Spousal SS Question - (Sorry, Yes, Another)

[ShokWaveRider]

My DW is currently 63 and has taken SS at 62 as suggested by OpenSecurity. Let us say for arguments sake she currently gets $1,000 per month in her own right.

When I check my SS is suggests that at Full Retirement Age DW can get $2,000 spousal.

Does this mean that when she turns 65 she can cancel her current SS and switch to my spousal?

Thanks in Advance.

 

[MissMolly]

She cannot claim spousal until you are drawing your own benefit. Also, since she filed early, her spousal will not be 50% of your PIA. It will be forever reduced since she did not wait until she was full retirement age. Also, her full retirement age would not be 65. It is probably when she is 66 and 8 months since you say she is 63 now. Which, since she filed early, no longer matters. She has already locked in her reduction.

 

[ivinsfan]

The term cancel isn't correct either. When you claim she will have her own benefit topped off with a spousal.

 

[ShokWaveRider]

Thanks

 

[ivinsfan]

Thanks

You're welcome down at the bottom of this page under similar threads you started two just like this in 2020.


You indicted that you wouldn't start DW at 62. It seems as though you guys changed your mind perhaps not understanding all the ins and outs of SS.

 

[pb4uski]

My DW is currently 63 and has taken SS at 62 as suggested by OpenSecurity. Let us say for arguments sake she currently gets $1,000 per month in her own right.

When I check my SS is suggests that at Full Retirement Age DW can get $2,000 spousal. ...

opensocialsecurity.com should show what her benefit will be once you start your benefits.

The spousal benefit is the excess of 50% of your PIA over her PIA based on her work record and that will be added to the benefit based on her work record... which will be discounted since she claimed at 62 rather than waiting to her FRA.

DW waited until her FRA and once I start my benefits will get 50% of my PIA because there will be no discount since she started at her FRA.

 

[ivinsfan]

opensocialsecurity.com should show what her benefit will be once you start your benefits.

The spousal benefit is the excess of 50% of your PIA over her PIA based on her work record and that will be added to the benefit based on her work record... which will be discounted since she claimed at 62 rather than waiting to her FRA.

DW waited until her FRA and once I start my benefits will get 50% of my PIA because there will be no discount since she started at her FRA.

Just for clarification, is it only her own work record benefit that is reduced for age or is her portion of spousal reduced as well. I can't quite figure out the verbiage on the SS website.

 

[MissMolly]

Just for clarification, is it only her own work record benefit that is reduced for age or is her portion of spousal reduced as well. I can't quite figure out the verbiage on the SS website.

pb4uski explained it very clearly on post #7 in this thread:

https://www.early-retirement.org/forums/f28/ss-strategy-109653.html

 

[pb4uski]

Just for clarification, is it only her own work record benefit that is reduced for age or is her portion of spousal reduced as well. I can't quite figure out the verbiage on the SS website.

Just her benefit. From the other thread that Miss Molly just referenced:

Yes, an example... let's say that her PIA is $700 and yours is $2,600. Also, let's say that you file at your FRA of 67 and she files at 62.

She'll collect 70% of her PIA or $490. Once you file she'll get a spousal benefit of the difference between 50% of your PIA ($1,300) and her PIA ($700) or $600. So once you file she'll receive $1,090 in total for the rest of her life.

OTOH, if she waits until her FRA she would get $700 on her own work record and once you file she would get the same $600 spousal benefit... for a total of $1,300.

So the $210 discount that she is assessed for filing at 62 rather than FRA is for life.

 

[Sunset]

OP - If your DW has been on SS less than a year, I believe she can change her mind, notify them, repay the SS and be considered as not having claimed.

 

[ivinsfan]

OP - If your DW has been on SS less than a year, I believe she can change her mind, notify them, repay the SS and be considered as not having claimed.

Actually the fact that the spousal top off doesn't get an age reduction means is the not really punitive at all in regards to spousal. IOW not that big of a deal...