Understanding SS Survivor Benefit?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Post Reply
Topic Author
hawkfan55
Posts: 379
Joined: Thu Apr 03, 2014 9:04 pm

Understanding SS Survivor Benefit?

Post by hawkfan55 »

I have a quick question. Say a couple is in early 60s. If spouse A (larger amount) holds off on starting Social Security until 70 and Spouse B (smaller amount) starts SS at 62, if spouse A dies at age 75, does spouse B receive the full amount Spouse A was receiving (132% of A's PIA) or just A's PIA? Does Spouse B receive less than the amount Spouse A was receiving because B started their SS at age 62?

Thanks for your help.
Last edited by hawkfan55 on Sun Dec 16, 2018 10:48 pm, edited 1 time in total.
Forum Library of Investing Advice: https://www.bogleheads.org/wiki/Main_Page
123
Posts: 10416
Joined: Fri Oct 12, 2012 3:55 pm

Re: Understanding SS Survivor Benefit?

Post by 123 »

According to SSA https://secure.ssa.gov/poms.nsf/lnx/0300615690

"As of June 1978, a deceased NH’s DRCs could be used to increase the widow(er)’s benefit."

The delayed retirement credits earned by the deceased not receiving benefits for months after full retirement age can be used to increase widow(er)'s benefit.
The closest helping hand is at the end of your own arm.
OnTrack
Posts: 799
Joined: Wed Jan 20, 2016 10:16 pm

Re: Understanding SS Survivor Benefit?

Post by OnTrack »

As long as the surviving spouse starts collecting survivor benefits at full retirement age or older, the benefits are 100% of the benefits that the deceased spouse had been receiving. When the surviving spouse started collecting his/her own benefits does not matter (it does matter for spousal benefits). There is some fine print to be aware of:
https://www.ssa.gov/planners/survivors/onyourown.html
hulburt1
Posts: 510
Joined: Tue Jul 15, 2014 9:17 pm

Re: Understanding SS Survivor Benefit?

Post by hulburt1 »

I'm 65 if I take SS at 66 my wife is 62 and does not take SS until 70 but dies at 64. When I hit 70 could I get what she would get if she was alive at 70. Or would it only be what she would get ay 66. or none of the above. She will get more then me at 66 and 70 if she is alive.
User avatar
dodecahedron
Posts: 6607
Joined: Tue Nov 12, 2013 11:28 am

Re: Understanding SS Survivor Benefit?

Post by dodecahedron »

hulburt1 wrote: Mon Dec 17, 2018 7:36 am I'm 65 if I take SS at 66 my wife is 62 and does not take SS until 70 but dies at 64. When I hit 70 could I get what she would get if she was alive at 70. No Or would it only be what she would get ay 66. or none of the above. None of the above since her FRA is not 66 She will get more then me at 66 and 70 if she is alive.
Unfortunately, if your wife dies before her Full Retirement Age (FRA), your survivor benefits will be limited to what she would have gotten if she had filed at her FRA. If she is 62 now, her FRA is somewhat greater than 66, depending on whether she was born in late December 1955 or at some point in 1956. The fact that she *planned* to wait until 70 does not help if she dies before FRA.

Analogously, if she dies between her FRA and age 70, your survivor benefits will be limited to the actual amount she could have collected if she had filed for her own benefits at the time of her death. Again, the fact that she planned to wait even longer until 70 does not change what you will get.

(Of course, all figures above will be updated for inflation.)
Post Reply