I am 70 and my wife is 66. She started to collect when she was 62. I took the spousal option until this year. She collects much less than I do. Question is, is the calculation for her to collect 1/2 of my payment based on what she actually collects or what she would collect if she had waited to full retirement age?

Hi,

Spousal benefits are calculated based on one-half of their spouse's full retirement age benefit (PIA). If they are also entitled on their own account, the spouses own PIA is deducted from that half. If the result is positive, that becomes the unreduced excess spousal benefit.

So, in order for your wife to receive a spousal benefit on your account, your PIA without adding delayed retirement credits would have to be more than twice as much as her PIA (i.e. the amount she'd have received on her own account had she started at full retirement age).

Best, Jerry