Retirement Age is on the Rise

The age of retirement with full Social Security benefits used to be 65, and early retirement benefits, with a reduction of the full benefit amount, were available at age 62. Currently, the full Social Security benefit retirement age is 66 for people born between 1943 and 1954, and it will gradually rise to 67 for those born in 1960 or later.

Over Ten Million People Receive Disability Benefits Despite Recent Decline in Numbers

For more than thirty years, the number of disabled individuals receiving Social Security disability insurance benefits increased exponentially. That number grew from 4,265,981 in 1990 to 6,673,362 in 2000. By December 2013, the number of people receiving disability benefits was at an all-time record high of 10,988,000. This dramatic increase has been attributed to the changing nature of the workforce during that time period, particularly the aging of the baby boomer generation which accounted for the largest increase in the number of workers in the last century.

Many Totally Disabled Veterans Are Denied SSDI Benefits

A recent study published by the Social Security Administration contains some interesting facts about the number of totally disabled veterans who do not qualify for Social Security Disability benefits (SSDI). Between 2000 and 2006, more than half of veterans who were considered totally disabled by the Veteran’s Administration (or 100% VA disabled) due to service-related impairments were denied SSDI benefits upon their initial application.