Not only is an online Social Security account easy to manage, you’ll also be protecting yourself and your benefits. Why exactly? By doing so, you can prevent your benefit payments from ending up in the hands of scammers. If your name, address, and social security number has fallen into the wrong hands, you need to set up your account before an identity thief does it for you.
Avoid Becoming a Victim of Identity Theft
Even if your retirement is years away, you should still set up your ‘
My Social Security’ account today. The biggest risk comes for those who are 62 or older, as thieves can begin claiming your Social Security benefits without your knowledge. It might not be until years later, once you decide to apply for social security that you find out about the fraud.
One account is permitted per Social Security number, so by claiming yours early, you can avoid identity theft. “People need to plant their flag because someone could just sign up for you,” says Brian Krebs, a cybersecurity expert who runs the
Krebs on Security website.
This account is the primary way to figure out your benefits – more than 30 million Americans already have open accounts. The Social Security Administration has now changed from paper statements to online notification as a way to save money. You can also use the service to get a benefit verification letter, which you’ll need if you are applying for a loan, or if you change your address or telephone number.
In order to set up your account, the site asks for standard identification details. You will be asked a series of multiple-choice questions based on your credit report. For instance, you might be asked the name of the bank that holds your mortgage or the name of your credit card issuer.
For some extra safety, the My Social Security site now requires you to follow a two-step login process. Once you enter your username and password, you will be sent an email or text with a verification code that you must enter into the website. These extra measures are put in place to help the SSA confirm that you are – in fact – you.
If you think you might be a victim of identity theft, you can report your concerns to the SSA
Office of the Inspector General or visit the
Federal Trade Commission Identity Theft information site.
