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SS - Big Age Difference
Old 03-27-2016, 10:36 AM   #1
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SS - Big Age Difference

Hi,

I'm 50 and my wife is 67. I've been trying to find out if there would be a spousal benefit to me if she filed and suspended (before the April 29th deadline). I haven't been able to find any information for couples with our age difference.

If anyone has any advice or a link to a calculator that could help me get this info I'd appreciate it.

Thanks
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Old 03-27-2016, 10:40 AM   #2
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I believe you are way too young to collect any spousal benefits. From my recollection reviewing the rules, the earliest you could receive a spousal benefit is when you turn 62, regardless of your spouses age.

If your wife files for benefits now, she will lose the 8% per year increase available to her by waiting three more years until age 70, so unless you need the money right now, it's probably better to wait.
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Old 03-27-2016, 10:42 AM   #3
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Quote:
Originally Posted by Ready View Post
I believe you are way too young to collect any spousal benefits. From my recollection reviewing the rules, the earliest you could receive a spousal benefit is when you turn 62, regardless of your spouses age.

If your wife files for benefits now, she will lose the 8% per year increase available to her by waiting three more years until age 70, so unless you need the money right now, it's probably better to wait.
This is completely correct.
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Old 03-27-2016, 11:53 AM   #4
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It might be worth doing anyway. She can file and suspend now, with the intent of starting benefits at 70 with maximum delayed retirement credits. I believe that if one has suspended and later changes one's mind, one can get the benefits retroactive to the suspension date. So, nothing for you, but she could gain an option that may be worth something. She may elect to un-suspend if we experience a 2008 magnitude decline for instance.
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Old 03-27-2016, 04:36 PM   #5
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Quote:
Originally Posted by Ready View Post
I believe you are way too young to collect any spousal benefits. From my recollection reviewing the rules, the earliest you could receive a spousal benefit is when you turn 62, regardless of your spouses age.
I believe he can collect a survivor benefit at age 60.

https://www.ssa.gov/planners/survivors/ifyou5.html
Quote:
These are examples of the benefits that survivors may receive:
  • Widow or widower, full retirement age or older -- 100 percent of the deceased worker's benefit amount;
  • Widow or widower, age 60 -- full retirement age -- 71 to 99 percent of the deceased worker's basic amount;
  • Disabled widow or widower aged 50 through 59 -- 71 percent;
  • Widow or widower, any age, caring for a child under age 16 -- 75 percent.
  • A child under age 18 (19 if still in elementary or secondary school) or disabled -- 75 percent.
  • Dependent parent(s) of the deceased worker, age 62 or older:
  • One surviving parent -- 82 percent.
  • Two surviving parents -- 75 percent to each parent.
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Old 03-27-2016, 05:41 PM   #6
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I believe he can collect a survivor benefit at age 60.

https://www.ssa.gov/planners/survivors/ifyou5.html
Just to be clear, the survivor's benefit has no link to the deceased spouse's age or SS status other than eligible for SS.
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