Why wait? My wife and i started SS at 62 because it would take enough years at the higher rates for starting later that we seemed better off by starting early. Penalty only imposes taxes on parts of SS...have no idea of what the 3 options you laid out mean...
I understand that. My specific question to them is, I’ll miss 3 payments this year and 6 next year due to the income penalty. when and how do I recover those 9 payments once I reach retirement age.
I was told, in 3 calls:
1) you get it back incrementally each month once you reach full retirement age
2) you don’t get it back, it’s gone
3) you get a lump sum check once retirement age is reached.
All I want to know is, when and how.