if i'm on disability at age 54 can i collect social security and a pension from one of my former jobs/ or do i

Question

or do i have to wait to collect the pension until i'm62?

Answer 1

Depending on the rules of the company you worked for, you could collect in one lump sum. I worked for a company for 15 years and they wrote and asked if I would like the money, or would prefer to wait until retirement. I opted to take the money, and they sent it, minus taxes. If you can avoid taking it now, that would be your best bet since it will continue to draw interest. As for social security, I don't think you can collect that until retirement age. I have a neighbor who was on disability and had to wait until she was 65 to collect social security, even though she worked almost all of her life.

Answer 2

Apply for social security disability - and then you have a 5 month waiting period - which you collect nothing - and that's never repaid to you.

Apply for the pension - based on disability from your former employer.

All they can say is no. You must prove the disability papers - but then you will get a good response.

Also once you have a permanent disability, you may take money out of your IRA or Keogh without the early withdrawal penalty - until you're about 59 1/2.

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GOD bless us always.
MBA-Boston Univ.
CPA - retired