Now, to answer your question: If you claim your Social Security retirement benefits early, this will not affect your wife's dependents benefits, which are also called spousal retirement benefits. As long as your wife waits until her full retirement age to claim her spousal benefits, she can collect the full amount.
How does receiving a spousal benefit affect my Social Security benefits?
The proportion increases each month you wait to file, maxing out at 50 percent if you do so at your FRA. Receiving a spousal benefit does not affect the amount of your spouse's retirement benefit. That's based on his or her own earnings history and claiming age.
Can my spouse take Social Security early?
Early retirement reduces benefits A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months.
Does early retirement affect spousal benefits?
However, your early filing would impact any spousal benefits you qualify for, as well, Freitag said. And that’s regardless of whether your husband or wife claimed early or waited until full retirement age (or later). The amount of the reduction is greater the earlier you claim.
Will claiming social security early affect my wife's dependents benefits?
Now, to answer your question: If you claim your Social Security retirement benefits early, this will not affect your wife's dependents benefits, which are also called spousal retirement benefits. As long as your wife waits until her full retirement age to claim her spousal benefits, she can collect the full amount.
Does taking Social Security early reduce spousal benefits?
You will reach normal retirement age in . A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months.
Can I take my Social Security at 62 and then switch to spousal benefit?
Only if your spouse is not yet receiving retirement benefits. In this case, you can claim your own Social Security beginning at 62 and make the switch to spousal benefits when your husband or wife files.
What are the rules for spousal benefits of Social Security?
To qualify for spouse's benefits, you must be one of these: At least 62 years of age. Any age and caring for a child entitled to receive benefits on your spouse's record and who is younger than age 16 or disabled.
Can I collect half of my husband's Social Security at 62?
The maximum spousal benefit is 50% of the other spouse's full benefit. You may be eligible if you're married, formerly married, divorced, or widowed. You can collect spousal benefits as early as age 62, but in most cases, the benefits are reduced permanently if you start collecting early.
Can I collect spousal benefits and wait until I am 70 to collect my own Social Security?
You can only collect spousal benefits and wait until 70 to claim your retirement benefit if both of the following are true: You were born before Jan. 2, 1954. Your spouse is collecting his or her own Social Security retirement benefit.
Do Social Security spousal benefits increase after full retirement age?
Spousal benefits differ from personal benefits when it comes to delaying payments. If you delay personal benefits past full retirement age, the benefit increases over time. However, spousal benefits max out at full retirement age. There is no benefit to delaying your spousal benefit claim past your full retirement age.
What percentage of Social Security benefits does a widow receive?
Widow or widower, full retirement age or older—100% of your benefit amount. Widow or widower, age 60 to full retirement age—71½ to 99% of your basic amount.
How much will my Social Security be reduced if I have a pension?
We'll reduce your Social Security benefits by two-thirds of your government pension. In other words, if you get a monthly civil service pension of $600, two-thirds of that, or $400, must be deducted from your Social Security benefits.
Can I collect my husband's Social Security if he is still alive?
The earliest a widow or widower can start receiving Social Security survivors benefits based on age will remain at age 60. Widows or widowers benefits based on age can start any time between age 60 and full retirement age as a survivor.
What is the best Social Security strategy for married couples?
Coordinating your benefits with your spouse's benefits can help you both get the most out of your Social Security payments. In some cases, it makes sense for both spouses to claim on the same spouse's earnings record. Many couples use a "split strategy," which means they begin claiming at different ages.
When can a spouse claim spousal benefits?
You must have been married at least 10 years. You must have been divorced from the spouse for at least two consecutive years. You are unmarried. Your ex-spouse must be entitled to Social Security retirement or disability benefits.
Can I take my husband's Social Security instead of mine?
As a spouse, you can claim a Social Security benefit based on your own earnings record, or collect a spousal benefit in the amount of 50% of your spouse's Social Security benefit, but not both. You are automatically entitled to receive whichever benefit provides you the higher monthly amount.