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PDtax
PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4408
Experience:  35 years tax and professional advice in all matters money
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I am 68 and collecting my soc sec while still working. Our

Customer Question

I am 68 and collecting my soc sec while still working. Our finincail advisor said that when my wife turns 66 at the end of June she can collect spousal benefits off of mine rather than hers; is that a true statement?
Submitted: 1 year ago.
Category: Social Security
Expert:  PDtax replied 1 year ago.
Welcome to the site. I'mCustomer and will be helping you today.
That is a true statement. In fact, she could have collected off your wage record earlier.
If she has been collecting already, she will be considered claiming early, and her spousal benefit will be reduced because of the early start to benefits.
Her spousal benefit will be made up of her benefit on her work history, and an addition to bring her up to the spousal benefit, which could be 50% of your benefit.
From SSA:
"Here is an example:
Mary Ann qualifies for a retirement benefit of $250 and a spouse’s benefit of $400. At her full retirement age, she will receive her own $250 retirement benefit, and we will add $150 from her spouse’s benefit, for a total of $400. If she takes her retirement benefit before her full retirement age, both amounts will be reduced.
If you wait until you reach full retirement age to apply for spouse’s benefits, you will receive the maximum benefit, which is up to half of the amount your spouse is entitled to receive at full retirement age. If you have reached full retirement age and you are eligible for a spouse’s benefit and your own retirement benefit, you may have options to increase your own retirement benefit amount."
https://faq.ssa.gov/link/portal/34011/34019/Article/3754/What-is-the-eligibility-for-Social-Security-spouse-s-benefits-and-my-own-retirement-benefits is the link to that web page.
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