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Worried About Safety of Your Online Social Security Account? Equifax Is On the Job

February 10th, 2016 · No Comments · Social Security

by Kristy Welsh

(Last Updated On: February 26, 2018)

Man Looking at Social Security Information Online

While it’s a nice convenience being able to track your social security earnings online, it’s also a little scary. If somebody manages to hack your account, they’re gaining access to some of your most sensitive personal information. So it’s good to hear the news that the Social Security Administration has completed integration of Equifax verification into its online authentication system.

Equifax is one of the three major credit reporting bureaus. This agency will use its data to verify the identities of those logging into my Social Security.

You don’t get paper statements in the mail anymore, so if you want to track your social security earnings – an important step in retirement planning – you have no choice but to use the online system. If you’ve been hesitant to do so, maybe this latest news will change your mind.

my Social Security: What You Get

As I blogged in August 2014, here’s the information you can access when you log into your my Social Security account:

  1. Estimated benefits you’ll receive at 62, 67, and 70
  2. How much you’d receive in disability if you became disabled right now
  3. How much your family would receive in survivor benefits if you were to die this year
  4. Breakdown, by year, of your taxed social security and Medicare earnings
  5. How much you’ve paid in for social security and Medicare
  6. How much your employers have paid in for social security and Medicare

CFPB Online Tool Helps Too

It’s good to know your social security earnings. What’s better, though, is using those figures to make retirement plans. The Consumer Financial Protection Bureau (CFPB) can help with its Retirement Planning Tool. If you try it, you’ll be asked to answer questions specific to your situation – like whether you’re married or widowed, or if you plan on continuing to work into yours 60s – and you’ll be advised accordingly.

What Do You Think?

Will you (or do you) use my Social Security and/or the CFPB Retirement Planning Tool? Why or why not?

Learn more about planning for retirement.

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