Undo Your Social Security Claiming Decision

How to reverse an early benefit claim designation.

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I took Social Security at age 62 and have since changed my mind. Can I undo the decision?

9 Financial Fumbles You Can Fix

Maybe. If you change your mind within 12 months of claiming benefits, you can withdraw your application by filing Form SSA-521.

You'll need to repay all of the money you received, including any spousal benefits (but not including interest). You can then restart benefits later. Your benefit amount rises with age, until you reach 70. Note that you are limited to one withdrawal of your application.

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See Also: 10 Things You Must Know About Social Security

Kaitlin Pitsker
Associate Editor, Kiplinger's Personal Finance
Pitsker joined Kiplinger in the summer of 2012. Previously, she interned at the Post-Standard newspaper in Syracuse, N.Y., and with Chronogram magazine in Kingston, N.Y. She holds a BS in magazine journalism from Syracuse University's S.I. Newhouse School of Public Communications.