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My wife is 76, born in 1948. She retired at full retirement age and currently collects $1,076 per month. I will be retiring and start collecting at 70 this year (I was born in 1954). When I collect $4,000+ per month does her monthly payment go up to spousal benefit automatically or does it have to be claimed by us? Or is she not eligible for spousal benefit at all? Thanks for what you do.
– Randall
Social Security spousal benefits can be tricky to navigate, and couples that plan carefully can maximize their total benefits received. All married people may be eligible to collect retirement benefits in two ways: based on their own earnings or the based on their spouse’s earnings. The rules for spousal benefits are nuanced and depend on several factors.
If you need help planning for Social Security or developing a more comprehensive retirement income plan, consider speaking with a financial advisor.)
In your case, your wife may be eligible to collect that higher amount if her spousal benefit turns out to be higher than her current benefit. Since she claimed her benefit at full retirement age, the spousal benefit would be 50% of your benefit at your full retirement age (not the delayed, higher benefit). To verify eligibility and request the higher benefit, your wife will need to contact Social Security about switching to the higher monthly payment after you claim your benefits.
In general, someone who’s married married or has been married is likely eligible for Social Security spousal benefits. These are retirement benefits based on the work and income history of a spouse (or former spouse’s) rather than your own.
When an individual applies for spousal benefits, they’ll also be effectively applying for benefits based on their own work and income history at the same time. The Social Security Administration (SSA) will pay out whichever of those benefits would give them the bigger monthly payment.
However, a person can claim their own benefits before their spouse claims theirs, and then apply for a spousal benefit later on. The spousal benefit is based on the age at which someone began taking their own benefits. (You may want want to connect with a financial advisor if you need more help navigating spousal benefits or optimizing your Social Security.)
Randall, in order for your wife to be eligible for spousal benefits, you need to have already filed for your own benefits. If that’s the case and your wife is at least 62 years old, she can apply for her spousal benefit. If your wife has a child under 18 who receives benefits on your record or a disabled child who receives benefits, your wife can apply for spousal benefits at any age.
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