- You must be at least at Full Retirement Age (FRA) to File and Suspend.
- Either spouse can File and Suspend, but not both. By Suspending, you are not eligible to receive a Spousal Benefit.
- If the non-Suspending spouse is under FRA and begins receiving Spousal Benefits, he or she will no longer be earning Delayed Retirement Credits (DRCs) ...
- The spouse that has not Filed and Suspended can receive Spousal Benefits based on the other spouse’s record at any age over 62 – but the amount of the ...
Full Answer
Why would my social security be suspended?
Why is this? Thanks, Steve Hi Steve, Social Security retirement benefits are based on an average ... benefits at 62 in 2011 in the amount of 1,379. At 66 in 2016, I suspended my benefits for 22 months. I started my benefits again in late 2017.
What if your Social Security number is suspended?
“Social Security numbers do not get suspended. This is just a variation of a government imposter scam that’s after your SSN, bank account number, or other personal information.” The ...
Can Social Security benefits be stopped or suspended?
You may have a letter from the Social Security Administration (SSA) about suspending or terminating your benefits. While it’s easy to determine why payments stopped in some circumstances, others aren’t so clear. In fact, the SSA can stop your benefits without you expecting any changes and with little or no communication.
Can you suspend Social Security and restart benefit later?
Prior to the Bipartisan Budget Act of 2015, individuals used to be able to collect Social Security benefits at age 62, suspend benefits, and restart them later. Now, if you collect any time before...
Can you still file and suspend Social Security benefits?
If you are already entitled to benefits, you may voluntarily suspend retirement benefit payments up to age 70. Your benefits will be suspended beginning the month after you make the request. We pay Social Security benefits the month after they are due.
How do I pause my Social Security benefits?
HOW TO SUSPEND YOUR BENEFITS. To file for a voluntary suspension of benefits, contact the Social Security Administration either by phone, mail or by visiting your local Social Security office. After you make the request, your benefits suspension can begin as soon as the following month.
Can Social Security be stopped and restarted?
If you change your mind about starting your benefits, you can cancel your application for up to 12 months after you became entitled to retirement benefits. This process is called a withdrawal. You can reapply later. You are limited to one withdrawal per lifetime.
Who is eligible for file and suspend?
Congress made two major changes in the law. Your spouse or children cannot collect benefits on your work record while your own benefits are suspended. Under “deemed filing” rules, married people filing for Social Security at any age are automatically claiming both their retirement and their spousal benefit.
Can you freeze your Social Security number?
If you know your Social Security information has been compromised, you can request to Block Electronic Access. This is done by calling our National 800 number (Toll Free 1-800-772-1213 or at our TTY number at 1-800-325-0778).
How long can I delay taking Social Security?
If you start receiving retirement benefits at age: 67, you'll get 108 percent of the monthly benefit because you delayed getting benefits for 12 months. 70, you'll get 132 percent of the monthly benefit because you delayed getting benefits for 48 months.
Is it better to take Social Security at 62 or 67?
The short answer is yes. Retirees who begin collecting Social Security at 62 instead of at the full retirement age (67 for those born in 1960 or later) can expect their monthly benefits to be 30% lower. So, delaying claiming until 67 will result in a larger monthly check.
How long does it take to get Social Security benefits reinstated?
about three monthsIt takes SSA about three months to reinstate your benefits—and you would receive a lump sum payment of the money owed to you for the time after your income dropped below the BEP.
How does Social Security work?
