How Do We Maximize Our Benefits?

Mar 20 2017 - 6:30am

Wife turns 66 on Febr 2018. I will be 66 on Nov 2020. My benefit at age 66 or delaying to age 70, is more than my spouse. How do we maximize our SSI benefits? Spouse will be drawing a pension, so social security is not a priority at her age 66. Is it possible for her to file a restricted application at age 66, and then can She draw on mine? Also how does that impact my future social security benefits?

Hi,

Your wife could file a restricted application for spousal benefits only at age 66 since she was born prior to January 2 1954, however, you must be drawing your benefits in order for her to receive spousal benefits. And, the earlier you start drawing benefits prior to age 70, the lower your monthly rate will be.

You don't say what type of other pension your wife will be drawing, but if it's a government pension based on work not subject to Social Security taxes, it could partially or fully offset any spousal benefits to which she'd be entitled (https://www.ssa.gov/pubs/EN-05-10007.pdf).

You should strongly consider using the maximization software available on this website in order to sort out all of your filing options and determine your best filing strategy.

Best, Jerry