- Bargaineering - http://www.bargaineering.com/articles -

Social Security Stops Mailing Annual Benefit Statements

Several years ago, I was surprised to receive my first Social Security Estimated Benefits Statement [3]. Now, three statements later, it turns out those mailers will no longer be going out in a cost cutting move (it costs around $70 million a year). Personally, I welcome the change because I’m all for reducing paper waste (which I see these reports as) but I don’t like how I can’t view my actual report online. The best you can do is use their estimator [4], but you need to enter in your information manually. Thumbs down to that.

The SSA announced that the change was going to start in April and since the reports are mailed out three months prior to your birth month, anyone born in July or later won’t get one this year. In fact, when the fiscal year resets, they are only planning on mailing the statements out to people aged 60 and older who haven’t started to receive benefits.

While some people see the mailers as a work of fiction, others use it as part of retirement planning and so I can understand why people are upset they can’t see actual numbers anywhere. I’m all for electronic records, I don’t need the piece of paper, but you can’t suspect paper reports without offering electronic access. It’s like a credit card company saying they are doing paperless statements but you can’t actually log on anywhere to view your statement.

(Photo: thehi [5])