Hi Larry, I just turned 66 (my FRA) and will start spouses benefits next month (Feb) on a restricted application ($947). My husband started his SS at age 62. My intention is to take my SS benefits when I turn 70 instead of my FRA because of the increased amount based on estimate per my SS statement.($1400 versus $1800+ per month). However, due to a work related injury, I have not worked for almost two years and I may not be able to work any time soon. (I may just retire instead, not sure yet.) My question is with me not working will my SS benefits still increase each year to a higher amount that is estimated on my SS statement for when I turn 70 or is the fact I have not been working going to stop that increase each year? I am trying to determine if I should just take my FRA SS benefits now instead of waiting until I"m 70 if there is no increase due to not working? I recently heard conflicting information. I was told by SS that I can stop my spousal benefit and take my FRA SS at anytime. Does that sound correct? Thank you for your time and consideration.

Hi,

Even if you do no additional work, your own retirement benefit rate will increase by 32% if you start drawing it at age 70 as opposed to age 66. That is the effect of delayed retirement credits (DRC), and it has nothing to do with earnings (https://www.ssa.gov/planners/retire/delayret.html).

You could switch from spousal benefits to your own retirement benefits at any time, but it sounds like you're on the right track waiting until age 70 to make the switch. You may want to use our maximization software in order to compare your filing options so you can decide for yourself what to do.

Best, Jerry