Will my retirement benefits go down?

[cajunlady]

Two years ago my husband and I took early retirement. I was 64 and he was 62. I receive my retirement benefits plus partial of his. When he turns 65 next year will they take away the partial payment of his retirement away from me?
Thanks for your time and have a nice day.

 

[ERD50]

You need to ask the administrator of whoever provides your pension. There is no way anyone here can answer this with authority, it is specific to your plan.

I would guess that it wouldn't change at 65, but ask and report back. I'm curious now.

-ERD50

 

[martyb]

She may be talking about Social Security. Some people refer to SS payments as their "retirement". I never realized just how many people really consider SS as their retirement plan.

 

[cajunlady]

Yes it was my Social Security check I was speaking of. Sorry, I should have made that clear. Like Martyb said I just assumed ss was my retirement plan because benefits were taken out of my check during the years that I worked to recieve when I retired.
Sorry for the confusion.

 

[beowulf]

Unfortunately, cajunlady, SS was never meant to be a "total" retirement plan for anyone. It's a safety net so seniors don't have to live under bridges and eat cat food. At 62 and 64, it's probably a bit late to start saving for retirement, unless you plan to work a long time, so I hope you have plenty of other savings to supplement your SS.

Best of luck.

I'm not up to speed on SS rules, but I think things might change when your husband reached Full Retirement Age at 66, not 65 (if anything changes). I also can't quite grasp how you receive your beenfit and part of his. I was under the impression that is was either your benefit or 50% of his (reduced for age 62). But I'm probably wrong on that.

 

[bikeknit]

She would receive her SS benefit plus a portion of the spousal benefit (part of his) equal to what the spousal benefit would be on it's own. It comes out the same (the spousal benefit is 50% I believe) but it is presented this way which confused the heck out of me when I first heard it explained. And I don't see any reason why she would lose any of it at 65 - or 66. (Note, I'm not an expert just basing this on my understanding.)