The Social Security Administration awards a certain percentage of retirement benefits according to the age at which you retire: 1 Early retirement age. When beneficiaries retire before the full, or normal, retirement age, their benefit amount is reduced by a graduating fraction in order to help their benefits last longer throughout their retirement. For example, if the normal retirement age is 65 and you elect to retire at 62, your monthly benefit will be reduced by 20% of amount you would receive at 65. 2 Normal retirement age. The normal retirement age depends on an individual’s year of birth and is also dependent on changes to Social Security policies over time. Currently, retirees born before 1943 can receive a full benefit amount at age 65. Those born after 1943 and before 1960 must be 66, and anyone born after 1960 must be 67. 3 Late retirement age. Delaying retirement payments until the age of 70 is considered late retirement and allows you to earn extra retirement credits that increase your monthly benefit once payments begin. The percentage of credit you receive for each year you delay retirement depends on your year of birth.
Can a spouse receive spousal benefits without collecting?
Originally, the benefits of filing for retirement benefits and suspending payment helped beneficiaries of an eligible age allow their spouses to receive a spousal benefit payment without collecting payments from the primary benefit account. This meant that a retiree could still accrue credits for delayed retirement, thus increasing their future payment amount, while their spouse received dependent benefits.
When does Social Security suspension begin?
The suspension would begin the month after you make the request. Social Security benefits are paid the month after they are due. So, for example, if you contact the Social Security Administration in June and ask to suspend your benefits, you will still receive your June benefit in July.
How much is Survivor Benefits worth?
Survivor benefits are worth up to 100% of what a deceased worker was collecting or entitled to collect at the time of death. Initially, Randy collected just 75% of his full retirement age benefit because he claimed Social Security four years early, at age 62.
Does Randy's wife have Social Security?
In Randy’s case, his wife is 62 and has not yet claimed Social Security, so his decision to suspend his benefits would not affect her at the moment but it could create a larger survivor benefit in the future. Survivor benefits are worth up to 100% of what a deceased worker was collecting or entitled to collect at the time of death.
Can you receive spousal benefits on someone else's record?
And you cannot receive benefits on someone else’s record, such as spousal benefits on your mate’s earnings record, during the suspension. There is one exception: A divorced spouse can continue to receive benefits on your earnings record even after you suspend your benefits.
Why File and Suspend?
The main reason for File and Suspend is to allow the Suspending spouse to delay receiving benefits, earning up to 8% in Delayed Retirement Credits (DRCs) per year.
About the author
Jim Blankenship is the founder and principal of Blankenship Financial Planning, Ltd., a financial planning firm providing hourly, as-needed financial planning and advice.
What happens if you suspend your retirement?
Once you’ve suspended your retirement benefit, it will begin earning delayed retirement credits (DRCs) at the rate of 8% a year. That’s 8% of the benefit you were receiving at the time you suspended it. The primary reason to file and suspend is to allow your spouse to file a spousal benefit based on your earnings record.
Can you increase your spousal benefits if you are already collecting?
Suspending your retirement benefits will allow them to grow when you resume them. But if your spouse is already collecting a spousal benefit based on your earnings record, that benefit will not increase. Spousal benefits are not based on your actual retirement benefits.
Can you file and suspend for spousal benefits?
A: The first thing to know about file and suspend is that it only applies to the retirement benefit of the person who is taking the action. You can’t file and suspend for a spousal benefit or a survivor’s benefit. If you’ve begun taking your retirement benefit before full retirement age (FRA), which is 66 for people now approaching retirement, ...
Who is Philip Moeller?
Philip Moeller is an expert on retirement, aging, and health. He is co-author of The New York Times bestseller, “Get What’s Yours: The Secrets to Maxing Out Your Social Security,” and is working on a companion book about Medicare. Reach him at [email protected] or @PhilMoeller on Twitter.
When did Social Security suspend?
Due to Social Security rules that became law in November 2015, the file and suspend strategy is no longer available for couples. It worked for those who suspended benefits on or before April 30, 2016.
What is the file and suspend strategy?
The file and suspend strategy allowed your spouse to collect a spousal benefit based on your earnings record while you delayed the start of your own benefits, thus maximizing your own benefit by accumulating delayed retirement credits. This strategy worked if you attained your full retirement age and suspended benefits prior to April 30, 2016.
When did you stop your own benefits?
