Larry- I will be 70 in March of 2021. Will then be changing from spousal to my own. Expect to get about $3400.00 per month. My wife (born July 1954) started hers at 62. On her own acct. she gets $1221.00. When I'm 70 will I have to reapply for my own? The other question is on her. When I'm 70 and she is 67-68 would it be better for her to switch to spousal till she is 70 and can she? Reading where she may not be old enough to do it and if so would it be practical since she started at 62? Thanks for your help.
Hi. Yes, you'll need to file a new application to switch from spousal benefits to your own Social Security retirement benefits. If you turn age 70 in March 2022 you can apply as early as November 2021, but if you already turned age 70 in March 2021 you could apply now and claim your benefits retroactively to March.
Your wife wouldn't be allowed to switch from her own benefits to spousal benefits. Once you start drawing your own Social Security retirement benefits, those benefits continue for life. A person can withdraw their application under certain circumstances, but only if they repay all of the benefits that have been paid to them and to any family members collecting benefits on their account.
If a person who is receiving their own benefits becomes eligible for a higher spousal or survivor benefit rate, they can continue to be paid their own benefits plus a partial spousal or survivor benefit. However, the only way that your wife could qualify for an additional spousal benefit when you start drawing your own benefits is if your primary insurance amount (PIA) is more than twice as much as your wife's PIA, and that doesn't sound likely given the benefit rates you mentioned in your question. A person's PIA is equal to their Social Security retirement benefit rate if they start drawing their benefits at full retirement age (FRA).
Your wife could voluntarily suspend her benefits between her full retirement age (FRA) and age 70 in order to earn delayed retirement credits, but she couldn't be paid spousal benefits while her own benefits are suspended (https://www.ssa.gov/benefits/retirement/planner/claiming.html).
Best, Jerry
