Restricted SS Application

[ScaredtoQuit]

I am currently 66 and I am collecting spousal benefits from my wife's social security account. When I turn 70, I will switch over to collect an augmented benefit from my own account. At that point, can my wife switch over and collect spousal benefits from my account? I seem to remember there was a deadline for such shenanigans when they made that change to the rules back in 2015 but at this point I can't find anything that says you can't do this. My motivation is obvious... by 2022, my annual benefit will shoot up to about $48K; my wife's current benefit is only about $12K.

 

[MissMolly]

Yes, she can, but she will not get 1/2 of your age 70 amount. She would get 1/2 of your age 66 amount and if she filed for her own SS prior to reaching her full retirement age, it would further reduce the 1/2 your age 66 amount. Anyone who files prior to full retirement age is forever reduced by that early filing date.

 

[ScaredtoQuit]

I was aware that she would only get my benefit at age 66, but I hadn't thought about the age 62 penalty. Does that mean she would get 80% of 1/2 of my benefit?


Thanks so much for your fast response!!

 

[joeea]

I was aware that she would only get my benefit at age 66, but I hadn't thought about the age 62 penalty. Does that mean she would get 80% of 1/2 of my benefit?

No.

If her full retirement age is 66, should would get only 75% of 1/2 of your benefits if she started collecting at 62.

Or she would get her own benefits - whichever is more.