Q: A recent AARP Magazine article discusses Social Security spousal benefits.  I am 62 years old and my husband is 60.  I thought I would delay receiving benefits until I was 65 in order to receive a higher amount for life, but this article advises otherwise.  If I read it correctly I should collect on my benefits now which would be $732 and then at age 66 switch to spousal benefits of $899 which is half of what my husband will get at full retirement ($1798).  It would take me until I was 65 to receive that amount through my Social Security and I would lose all the money I could collect now.  Am I reading it correctly??   I haven’t read any other articles on this subject except this one and I am frankly confused.  Thanks for your time. - Marie, via the Internet.

A: I referred your article to the Social Security Administration. Their response: “In this example, the husband’s retirement benefit at full retirement age is $1798, so 50 percent of that amount ($899) would be the maximum that spouse could receive from his record,” says a Social Security Administration spokesman. “From that amount, we subtract the amount of the wife’s retirement benefit at full retirement age. If she’s currently receiving a reduced retirement benefit of $732, that means that her monthly benefit at full retirement age (66) would have been $976. This amount is higher than 50 percent of her husband’s retirement benefit at full retirement age ($899) so there would be no spousal benefit due later at age 66.”

Related posts:

1. Reader mailbag: Social Security COLAs and spousal benefits
2. Reader mailbag: Do IRA Withdrawals Affect Social Security Benefits?
3. How to get the most from your Social Security benefits
4. Reader mailbag: Social Security, rollovers and encore careers
5. Reader mailbag: Allocations, Social Security taxes and Roths

Tags | Social Security