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If the spouse took his SS at 65 and I applied at 62, as I understand it I am not entitled to half the amount he got at 65, because I am claiming at 62, so it would be reduced - correct? Half of what he was eligible for at 65 is about $100 a month more than what I would be eligible for on my own work record at 62.
you always keep your 62 benefit ....
they then take 1/2 his full benefit , regardless of when he filed , and subtract your full benefit regardless of when you filed .. any difference is added to your early benefit . it will always be less then 1/2 his since it goes on your early benefit .
Last edited by mathjak107; 06-14-2019 at 12:46 PM..
The ability to claim 1/2 of your spouse's benefit while letting your own grow changed a few years back. There was a cut-off date, people having been born before would still be able to do this. I believe you and your wife were born past the cut-off date. I know that I was; I was born in 1967.
The law changed but anyone who was born 1953 or before still qualify for it.
The ability to claim 1/2 of your spouse's benefit while letting your own changed a few years back. There was a cut-off date, people having been born before would still be able to do this. I believe you and your wife were born past the cut-off date. I know that I was; I was born in 1967.
The cut off date is Jan 2, 1954. Those born on or after that date cannot take 1/2 of the spousal benefit then switch to their own. The other restriction is the spouse could only take the 1/2 when he/she reached FRA.
In my case my husband is 14 years older than I am and he took his SS at FRA, which for him was 65 & 4 months. I could have taken my own reduced benefit at 62. I could not take 1/2 of his and switch at 70. Once I got to FRA which for me is 66, I was able to take my full benefit or 1/2 if his- not both. I elected to take 1/2 of his and let mine grow until I am 70. When I hit 70 I will switch to my benefit which will be at least 32% higher than want it would be at 66. (8% per year plus any COLA).
Again, unless you at least 66 sometime THIS YEAR, this option goes away.
There were some restrictions if you collect your benefit at 62. Make sure to check that carefully if you want to collect at 62 then switch to 1/2 of your spouses benefit. You may not be able to unless you wait for your FRA.
Even if you qualify to file restricted application you must be fra to do so .. anyone filing under fra still gets their own first and cannot file for just spousal leaving their own to grow
I was reading on here last week or week before and saw people mentioning about getting 1/2 of their spouses social security. I was just curious was this was about. I'm not quite sure what I would even Google for answers.
Background:
My wife is 10 yrs older than me and I am 45. I am looking to retire, part-time more than likely, at 55 as I will have 30 years in at my job and fully vested for my pension. My wife, who was born in '64, would then retire as well. She would be 65 and we would have her begin to receive her Social Security. I am thinking that I would just collect my pension until I'm 65 or 67.
I just signed up for an account with the Social Security Administration and it says that at my FRA I would get $2246/month. I know these figures will change, but we'll just use these numbers for now.
So I'm not sure if my wife would get and extra $1123 a month on top of her regular Social Security or how this works. Maybe there even isn't anything like this and I was reading it wrong.
I know 10 years is a long ways away, but I'd like to try and prepare.
Thanks for any assistance you might be able to provide.
Your wife gets nothing.
Well, at least not in your name.
In order for your wife to get benefits, you have to die, or be collecting Social Security.
Okay, so you're 45 and she's 55. 10 years from now, you'll be 55 and she'll be 65.
She gets nothing, unless she applies in her own name for her benefits, because you cannot legally obtain benefits at age 55.
7 years later, you'll have 62 years and she'll have 72 years. You can file for early benefits, but your benefit will be permanently reduced 30% for the rest of your life.
Once you start collecting benefits, she can have Social Security pay her the greater of her own benefit, or 50% of your FRA benefit (not 50% of the 70% that you'd be collecting early), but not both.
In order for your wife to get benefits, you have to die, or be collecting Social Security.
Okay, so you're 45 and she's 55. 10 years from now, you'll be 55 and she'll be 65.
She gets nothing, unless she applies in her own name for her benefits, because you cannot legally obtain benefits at age 55.
7 years later, you'll have 62 years and she'll have 72 years. You can file for early benefits, but your benefit will be permanently reduced 30% for the rest of your life.
Once you start collecting benefits, she can have Social Security pay her the greater of her own benefit, or 50% of your FRA benefit (not 50% of the 70% that you'd be collecting early), but not both.
Actually now she no longer gets the greater of her own or 50% of her husband .... unless they made the cutoff they only get their own ...that never changes .... if half her husbands full is more than 1/2 her full the difference is added to her benefit .. if she filed at less then fra then her early benefit gets the adder and it will always be less then half..
There is no choice anymore not to take your own under any circumstance with ss retirement...survivor still has the ability to take spousal benefits early and then let your own grow until 70 and switch
I started collecting my SS at age 64. I am divorced (very long time) and had to keep an appointment with someone in SSA who wanted to go over the numbers with me. My ex had retired sooner, had remarried (#3), and was about 1.5 years older than me.
I was told in order to collect anything from his SS, the amount would be 1/2 of his total and be of greater value than mine. Turned out my full retirement at 64 (not FRA) was more. Therefore, I was not entitled to any of his. Only once he passed could I get any of his (or him from me) I had to have been married to him 10+ years. I had been married over 21 years.
He and I are still breathing. I kind of doubt I'll see any of his, or if I do, I'll be too old to enjoy it.
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