When Can I Switch From Spousal Benefits To Retirement Benefits?

Apr 16 2017 - 6:43am

Hi Larry,

I have a question regarding filing a "Restricted application for spousal benefits". My wife will turned 62 in May 2017 and I will be 66 in October 2017. My wife has filed for her retirement benefits. I plan on filing for a "Restricted" application for spousal benefits only 3 months before I turn 66. Can I then file for full retirement benefits at age 67 or 68, or do I have to wait until I am 70 before filing for full retirement benefits? Can my wife then file for supplemental spousal benefits at the age I retire, whether at 67 or 68?

Thank you.

George

Hi George,

You could switch to your own record at any time after you've started receiving spousal benefits, but it would probably be most advantageous for you to wait until age 70. And, yes, your wife could potentially be eligible for an excess spousal benefit on your record when you start drawing on your own record, but only if 50% of your full retirement age rate (PIA) is higher that her PIA.

You may want to strongly consider running the maximization software available on this website in order to determine the best strategy for you and your wife.

Best, Jerry