Social Security Benefit Estimate

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Prudence
Posts: 920
Joined: Fri Mar 09, 2012 3:55 pm

Social Security Benefit Estimate

Post by Prudence »

My DW turns 70 in July. This post is to confirm my general understanding of what we can expect from SSA. I delayed receiving my SS benefit until I reached age 70 in 2016. DW started receiving a spousal benefit (50% of mine) when she reached Full Retirement Age (FRA) in 2017. When DW applies to SSA for her own benefit, starting as of August 2021, SSA will calculate approximately 132% of her Primary Insurance Amount (PIA) at FRA. If the latter amount is greater than the amount she is receiving now, she will start receiving the greater amount. So, her benefit may go up but it will not go down. What am I missing?
sycamore
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Joined: Tue May 08, 2018 12:06 pm

Re: Social Security Benefit Estimate

Post by sycamore »

Suggest you use https://opensocialsecurity.com/ (written by Boglehead user ObliviousInvestor) to see what it recommends as ideal claiming strategy. I suspect it'll match what you described in the OP.
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JoeRetire
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Re: Social Security Benefit Estimate

Post by JoeRetire »

Prudence wrote: Sat Feb 20, 2021 9:34 am My DW turns 70 in July. This post is to confirm my general understanding of what we can expect from SSA. I delayed receiving my SS benefit until I reached age 70 in 2016. DW started receiving a spousal benefit (50% of mine) when she reached Full Retirement Age (FRA) in 2017. When DW applies to SSA for her own benefit, starting as of August 2021, SSA will calculate approximately 132% of her Primary Insurance Amount (PIA) at FRA. If the latter amount is greater than the amount she is receiving now, she will start receiving the greater amount. So, her benefit may go up but it will not go down. What am I missing?
Nothing seems to be missing here.

Has she looked at https://www.ssa.gov/ for her own benefits estimate?
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Topic Author
Prudence
Posts: 920
Joined: Fri Mar 09, 2012 3:55 pm

Re: Social Security Benefit Estimate

Post by Prudence »

Yes Joe, we keyed in her payment history to the SSA online detailed calculator and her benefit increases about 11 bucks a month compared to what she is receiving currently.
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