Bad Social Security advice cost recipients $131 million, report finds

Making a decision as to when to start claiming Social Security benefits can be fraught with risks.

And there's one more danger many retirees may not be aware of: getting botched advice from the Social Security Administration.

A recent report from the agency's Office of the Inspector General estimates that 9,224 widow and widower beneficiaries age 70 and above were underpaid approximately $131.8 million.

The report also projects that Social Security will underpay 1,899 beneficiaries by about $9.8 million annually when they turn 70.

Those estimates are based on a random sample of 50 beneficiaries that led the office to conclude that 11,123 recipients could be eligible for a larger monthly benefit.

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