I am 62 & my husband is 68. He plans to delay taking social security until he is 70. Can I take social security now based on my own earnings & then switch to taking half of my husband's benefit (based on his earnings) when he begins taking social security benefits at age 70? Is my benefit then based on what his benefit would have been at his full retirement age (66) or what he will get by waiting until he is 70?

Hi,

No. You can never switch to drawing just a spousal benefit after you've started drawing your own benefits. And, if you start drawing your own benefits prior to full retirement age (FRA), the resulting reduction in your benefit rate will continue even if you later become entitled to spousal benefits. Furthermore, if you do qualify for additional spousal benefits prior to FRA, those benefits will also be reduced for age.

For example, say Amy files for her Social Security retirement benefits at age 62. Amy's primary insurance amount (PIA) is $800, but she's paid a reduced rate of $576 because she filed early. By the way, a person's PIA is equal to the amount of their Social Security retirement benefit if they start drawing at FRA. When Amy turns age 64, her husband files for his benefits with a PIA of $2000. Amy's husband is filing at age 70 so his benefit rate inclusive of delayed retirement credits (DRC) is $2640, but Amy's spousal benefit is calculated based on his PIA, not his age 70 rate. Specifically, Amy's unreduced spousal rate would be calculated by subtracting her PIA from 50% of her husband's PIA, which in Amy's case is $200 (i.e. $2000/2 - $800). However, since Amy is only age 64 when she becomes eligible for her spousal benefits her rate is reduced for age to $155. That partial spousal benefit would then be paid in addition to Amy's own reduced rate of $576 to give her a combined rate of $731.

You and your husband have numerous possible filing options to consider, particularly since he was born prior to January 2 1954 and he hasn't yet applied for his benefits. The two of you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to analyze your various options in order to determine the best overall strategy for maximizing your benefits.

Best, Jerry