Social Security spousal benefit Archives

Dear Liz: My best friend was able to get a 50% bump in his Social Security monthly benefit due to his wife having a higher monthly benefit. My wife didn’t work enough to qualify for Social Security, but I did. Can she get the spousal benefit from my record?

Answer: Your wife can qualify for an amount that’s up to half of your benefit at full retirement age, provided you’ve already applied for Social Security. The amount she gets would be reduced if she applies before her own full retirement age, which is 67 for anyone born in 1960 or later.

You mentioned your friend getting a 50% “bump” in his benefit, but that’s not how spousal benefits work. Your friend’s spousal benefit was compared to the benefit he earned on his own work record, and he would get the larger of the two amounts – not both.

Dear Liz: I waited until age 70 to start collecting Social Security. My wife turns 65 this year so her full retirement age is 67. Can she start collecting Social Security benefits now based on my benefit or should we wait until her full retirement age?

Answer: If she applies for Social Security now, she would be “deemed” to be applying for both her own benefit and her spousal benefit and given the larger of the two. She would not be allowed to switch to the other benefit later.

Most people are better off waiting at least until their full retirement age to apply, and many will maximize their lifetime benefits by delaying until age 70. Her mileage may vary, of course, so it’s worth using a Social Security claiming calculator and consider getting advice from an objective source, such as a fee-only financial advisor.