My wife will turn 62 in a few months. She spent most of her adult years raising a family but did work sufficiently to be eligible for social security. I am planning on waiting until 70 to begin to receive social security and at that time she will receive 50% of my amount. I simply want to confirm that she can apply for her own social security at age 62, receive it until I turn 70 and then receive 50% of my amount at that time. We are both the same age.

Hi,

No, your wife cannot start drawing her own benefits at age 62 and switch to a full 50% of your benefit amount when you start drawing your benefits. Once a person files for their own retirement benefits, that becomes their primary benefit for life. Any other type of benefit (e.g. spousal, widow) for which they subsequently qualify could only be paid as a partial secondary benefit. So, if your wife files for reduced benefits on her own record at age 62 she will keep the resulting reduction for age for as long as both of you are living.

For example, say Kate files for her retirement benefits at age 62. Kate's full retirement age rate, or primary insurance amount (PIA), would be $600, but her reduced age 62 rate is $440. Eight years later when Kate's husband turns age 70, he applies for his benefits. Kate's husband's PIA is $2000, and Kate's spousal benefit would be calculated by subtracting her PIA from 50% of her husband's PIA, which would amount to $400 (i.e. $2000/2 - $600) in this example. Kate would then be paid a combined benefit rate equal to the sum of her reduced retirement rate and her spousal rate, or $840 (i.e. $440 + $400) in this example.

Before filing, you and your wife should strongly consider using our software in order to explore and compare your various options so that you can determine the filing strategy that you feel would be optimal in your case.

Best, Jerry