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emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 2997
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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My wife has been collecting S.S. on her own account since

Customer Question

My wife has been collecting S.S. on her own
account since the age of 62 & she will be 69 in Sept. Is there any way she can make a financial adjustment with S.S. between what would have been 1/2 of my S.S. & her account since age 62. The idea would be that she can reapply for her own account again at age 70, which would be at a much higher rate.
Submitted: 11 months ago.
Category: Social Security
Expert:  emc011075 replied 11 months ago.

Hi. My name is ***** ***** I will be happy to help you.

Because she applied at 62, she will not qualify for 50% your benefits, only for about 35%. Because she is 69 already, if she switch now, her benefits will increase by about 8% by the age of 70.

Customer: replied 11 months ago.
1-She is currently receiving her benefit on her own account, what would she switch to? 2-Can she make an adjustment back to
62 so she can get 8% for each of 8 years at age 70?
Expert:  emc011075 replied 11 months ago.

What I means was to switch to spousal and allow her own to grow. No, she cannot retroactively change the benefits. When she applied at 62, she permanently reduced her benefits. That's the penalty for applying early. And even if it was possible, she would have to repay all her benefits she received for the last 7 years.

Expert:  emc011075 replied 11 months ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

Expert:  emc011075 replied 11 months ago.

I see you offline now. So if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.