1. I started benefits at 62, now I am 67 (in 2 months). Is there an advantage to stop now and restart at 70 if I am not going to be working more?
2. My husband who is still working and 63 yrs old, plans to work till 70 but file for my spousal at 67.
3. Can we both file for spousal on each other when he is 67 and then start our own benefits when we each reach 70?

Hi,

I'll address your questions in order:

1) Yes, at least potentially. If you voluntarily suspend your benefits effective with the month you reach age 67 and resume them at age 70, your benefit amount will be 24% higher when they resume. That may not be an advantageous strategy, however, depending on your husband's benefit amount in relation to yours.

2) Not a question, I guess, but your husband should file a restricted application for spousal benefits only on your account when he reaches full retirement age, which is 66 not 67 in his case. However, if your benefits are voluntarily suspended when he becomes eligible, he will not be able to receive spousal benefits until your benefits resume.

3) No, you can't do that. In order to be eligible for a spousal benefit, your spouse must be receiving benefits on his or her own account. So, only one member of a couple can file for just spousal benefits while allowing their own benefit to grow until age 70. You have already filed for benefits on your own account, so only your husband is still able to pursue this strategy.

The best strategy for you and your husband depends of a number of factors, so you may want to run the maximization software available on this website if order to assure yourself of making the best choices.

Best, Jerry