Social Security Spousal Benefit

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NGXflyer
Posts: 5
Joined: Thu Feb 07, 2013 2:18 pm

Social Security Spousal Benefit

Post by NGXflyer » Thu Feb 07, 2013 2:42 pm

I started collecting my SS at 65 and one month. My full SS retirement age is 66. Is the amount my wife (as spousal benefit) receives at her full SS retirement age 66 be based on 1/2 the amount I would have received at my age of 66? Or would it be based on 1/2 the amount I received by collecting early? Also are the amounts based on 1/2 what I presently receive after this year's increase in SS. I started collecting starting in 2012? I know she has to wait until her full retirement age of 66 to be able to switch to her own SS at age 70. Which is our plan.

Alan S.
Posts: 6855
Joined: Mon May 16, 2011 6:07 pm
Location: Prescott, AZ

Re: Social Security Spousal Benefit

Post by Alan S. » Thu Feb 07, 2013 5:31 pm

Her benefit at 66 would be half of your FRA benefit, which is of course higher than your actual benefit. Therefore, she is not affected by you taking your benefit early. COLAs are included.

dickenjb
Posts: 2941
Joined: Tue Jan 05, 2010 1:11 pm
Location: Philadelphia PA

Re: Social Security Spousal Benefit

Post by dickenjb » Thu Feb 07, 2013 5:56 pm

However her widow's benefit will be reduced by you claiming early.

NGXflyer
Posts: 5
Joined: Thu Feb 07, 2013 2:18 pm

Re: Social Security Spousal Benefit

Post by NGXflyer » Fri Feb 08, 2013 12:16 pm

Thank you for your replies. I know this forum provides quick correct anwsers

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