January 21, 2022

Social Security Claims: 35% of retirees would apply online if answers to questions were readily available

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The Social Security Administration online tools can help meet the growing demand for SSA services, but a new study suggests that only about 35% are claiming benefits entirely online.

To see: The mySocialSecurity Online Portal helps you manage your Social Security benefits
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The Boston College Center of Retirement Research conducted a survey and found that the agency receives 53% of applications online, although a slightly higher percentage (60%) applied online during the pandemic. Jean-Pierre Aubry, the report’s author and the organization’s associate director of state and local research, noted that increased use of online tools would not only prove more convenient for retirees, but would also save the government. on office location and staff costs, Financial Planning reported.

“We’ve also found that there are situations that require personal attention,” Aubry said in an interview, Financial Planning reported. “You want people to claim in the way they can, in the way they want, in the way that’s most accessible to them.”

The report calls on the SSA to establish online methods to solve basic questions and remove obstacles to online use. The report also calls for raising awareness of the agency’s website for retirees. According to Aubry’s report, making these changes could increase the number of retirees claiming their benefits online by 15% to 20%. Incoming younger retirees could increase this by an additional 3%.

Aubry added that while the government plans to showcase the agency’s online tools, financial advisors also play a role.

To see: 5 Social Security Benefits You Can Claim Online
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Financial advisors are part of that communicationAubry said, as reported by Financial Planning. “If financial advisors inform their clients about these opportunities, it also helps to boost that percentage.”

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About the author

Josephine Nesbit is a freelance writer specializing in real estate and personal finance. She grew up in New England but now lives in Ohio, where she attended Ohio State University and lives with her two toddlers and fiancé. Her work has appeared in print and online publications such as Fox Business and Scotsman Guide.

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