Pension and Social Security

Banshee · 08-23-2009, 11:29 AM

Got a question I can't get a concrete answer on...

I paid into Social Secuirty for 13 years (age 14-27) and have enough credits..will get $1478 a month. The dates were from 1986 until 1999.

I got a new job with a pension in 1999

My question is...Since I paid into Social Security until 1999 (not since) and I am paying into my pension since..will I get both my pension and SS?

Thx!

dayvedayve · 08-23-2009, 11:34 AM

Are you paying into social security now? Is your pension from a state government like a teacher? Most of the time you will get both.

patriotpa · 08-23-2009, 11:41 AM

The money you pay into SS isn't yours. It goes to people already on SS. It's a Ponzi scheme. If we're lucky we'll get SS, but I wouldn't count on it. Best advice is to consider that money gone.

Banshee · 08-23-2009, 01:17 PM

My pension is a city position, and not been paying social security since 1999.

I understand my wages went for the people who retired when I was paying into it. Whether it is there (SS benefits) when I retire is speculative.

I just want to know if I need to bump up my retirement funds..is all.

08-23-2009, 11:29 AM	#1
Banshee Institutionally Insane Drives: 2013 IOM 2SS/RS 1LE Join Date: Feb 2009 Location: Detroit MI Posts: 2,115 View My Garage	Pension and Social Security Got a question I can't get a concrete answer on... I paid into Social Secuirty for 13 years (age 14-27) and have enough credits..will get $1478 a month. The dates were from 1986 until 1999. I got a new job with a pension in 1999 My question is...Since I paid into Social Security until 1999 (not since) and I am paying into my pension since..will I get both my pension and SS? Thx! __________________ It's got a cop motor, a 440 cubic inch plant, it's got cop tires, cop suspension, cop shocks. It's a model made before catalytic converters so it'll run good on regular gas. What do you say, is it the new Bluesmobile or what?

08-23-2009, 01:17 PM	#4
Banshee Institutionally Insane Drives: 2013 IOM 2SS/RS 1LE Join Date: Feb 2009 Location: Detroit MI Posts: 2,115 View My Garage	My pension is a city position, and not been paying social security since 1999. I understand my wages went for the people who retired when I was paying into it. Whether it is there (SS benefits) when I retire is speculative. I just want to know if I need to bump up my retirement funds..is all. __________________ It's got a cop motor, a 440 cubic inch plant, it's got cop tires, cop suspension, cop shocks. It's a model made before catalytic converters so it'll run good on regular gas. What do you say, is it the new Bluesmobile or what?

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08-23-2009, 11:34 AM	#2
dayvedayve Drives: 2006 Chevy Avalanche Join Date: Aug 2008 Location: Gulf Coast of Texas Posts: 386	Are you paying into social security now? Is your pension from a state government like a teacher? Most of the time you will get both.

08-23-2009, 11:41 AM	#3
patriotpa Account Suspended Drives: 02 Silverado, 09 Vue, 10 1SS Join Date: Aug 2008 Location: Tired of apologizing when we should be kickin' butt! Posts: 1,962 View My Garage	The money you pay into SS isn't yours. It goes to people already on SS. It's a Ponzi scheme. If we're lucky we'll get SS, but I wouldn't count on it. Best advice is to consider that money gone.