Hi Larry,
I will be 62 August 2018 and thinking of drawing Social Security. My husband is still working and will not be eligible to draw until April 2020, will be 62. I do not have a pension and am confused regarding spousal benefits. I am unclear since he will not be on social security will I not receive the spousal benefit if I draw first?

Hi,

You can't receive spousal benefits at least until your husband starts receiving his benefits. And if and when you qualify for both spousal benefits and retirement benefits on your own record, each benefit rate will be calculated separately. For example:

Say Mary files for her retirement benefits at age 62. Mary's full retirement age rate (PIA) would be $800, but her reduced age 62 rate is $600. Two years later when Mary is age 64 her husband files for his retirement benefits. Mary's husband's PIA is $2000, so Mary's unreduced spousal benefit rate would be calculated by subtracting her PIA from 50% of her husband's PIA, which in this case would be $200 (i.e. $2000/2 - $800). However, since Mary starts drawing spousal benefits before her full retirement age her rate is reduced to $161, which would then be added to her reduced retirement benefit to give her a combined benefit rate of $761 (i.e. $600 + $161).

Before filing, you and your husband should strongly consider using our maximization software to explore and compare your options in order to determine your best overall filing strategy.

Best, Jerry