Social Security Statement will have important Social Security information and, if applicable, estimates of your future benefits. If you are working, it’s recommend to check your Statement yearly to make sure your earnings record is correct and also it will help in planning your financial future.
Social Security Statement tells you about the following key items
- Your Social security earnings history
- An estimate of how much you have paid in Social Security taxes
- How much you will get when you retire ( retirement benefits )
- Benefit amount you will be eligible for if you become disabled ( disability benefits )
- An estimate of benefits to families when a the person dies ( survivor benefits)
- An estimate of benefits you (and your family) may be eligible for now and in the future ( retirement benefits)
How to get Social Security Statement ?
You can create and view your Social Security statements online at any time or you can request for Social Security Statement via mail
To create online account, please visit http://www.ssa.gov/myaccount/
Request for Social Security Statement via mail —Form, please visit ttps://www.socialsecurity.gov/myaccount/SSA-7004.pdf
Social Security and Medicare Withholding Rate
- Workers are required to pay 6.2% into Social Security and 1.45 % into Medicare ( Social Security is 6.2% for the employer and 6.2% for the employee, or 12.4% total and Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total )
- Self-employed workers pay 12.4 percent of their earnings into Social Security and 2.9 percent into Medicare.