The budget bill enacted last November took away some popular filing strategies for future Social Security beneficiaries. There is time, however, for individuals who will reach age 66 by April 29 to take advantage of them as long as do so by that date.

Before the change, those who were eligible for Social Security benefits at full retirement age (FRA) could file for them and simultaneously suspend them.

By not initiating benefits at FRA, individuals can boost their benefit amount by 8 percent per year up to age 70. There is no additional advantage in waiting after age 70. (Note: The 8 percent-per-year bonus for putting off benefits does not go away with “file and suspend.” Those with a qualifying work record can take advantage of the bonus merely by not filing for benefits until a date of their choice between FRA and age 70.)

These are the benefits of file and suspend:

Lump-sum option: At any time prior to age 70, you have the option of requesting a lump-sum for any portion, or all, of the amount of Social Security benefits you could have received subsequent to your FRA. This option comes in handy to those whose financial or health situation changes. However, if you do exercise this option under file and suspend, you will lose the 8 percent increase in subsequent payments. In addition, if you die before your spouse, he or she would only be entitled to only the higher of 100 percent of your benefit or his/her benefit. If you did not use the lump-sum option, your spouse's benefit could be higher. (This assumes that the widow/widower benefit is higher than the Social Security benefit based on his or her work record.)

Auxiliary benefits: If you file and suspend, auxiliary benefits, such as spousal benefits, widow's benefits, dependent benefits and disabled child benefits, are available based on your work record. The November budget law eliminates any auxiliary benefits given or received for those whose retirement benefits are placed in suspension after April 29.

Another strategy that will be phased out is the restricted application for spousal benefit. Under this strategy, if your spouse is receiving benefits or has filed and suspended, you may, upon reaching your FRA, file for spousal benefits only using the restricted application. (Those benefits can add up to as much as half your spouse's FRA benefit.)

That allows you to postpone requesting benefits based on your own work record and be credited with an additional 8 percent per year from your FRA up to age 70. At age 70 you can then receive the full benefit based on your work record.

Under the provisions of the November law, if you were 62 by the end of 2015, even if are not old enough to file and suspend by April 29, the restricted application for spousal benefits remains available to you — if your spouse is receiving benefits or has filed and suspended by April 29.

In summary, if you will reach your FRA by April 29 and have not yet filed and suspended, you should take a close look at the advantages of doing so. The primary advantages of doing so WILL NOT exist if you file after that date.

Elliot Raphaelson welcomes your

questions and comments at

elliotraph@gmail.com.