Did you know that Americans have the ability to request and view their Social Security statement? Monitoring your account is an important piece of the retirement puzzle, and checking your statement is essential to ensuring your future benefits accurately reflect the earnings that you have accumulated throughout your working life.1


Originally, the Social Security Administration (SSA) would send statements periodically via mail with account information. With modern technology advancements, the SSA made the change from mailing statements to delivering statements electronically. While most may find that digital access to your information is a greater convenience, a report by the SSA inspector general states that only about half of the 39 million people who are signed up to receive electronic Social Security statements have actually checked their earnings report.2 These findings suggest that people are not inclined to check their Social Security statement due to the fact that it is no longer being mailed to them on a periodical basis, as it was in previous years.


While some Americans aren't thrilled about this digital shift, creating a virtual account streamlines the process of monitoring Social Security statements. For instance, having a virtual Social Security account provides instant access to your information, allowing you to check for fraudulent or suspicious activity at any time. This is a key feature that can provide many Americans with peace of mind regarding their Social Security benefits that could not be achieved by mail alone.


Your Social Security statement contains the following important and sensitive information, which is why it's important to monitor3:


  • Your retirement benefit at your full retirement age of 67 (generally)
  • Retirement benefits if you delay collecting until age 70 (highest benefit you can receive)
  • Retirement benefits if you begin taking benefits at age 62 (the earliest you are eligible for retirement benefits)
  • Your disability insurance benefit (if needed)
  • Survivor benefits for your family (if applicable)
  • Along with other useful information such as your earnings record from the time you first began working and the amount of Medicare and Social Security taxes you've paid since the start of your working career

Today, your Social Security statement can be obtained through the Social Security Administration website, all you need to do is create a Social Security online account. If you haven't already done so, you can create your account by registering on the SSA website or by visiting a Social Security office.




Checking your account is a simple way to audit your benefits, and can greatly help you evaluate how much money you are going to need during retirement. After all, it's important to stay informed about your financial situation, especially as you near retirement.


If you have questions about optimizing your Social Security benefit, or any other retirement issue, call us! Call us today at (805) 465-7365.



1 https://www.nytimes.com/2019/04/12/your-money/checking-social-security-statements.html

2 https://oig.ssa.gov/sites/default/files/audit/full/pdf/A-03-18-50724.pdf

3 https://www.moneyunder30.com/social-security-statement