Delayed Retirement Credits and Retroactive Benefits.

My husband (age 66) is currently accumulating delayed retirement credits which started in April 2017, while getting a spousal benefit via the restricted application. He would like to stop accumulating delayed credits and file for his own benefit starting in April 2018, so he will have acquired 12 delayed retirement credits total. I understand that he will initially receive the 9 credits earned in 2017, and the remaining 3 (or is it 4?) credits from this year will need to wait to be applied in Jan. 2019. So essentially he will lose out on ~$50 a month from May 2018-Dec. 2018 that he earned by delaying (approx $400), as Social Security does not reimburse that lost money if you file mid-year. Don't especially want to wait until Jan. 2019 (or up to a year later) to receive the benefit of the 3 additional delayed retirement credits.

So, my question is, can he file in April this year for retroactive benefits back 4 months to Jan 2018, thereby claiming only 9 delayed retirement credits?
If so, will he receive a lump sum payment for the difference between his own full retirement benefit + 9 delayed retirement credits minus the spousal benefit hes currently receiving?

Thanks!

Hi,

The answer to both of your questions is yes, but that's probably not your husband's optimal strategy. By starting his own benefits at age 66 & 9 months, his benefit rate will be roughly 26% lower than he would have received by waiting until age 70, and that lower rate would also apply to your potential widow's rate should he die before you.

Before filing, your husband may want to strongly consider using the maximization software available on this website to compare his options and determine his best overall strategy.

Best, Jerry