I am divorced but was married for 20+years. I will be 66 on Dec 29, 2016. I wanted to begin receiving 1/2 of my ex husbands retirement and not collect on my own until I'm 70. Since the laws have changed not sure if this is still possible. Is this the action of "deferring" or "postponing? " If I do this, what will my benefit be at age 70? I've read my own benefits will collect 8% interest, how is this calculated? If I want to continue to work full or part time while I receive the benefits from my ex, will I continue to contribute to my social security benefits? If so, will my benefit increase at age 70?

Jo Ann,
If you have been divorced for at least two years or your Ex-husband has filed for his retirement benefit, then you can receive your divorced spouse's benefit while you delay your retirement benefit until age 70. Since you were born before 2 Jan 1954 the Bipartisan Budget Act doesn't affect you. You should file a restricted application for divorced spouse's benefits only at your full retirement age (FRA) in Dec 2016. Then you should file for your retirement benefit in Dec 2020. You benefit at age 70 will be 32% higher than your benefit at your FRA. If you continue to work in covered employment, i.e. employment in which you pay Social Security taxes, and your future earnings are larger than any of your past indexed earnings in your current high 35 years of earnings, then the lower earnings will be replaced by the higher earnings and your benefit will be increased. You can use our software, MaximizeMySocialSecurity, to calculate your age 70 benefit with and without future earnings.
Best,
Mike