Can My Husband Get Half Of My Benefit When I Turn 70?

Category: 
Jan 4 2017 - 5:00pm

I will be 70 on Jan. 12 -- I am working part-time and took early Social Security benefits -- my husband turned 63 on 1/1/17 -- he is still working full time although he is in poor health -- someone told us that when I turn 70 he/we can draw 1/2 of what my Social Security is and he can continue working -- is this info. CORRECT?

Hi,

No, that's not correct at all. If your husband files for spousal benefits before full retirement age, he'll be deemed to have filed for benefits on his own record as well. He would then essentially get the higher of the 2 benefits, and his benefit rate would be permanently reduced. Furthermore, there is an earnings test (https://www.ssa.gov/planners/retire/whileworking2.html) that may limit his ability to receive benefits prior to age 66.

However, since your husband was born prior to January 2 1954, he could file for spousal benefits only when he reaches age 66 and let his own benefit rate grow until age 70. His spousal benefit rate at age 66 would be 50% of your full retirement age benefit rate. This may or may not be the best strategy depending on your relative benefit rates. You may want to consider running the maximization software available on this website to help you decide.

Best, Jerry