A social security statement is the letter created for each taxpayer by the Social Security Administration which details the amount the individual has paid towards social security and their estimated payments at retirement. A social security statement gives key information on retirement benefits based upon current income level, but the information could change before retirement if the individual’s income changes. An individual’s eligibility for and how much disability payments are also in the statement. For an example of a social security statement, click here. To check your social security statement, click here.
[Last updated in July of 2021 by the Wex Definitions Team]