Can I Apply For And Suspend My Benefits In Order To Permit My Daughter To Receive Benefits?

Category: 
Jun 21 2017 - 6:40am

Hello Larry, Thank you in advance for your advise. I just turned 62 and heard of SS payments for my 14 year old daughter. I do not plan to retire until I am 68 years old. Can I apply for my SS benefits and then suspend them to allow my daughter to qualify for benefits? Does this reduce my monthly benefit when I retire at age 68. Are there any additional concerns I should consider? Thank you , Guy

Hi Guy,

No, you can't voluntarily suspend your benefits until full retirement age (FRA), which is age 66 & 2 months if you were born in 1955. Even if you did suspend your benefits, though, that wouldn't allow your daughter to receive child's benefits on your record under the new law (https://www.ssa.gov/planners/retire/suspendfaq.html).

You could file for reduced benefits at age 62 in order to allow your daughter to qualify for child's benefits, but the Social Security earnings test may prevent either of you from receiving benefits if you earn too much. For information about the earnings test, refer to Social Security's website: https://www.ssa.gov/planners/retire/whileworking2.html.

You should strongly consider running the maximization software available on this website in order to explore your filing options and determine the best strategy for you and your family.

Best, Jerry