Social Security Column


By Erin Thompson
Social Security Public Affairs Specialist, Toledo, OH

Do you receive Supplemental Security Income (SSI)? If so, you need to tell us about any financial accounts you own, alone or with someone else. That’s because SSI is a needs-based program, and eligibility is determined by your resources as well as your income. Examples of financial accounts include:

  • Checking, savings, and credit union accounts.
  • Christmas club accounts.
  • Certificates of deposit, also known as CDs.
  • Stocks and U.S. savings bonds.


What you need to tell us

You need to tell us about changes to your financial accounts or account balances to ensure you receive the correct SSI payment amount. Let us know if you:

  • Open a new account.
  • Close an account.
  • Add a joint owner to an existing account.
  • Increase your account balance over the SSI resource limit of:
    • $2,000 for an individual
    • $3,000 for a married couple living together and receiving SSI.

Achieving a Better Life Experience (ABLE) Accounts

ABLE programs allow people with disabilities to save money without losing important benefits, including SSI. We exclude ABLE accounts with balances less than $100,000 when determining SSI eligibility. To learn more about ABLE accounts, visit

How to Report Changes to Your Financial Accounts

  • Call us toll free at 1-800-772-1213 (TTY 1-800-325-0778), weekdays from 8:00 a.m. to 7:00 p.m.
  • Contact your local Social Security office. You can find your local office at

Additional Information

For a complete list of SSI reporting responsibilities, please refer to the publication What You Need to Know When You Get SSI at

Please share this information with those who need it.



It’s never too early to start planning for retirement and our online tools can help. Go to to access your personal my Social Security account to get an estimate of your retirement benefits based on your earnings record. Once you have an account, you can use our Plan for Retirement tool to see how your benefits can change at different ages. Don’t have a personal my Social Security account? You can create one at

You can also use your personal my Social Security account to see your entire work history and make sure we have all your wages recorded correctly. We base your benefit amount on the earnings reported to us. If you find any errors in your work history, read our factsheet, How to Correct Your Social Security Earnings Record at

When you’re ready to apply for Social Security retirement benefits, you can complete our online application in as little as 15 minutes at We will contact you if we need any further information. You can check the status of your application using your personal account.

You can apply online for Social Security retirement benefits, or benefits as a spouse, if you:

Are age 62.

Are not currently receiving benefits on your own Social Security record.

Have not already applied for retirement benefits.

Want your benefits to start no later than 4 months in the future.  (We cannot process your application if you apply for benefits more than 4 months in advance).

Note: If you were born on the first or second day of the month, you meet this requirement in the month of your 62nd birthday. If you were born on any other day of the month, you do not meet this requirement until the following month.

Find out more about retirement benefits at