Nov
10
2010
By Guest (not verified)
Wife jis 62 and can receive 600 per month. Husband is 61 currently but will be 62 next year with 1600 per month. Will the wife's amount go up from her 600 to 1/2 of the husband's of 800 when he begins drawing at his 62nd birthday?
Spousal retirement benefits
You will want to consult with the SSA on this before deciding anything as you will want to work with correct numbers.
However, note the following excerpt from SSA documents :
If you choose to receive a reduced benefit before full retirement age on your own record, you are not entitled to the full spouse's benefit rate upon reaching full retirement age, and a reduced benefit rate is payable for as long as you remain entitled to spouse's benefits.
For someone age 62 now, full retirement age is 66. Here is a calcultor which will show the effect on the spousal benefit.
http://www.ssa.gov/OACT/quickcalc/spouse.html
If a spouse is eligible for a retirement benefit based on his or her own earnings, and if that benefit is higher than the spousal benefit, then SSA pays the retirement benefit. Otherwise SSA pays the spousal benefit.
http://www.ssa.gov/pubs/10147.html
Dual Entitlement
The spouse would receive reduced benefits off of his or her own record and reduced benefits from the spouse's benefit record when he or she starts drawing. If the numbers you provided are based on the PIA at full retirement age the following would be the combined benefit for the spouse who is entitled to $600 at FRA but files at age 62:
Own record = $600(192-11)/240= $452.50 rounded down to $452.00
Spouse's record= (1600/2)-$600= $200 OB (you now must reduce this for age) $200(180-11)/240 = $140.00
Combined amount at age 62= $452.00 + $140.00= $592