Retirement age goes up this year

From Now On, We Don't Get Social Security at 65

Jan. 27, 2003 - Americans born in 1938 will reach age 65 this year but they will have to wait an extra two months to receive Social Security payments. This is the first year of the graduated retirement age for Social Security but Medicare eligibility is still 65.

The qualifying age gradually rises until it reaches 66 for people born between 1943 and 1954, and 67 for people born in 1960 or later. At the bottom of this page is a chart showing when you can get Social Security.

If you were a 1938 baby you need to contact your local Social Security office to get all the details about your retirement.

"People who are not eligible for full retirement until after age 65 still need to contact  one of our offices 3 months prior to age 65 to apply for Medicare," says Nede Mansour, Social Security Public Affairs Specialist.

"The Medicare Part B premium is automatically deducted monthly from the Social Security benefits, but if a person is still working and not eligible for Social Security monthly benefits but eligible for Medicare, the Center for Medicare and Medicaid Services bills the Part B premium on a quarterly basis," she said.

For an online guide to retirement by the Social Security Administration - Click Here^^.

Social Security handles both Social Security and Medicare enrollment. You can apply online for Social Security, but not Medicare, so, your best bet is to make an appointment soon with your Social Security office.

Social Security beneficiaries -- some 32 million retirees, 7 million survivors of deceased workers and 7 million disabled workers and their families -- get a 1.4 percent cost-of-living increase in their benefits. But some of that will be eaten up by an increase in the deduction for Medicare coverage. This link is to the booklet on Medicare - Click Here^^.