Up until April 30, 2016, you were able to do this, and stopping your own benefits had no effect on any dependent benefits. After April 30, 2016, when you suspend your own benefits, it also suspends any spousal benefits that are payable.
Can you claim your own benefits at age 70?
If you are the higher earner, you should strongly consider delaying the start of your own benefits to age 70. Doing this will result in a higher survivor benefit for either one of you. This is still the case, even with the new rules. If you are a widow or widower, you also still have several claiming options.
Can my spouse collect my Social Security?
Benefits of the Strategy. Your spouse can't collect a spousal benefit based on your earning’s record until you've applied for your own Social Security retirement benefit. By suspending your benefits, you enabled your spouse to collect a spousal benefit while your own Social Security benefits accumulated delayed retirement credits ...
How to request a suspension of Social Security?
When you resume collecting Social Security, you’ll have locked in a higher monthly payment for life. You can request a suspension by phone, in person at your local Social Security office or in writing.
What happens to Social Security if you are suspended?
When you resume collecting Social Security, you’ll have locked in a higher monthly payment for life.
When can I get my Social Security benefits back?
You can ask Social Security to resume payments at any time until you turn 70. If you haven’t done it by then, Social Security will automatically reinstate your benefits in the higher amount.
Can I suspend my Social Security benefits?
Can I suspend Social Security benefits and restart them at a higher value? En español | Yes. If you have reached your full retirement age (the age at which you are entitled to 100 percent of the benefit calculated from your lifetime earnings) but are not yet 70, you can request a suspension of retirement benefits.
Can I collect my wife's Social Security if my husband's Social Security is suspended?
Similarly, you cannot collect spousal benefits on your wife’s or husband’s record if your own retirement payments are suspended. If you have not yet reached full retirement age — currently 66 and 2 months and gradually rising to 67 — the only option for stopping Social Security payments is to apply for a “withdrawal of benefits,” ...
Can you collect family benefits if you are suspended?
A voluntary suspension is for retirement benefits only. There is no such provision for family and survivor benefits. As long as your retirement benefits are suspended, your spouse and children cannot collect family benefits on your work record.
When do retirement benefits end?
The suspension ends with the earlier of the month before you turn age 70; or the month after your request to resume benefits is made. For more information, see Suspending Your Retirement Benefit Payments .
What happens if you are 6570?
If you have reached full retirement age, but are not yet age 70, you can ask us to suspend your benefits to earn delayed retirement credits. If your benefits are suspended, you will not be able to receive benefits on someone else’s Social Security record.
When do you have to file deemed filing?
In addition, deemed filing may occur in any month after becoming entitled to retirement benefits. Deemed filing means that when you file for either your retirement or your spouse’s benefit, you are required or “deemed” to file for the other benefit as well. The Bipartisan Budget Act extends deemed filing rules to apply at full retirement age ...
What is voluntary suspension?
The worker’s voluntary suspension permitted a spousal benefit to be paid to their spouse while the worker was not collecting retirement benefits. The worker would then restart their retirement benefits later, for example at age 70, with an increase for every month retirement benefits were suspended.
Can a spouse receive spousal benefits at full retirement age?
Previously some spouses received spousal benefits at full retirement age, while letting the retirement benefits based on their earnings record grow by delaying to file for benefits.
Does Jennie receive her own retirement?
She does not start her own retirement benefit, allowing it to grow. At age 70, she starts her own increased retirement benefit, which she will receive for the rest of her life. The new law does not affect her because deemed filing does not apply to widows and widowers. Jennie will receive the higher of the two benefits.
Does deemed filing apply to survivors?
Deemed filing applies to retirement benefits, not survivor’s benefits. If you are a widow or widower, you may start your survivor benefit independently of your retirement benefit. De emed filing also does not apply if you receive spouse's benefits and are entitled to disability, or if you are receiving spousal benefits because you are caring for ...
