I started taking my SSI benefit when I turned 66 while I was still working full time. The taxes are killing me. I want to suspend my SSI benefit and resume it later at a higher rate.
I am currently going thru a divorce. Divorce papers have been filed but not served.
Am I in danger of not having my benefit increase because of the divorce? Wife currently has a survivor payment if something happens to me. I don't think she will get any more of my SSI benefit in the divorce. She has a good pension and I don't.
Can I assume I have minimal risk in suspending my SSI benefit?
thank you in advance for your reply. Wayne
Getting a divorce wouldn't preclude or delay any future benefit increase that you would be due as a result of voluntarily suspending your retirement benefits. Nor would the voluntary suspension of your benefits adversely affect your wife's entitlement unless she is receiving spousal benefits on your record. In that case her spousal benefits would also be suspended during the months that your benefits are in suspense, at least up until the month that your divorce is final.
I don't know of any risk involved in suspending your benefits other than the fact that you would not be able to reinstate your benefits until effective with the month after the month of your request (https://www.ssa.gov/planners/retire/suspendfaq.html).