Filing for the restricted application can be done online at SSA The United States Social Security Administration is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors' benefits. To qualify for most of these benefits, most workers pay Social …Social Security Administration
Full Answer
What are the benefits of SSA?
Social Security's Disability Insurance Benefits are federally funded and administered by the U.S. Social Security Administration (SSA). Social Security pays disability benefits to you and certain members of your family if you have worked long enough... Social Security and Retirement.
What is social security restricted application strategy?
- Your spouse, who may not have reached their full retirement age, may be subject to the annual earnings limitation, which is $17,640 for 2019
- If your spouse has suspended their own worker benefit, no spousal benefit is available
- You may be affected by the Government Pension Offset
What is a SSA check?
Social Security has long been a cornerstone of American democracy. However, it has also undergone some dramatic changes in the over 80 years since its passage. While the core program remains ...
Can spouse benefit from your SSDI benefits?
You can collect Social Security disability benefits as a spouse, based on your own earnings, or you can apply under your spouse’s Social Security benefits. If you choose the latter, you will receive 50 percent of the amount that is allocated to your spouse, based on calculations pertaining to their retirement age.
Can I apply for restricted spousal benefits online?
Form SSA-2 | Information You Need to Apply for Spouse's or Divorced Spouse's Benefits. You can apply: Online, if you are within 3 months of age 62 or older, or. By calling our national toll-free service at 1-800-772-1213 (TTY 1-800-325-0778) or visiting your local Social Security office.
When can I apply for restricted spousal benefits?
You can use a restricted application to claim a spousal benefit while letting your benefit continue to grow if:You were born on or before January 1, 1954.You are currently married; or, you are divorced (and eligible for a benefit on an ex-spouse's record).More items...
How do I change my spousal benefit to online?
You will have to file an application to switch from survivor benefits on a late spouse's work record to retirement benefits on your own record. You should apply four months before you want your retirement benefit to start.
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.
Can I file for my Social Security at 62 and switch to survivor benefits later?
Social Security allows you to claim both a retirement and a survivor benefit at the same time, but the two won't be added together to produce a bigger payment; you will receive the higher of the two amounts. You would be, in effect, simply claiming the bigger benefit.
Can I apply for spousal benefits if my spouse has not filed?
To be eligible for a spousal benefit, your spouse must have filed for their own benefits. An ex-spouse is exempt from that rule.
Are spousal Social Security benefits automatic?
Hi Adam, Entitlement to spousal benefits is not automatic. Your wife would need to file an application in order to claim spousal benefits. And since she's already drawing her own retirement benefits, she won't be able to file for spousal benefits online.
Can you change Social Security benefits online?
If you already receive Social Security benefits, you can update much of your information online with your personal my Social Security account. If you need to make a change that cannot be done through my Social Security, you can contact us for additional support.
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.
How do I switch to spousal benefits?
Under this provision, you don't have a choice whether to wait and switch. When you apply for your retirement benefit, you're also automatically deemed to be applying for spousal benefits, if you're entitled to them. Again, Social Security will pay the greater of the two benefit amounts.
Can my wife claim spousal benefits before I retire?
No. You have to be receiving your Social Security retirement or disability benefit for your husband or wife to collect spousal 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 restricted application?
Restricted Application is a Social Security claiming strategy that is still available for those who were born before January 2 nd, 1954. People who are born on or after that date cannot use it due to the new “deemed filing” rules adopted by the Bipartisan Budget Act of 2015.
What happens if my spouse's retirement benefits are higher than my retirement?
If these benefits turn out to be higher than the retirement benefits your spouse receive, the higher amount will be locked in for both of you. If so happened to be that you pre-decease your spouse, he or she will be eligible to survivor benefits in the amount of your increased benefits.
How to lock in higher unemployment benefits?
Unfortunately, the only way to lock in higher benefit amount is to wait before claiming them as long as possible. That also means that you will need to either keep working longer or use some other funds to support you while you are waiting. Otherwise, you will need to start your benefits earlier and will be locked at receiving them at a lower amount for the rest of your life.
Documents you may need to provide
We may ask you to provide documents to show that you are eligible, such as:
What we will ask you
You should also have your checkbook or other papers that show your account number at a bank, credit union or other financial institution so you can sign up for Direct Deposit, and avoid worries about lost or stolen checks and mail delays.
What age do you have to be to file a restricted application?
You must reach full retirement age to file the restricted application; and
How to Apply?
You can apply for the restricted application in a Social Security office or go online at www.ssa.gov. We recommend you complete the application at a Social Security office because the online application is confusing and any unintended error may delay the application process. When you speak to an agent, be sure to distinguish between a “restricted application” and “file and suspend”. It is not uncommon for an agent to be unfamiliar with this claiming strategy.
How much Social Security will Mary receive after 76?
After the break even age of 76, Mary will be approximately $9,000 a year ahead for as long as she lives. The additional income received from Social Security over Mary’s lifetime could be as much as $100,000 ...
How old do you have to be to be married to an ex-spouse?
Ex-spouses? An ex-spouse can use this strategy as well provided he/she was married to the former spouse (must be age 62 and older) for at least 10 years and has not remarried.
What is restricted application?
The restricted application” is available to people born before Jan. 1, 1954, who have reached full retirement age. The purpose of it is to allow one spouse who has attained full retirement age – and is eligible for their own retirement benefit – to collect a spousal benefit only and defer their retirement benefit to earn delayed retirement credits ...
What to bring to the Social Security office for spousal benefits?
You may also have to bring additional information to the Social Security office, such as a marriage certificate, in order to process spousal benefits.
What questions do you ask when applying for retirement benefits?
When you apply for retirement benefits online, you will be asked questions about yourself along with your spouse, children, ex-spouse (if any), work, earnings and any other pensions or annuity income you may receive from employment as public-sector employee.
