Hi Larry,
My husband will begin collecting Social Security in June, when he turns 70. I will begin collecting in July, 2025, when I reach full retirement age of 66 years 8 months. While I have earned enough to collect my own benefit, my husband’s benefit is considerably higher, so I will choose to collect half of his instead of my own. My question is: will the half I collect be based on what the amount was when he reached his full retirement age, or will it be based on the amount he will be collecting when he turns 70 (which of course is the higher amount)? Thank you!

Hi. The maximum spousal benefit rate is 50% of the worker's primary insurance amount (PIA), and the worker's PIA is equal to the amount they'd receive if they start drawing their benefits at full retirement age (FRA). So, if you file for benefits at your FRA, you'll be paid the higher of your own PIA or 50% of your husband's PIA, not 50% of his age 70 rate.

To be clear, though, your husband's PIA will continue to increase when Social Security has a cost of living (COLA) increase. And, your spousal rate will be calculated based on 50% of your husband's PIA at the time you apply for benefits, not 50% of what his PIA was at the time he reached FRA.

Best, Jerry