Larry, should I defer my government pension as well as my SS benefit to age 70? I will not see an increased public pension by waiting but I want to reduce the impact of WEP. I am planning to take my government pension now, age 67, and wait until age 70 for SS. THANK YOU

Hi,

You will have decide for yourself, but I don't see any upside in delaying your government pension if it won't get any higher if you wait to take it. Your Social Security retirement benefit rate will increase by 8% per year if you wait until age 70 to start drawing it, though, even if the Windfall Elimination Provision (WEP) causes you to receive a lower benefit rate than you normally would. So, it sounds like what you're planning to do is perfectly reasonable. Our software will allow you to compare all of your various possible scenarios so that you can confirm your best overall strategy.

Best, Jerry