QUESTION:

changing social security benefit from own earnings to spouse's earning

I have recently retired and will turn 62 in a few months. I am entitled to approximately a $1,000 reduced monthly benefit based on my own earnings at age 62. My husband is 66 and still working. He is currently eligible for approximately $2,000 a month. He does not plan to begin his social security benefits until age 70 when his payment will be significantly larger. Here is my question: Can I begin receiving reduced payments at age 62 based on my own earnings record and then 4 years later when my husband begins his payments, can I give up my own payments and begin receiving 50% of my husband's benefit based on his earnings? Also, I will be of full retirement age (66) when he turns 70. Does this have any impact on the calculations?
asked by pattyinparadise, 12/18/2007
Categories: Social Security, Retirement Assets
ANSWERS:
Answered by: SilverSurfer, 12/24/07
Overall Rating:

Hi Patty, I looked on the SSA web site and found an answer that looks like it applies to your situation - it seems to say that you can only get your reduced benefit based on your SS benefit before your spouse claims their benefit, however once they claim their benefit then you may be eligible to get a higher benefit based on their earnings. Since you have a complex situation you should call the SS office and discuss your situation before making any decisions.

Copy and paste this link into your browser:

http://ssa-custhelp.ssa.gov/cgi-bin/ssa.cfg/php/enduser/std_adp.php?p_faqid=309

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