Spousal Social Security Benefit
My spouse will be taking spousal social security benefits. I have heard that her benefit will be capped at the age of 67 and not receive the 8% increase if she waits to age 70 to draw on social security. Is this true? Thank you
Terry Says
The maximum spousal benefit at her full retirement age, is 50% of the maximum worker’s benefit at HIS full retirement age. She should wait til HER full retirement age to claim a spousal benefit. BUT she must be careful to say she is claiming ONLY her spousal benefit — not her own. If the worker-spouse dies, the widow(er) can claim the full benefit the deceased spouse was receiving, including delayed retirement credits.
I highly recommend you go to MaximizeMySocialSecurity.com to work out the alternatives, and get the correct amounts. It costs $30 and could keep you from making an expensive mistake.