How many people are eligible for Social Security?
Roughly 10,000 to 15,000 people become eligible each day to file for Social Security retirement benefits, and, as the world goes, the Social Security Administration is driving them to apply for benefits online.
How long can you file a restricted application for spouse's retirement?
So long as one spouse is already claiming their own benefit, the other can file a “restricted application” for just their spousal benefit amount. Meanwhile, their own benefit continues to grow, earning delayed retirement credits of 8% per year until age 70.
What is the FRA age for restricted retirement?
Those who are eligible for the Restricted Application are clients born in 1953 or earlier, or on January 1, 1954. Their Full Retirement Age is 66 . (Caution: do not use an FRA of 66 as the marker for eligibility for the Restricted Application. Those born in 1954 also have an FRA of 66 , but are not grandfathered in.)
Can a divorced client get restricted Social Security?
Access to the Restricted Application can be an important strategy for a divorced client who was also the lower-earner. Having some income from Social Security at FRA and then an increase in monthly benefits at age 70 can make a tremendous difference in later retirement years.
Is restricted application a social security program?
But this is not what Social Security intended nor in the spirit of a social insurance program. Nevertheless, make sure any client born in 1953 or earlier, and who is married or divorced, considers if the Restricted Application strategy could make a difference in their retirement income plan. And, discuss the realities of one of the couple waiting until 70 to claim his or her own benefit.
Is the restricted application still available?
As you start your 2019 planning, keep in mind that one Social Security claiming strategy is still available for some clients: the Restrict ed Application. It is available for clients born in 1953 or earlier, or born on January 1, 1954, and who are married or divorced. This “almost-gone-but-clinging-to-the-edge” claiming strategy is alive and well.
Is Social Security a social insurance program?
Keep in mind that Social Security is a social insurance program. It has always been intended to provide a modest benefit for all who qualify. So, when you hear about a claiming strategy that allows a select group of retirees to claim one benefit today and get a much bigger payment later, that certainly flies in the face of the intended benefit. Coupled with the reality that changes are critical to shore up Social Security for the future, it’s easy to understand how a loophole that gave more to a select group was targeted to end.
Can an ex spouse claim on their FRA?
The Restricted Application is also available for otherwise eligible divorced individuals. At the client’s FRA, he and she may each be eligible to claim on their ex-spouse record, then switch to their own benefit amount at age 70. (The ex-spouse does not have to be claiming his or her benefit if the divorce was finalized more than 2 years ago.)
What does "deemed filing" mean?
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 rules for deemed filing apply only to retirement benefits based on your own work record and to the spousal benefits (including divorced spouse’s) you receive based on retirement. ...
Can I apply for spouse's benefits and delay filing for my own retirement?
Can I apply only for spouse’s benefits and delay filing for my own retirement benefit in order to earn delayed retirement credits? No, if you turn age 62 on or after January 2, 2016, you are required or “deemed” to file for both your own retirement and for any benefits you are due as a spouse, no matter what age you are.
How to apply for retirement benefits on spouse's record?
Go to www.ssa.gov. On the main page, click on “online services” and then select “apply for retirement benefits.” Since you are currently collecting benefits on your spouse’s record, you should be able to start a new application for retirement benefits under your own Social Security number.
Can you do business online with Social Security?
MBF: One of the silver linings of the pandemic is the Social Security Administration has made it easier to conduct business online and over the phone. In the past, you had to go to your local SSA office in person to switch from spousal benefits to your own maximum retirement benefits. But that’s impossible these days as Social Security Administration suspended face-to-face meetings in field offices in March 2020 due to the pandemic and shifted much of its workforce to handle phone inquiries.
Why did the spousal benefits change?
What is the reason for this change? Historically, if spousal benefits were higher than their own retirement benefit, they received a combination of benefits equaling the higher benefit. This change in the law preserves the fairness of the incentives to delay, but it means that you cannot receive one type of benefit while at the same time earning a bonus for delaying the other benefit.
When is deemed filing for retirement?
Deemed filing applies at age 62 and extends to full retirement age and beyond. In addition, deemed filing may occur in any month after becoming entitled to retirement benefits.
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.
What is a suspended retirement?
A worker at full retirement age or older applied for retirement benefits and then voluntarily suspended payment of their retirement benefits.
How old is Maria's husband?
Her husband, Joe, is 65. They have each worked enough years to earn a retirement benefit. In March of 2020, Maria has reached her full retirement age and files for benefits. Maria is eligible for a spousal benefit on Joe’s record. Maria must file for both benefits.
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.
Requirements
Minimize Longevity Risk
- This strategy has two goals in mind: maximizing expected lifetime benefits and minimizing longevity risk. Asa study published by The Journal of Financial Planning stated: “you can think of retirement resources as consisting of two parts: the financial portfolio and Social security benefit.” Delaying social security benefits can increase the overall longevity of a retirement strat…
A Real Client Example –Breakeven Point
- John and Mary are age 71 and 65. John began his monthly benefit at age 66 and Mary is just about to retire and is wondering whether she should file for her own benefit at her full retirement age 66. We created an analysis assuming life expectancy of 100 for both John and Mary and determined that a restricted application will reach the breakeven point at age 76 for Mary (see th…
Remember This
- Make sure that you have reached your full retirement age when applying for a restricted application; otherwise, Social Security will deem that you have applied for an early retirement benefit which will be a reduced amount. Also, once you apply for a restricted application, your Medicare account will be switched over to your spouse’s account under his/her Social Security n…
How to Apply?
- You can apply for the restricted application in a Social Security office or go online at www.ssa.gov. We recommend you complete the application at a Social Security office because the online application is confusing and any unintended error may delay the application process. When you speak to an agent, be sure to distinguish between a “restricted a...