I turned 66 in May, 2016 and husband in June 2016. Neither have filed for benefits yet. Husband still working, I have modest earnings. We are confused as have gotten different asnwers from SS reps:
Can I start my benefits now and husband claim Spousal Benefits on my small amount?
Then, when husband stops working, can we switch, with no penalty, to him taking his full benefits and me as Spousal Benefits claim?
We are concerned SS may "lock us in" to my small amounts and want to be sure we can switch over at a later date. No one seems to have final, in writing, confirmation.
Thank you so much! Beverly

Hi Beverly,

Yes, in fact you can start your benefits retroactively back to May 2016 if you file your application this month. Your husband can then file a restricted application for spousal benefits only to start effective June 2016 if that's when he reached age 66. This is probably your best strategy, especially if your own benefit amount would be less than 50% of your husband's full retirement age benefit amount (PIA), even if you waited until age 70 to start drawing.

When your husband subsequently switches to his own record, you can also file for an excess spousal benefit on his record. You won't switch to his record at that time, though. Assuming that half of his PIA is higher than your own full benefit rate, you would continue to receive your own benefit plus the difference between one-half of his PIA and your own full benefit amount. The total amount payable would be equal to half of his full retirement age benefit rate.

Your husband's own benefit rate will not be penalized if he first receives spousal benefits on your record. If he waits until age 70 to switch to his own account, his benefit rate will be 32% higher than it would have been had he started at age 66. This may well be his best strategy, but you may want to consider running the maximization software available on this website to be sure that you both choose the best filing options.

Best, Jerry