i will reach FRA 1-2019 and plan on filing for my social security benefits and will continue to work . My wife will reach FRA 8-2019. We understand that she could file for spousal benefits when she reaches FRA. She would suspend her benefits until age 70 when she files for the spousal benefit. Will her benefits grow at the 8% per year or is it that since she is getting spousal benefit and has suspended her benefits that it does not grow at the 8% per year

Hi,

Your wife's retirement benefit rate would grow by 8% per year whether she files for and suspends her benefits at full retirement age (FRA) or if she simply doesn't file for her own benefits. However, if she files for and suspends her benefits at FRA she WILL NOT be able to receive spousal benefits. Therefore, what it sounds like she would want to do at FRA is file just for spousal benefits only. She would then need to file a separate application for retirement benefits when she wants to start drawing on her own record, presumably at age 70. And, she'd still get the 8% per year increase in her own retirement rate even if she's drawing spousal benefits between FRA and age 70.

Please note that I don't have any information about your circumstances, so I don't know whether or not your plan is optimal. You and your wife may want to strongly consider using our maximization software to compare your options and determine your best possible strategy.

Best, Jerry