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lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 29933
Experience:  Taxes, Immigration, Labor Relations
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I'm collecting social security. Is faasf any value for me? I

Customer Question

I'm collecting social security. Is faasf any value for me?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I retired at 61. I started collecting soc.sec. at 63.
JA: Is there anything else the Accountant should be aware of?
Customer: I have a pension through Met Life and PBGC
Submitted: 2 months ago.
Category: Social Security
Expert:  lev-tax replied 2 months ago.

FAASF stands for "filing as a spouse first".
That means - if you are married - you may start receiving social security benefits based on your spouse's working record - and delay your own social security benefits.

That will allow your own benefits to be larger.

Unfortunately, not long ago the law changed eliminating most benefits of the FAASF strategy.

But the grandfathering provision allows you to use the FAASF strategy if you turned 62 by the end of 2015.