I began taking my own Social Security benefit at 62, before my full retirement age of 66. I thought I could switch later to a spousal benefit, which would be higher. I have since read that I can't do that. Is that correct? It has been not yet a year since I started, so it is my understanding that I could pay the money back and "reset".
Began benefits last September.
I realize you have a question about social security. My goal is to help you better understand your options.Than you for your question - here's what the social security administration says about this issue: Question: Can I receive reduced retirement benefits at age 62 under my record then at full retirement age receive full spouse's benefits? Answer: When you apply for reduced retirement benefits, we will check to see if you are eligible for both your own retirement benefits and for benefits as a spouse. If you are eligible for both, we always pay your own benefits first. If your benefits as a spouse are higher than your retirement benefits, you will get a combination of benefits equaling the higher spouse benefit. If you choose to receive a reduced benefit before full retirement age, you are not entitled to the full spouse's benefit rate upon reaching full retirement age. A reduced benefit rate is payable for as long as you remain entitled to spouse's benefits.So, sadly you are correct you cannot get full spousal benefits after drawing early retirement. You can however pay back 100% of everything you have received from social security in one lump sum and rescind your application. You will need to act fast because you are coming up on a year since you started drawing benefits. SOURCEThank you for using JustAnswer. Please take a moment to rate my response as "EXCELLENT" So that I may be compensated for assisting you today. If you need follow up assistance, please hit "reply" or "continue conversation" before giving a rating of less than "OK SERVICE"
Tennessee CPA with a Masters of Accountancy from Ole Miss