As you get closer to retirement one of your top questions is most likely when and how to submit your Social Security application. Can you apply at age 62 or 66? What are the steps to applying for Social Security once you've decided to begin collecting retirement plus points? We'll discuss about these questions and more in the following paragraphs.

When to Apply for Social Security Retirement Plus Points

Social Security retirement benefits can be collected as early as age 62 or as late as age 70. Full retirement age hinges on your birthday, but for boomers now beginning to retire, the full retirement age is 66. If you receive advantages before you get to full retirement age, your advantages will be lessen by up to 25%. On the other hand, if you postpone collecting benefits after you get to full retirement age, your advantages will increase by 8% every year until you reach age 70. After age 70 you might no longer get credits thus there is no advantages to delaying benefits after age 70.

According to the Social Security Administration, roughly 73% of present Social Security receivers are receiving decreased advantages (since they elected to receive them prior to their full retirement age); however this may not be the best plan. Your health, life expectation, marital status and other resources all play a role in when you must begin collecting advantages. As Social Security plays such a crucial role in your retirement income (at least for most people), it is advised that you contact a financial expert who have experience in Social Security to assist you decide the best time to start receiving retirement advantages.

How to Apply for Social Security Benefits

Once you've decided when to start your advantages, how do you submit your Social Security retirement application? There are three procedures to apply for Social Security:

1. You could go online to Social Security.gov and apply for advantages right on the site. However, at this time you can merely apply for retirement benefits online (you must call or go to an office in person to apply for survivor benefits).

2. Call 800-772-1213 to apply for advantages by phone.

3. Or you can visit an office personally if you have to discuss with an employee face to face. To locate the closest office, visit the website at Social Security.gov.

You will require the following details when you submit your Social Security application:

- Social Security number

- Name at birth, date and place where you were born

- Citizenship position

- Active duty service dates

- Married status, spouse's name, birth-date and SSN

- Name, date of birth and SSN of any former spouses

- Names of any not married kid under age 18

- The name and address of every organization you worked for in the previous two years, including estimated income

- If you are within 3 months of turning 65, you'll also have to let Social Security know if you are joining Medicare or not.

Additional details might be needed if you are self employed or if you worked in a government job which will provide a pension benefit.

Submit Your Social Security Application Three Months in Advance

You must apply for Social Security retirement benefits three months prior to the date you wish to start getting benefits. Payments are sent the month after the month they are owing. For instance, if you apply for retirement benefits and request that they begin in October of 2010, you will receive your first payment in November 2010.

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