turned 64 in July and my wife turned 62 in August. My wife has not worked for approximately 15 years but does qualify for Social Security on her prior work record. My wife is having some physical issues and would like to not return to work. Since she is eligible to collect Social Security, that would be an option to provide additional income, so she doesn’t have to work. My question is how would it affect her future SS spousal benefits based on my record if she begins collecting her own benefit now? I plan to work until at least my full retirement age (67), and maybe longer, but plan to start collecting SS at 67 even I continue working. Signed: Working Husband Dear Working: If your wife has the required 40 SS quarter credits, she is eligible to collect reduced retirement benefits at 62 (for that needed extra income), but her age 62 benefit will be about 70% of what it would be if she waited until her SS full retirement age (FRA) to claim. That reduction would, in turn, carry over to her spousal benefit when you eventually claim your SS benefit. Here’s why: Your wife’s spousal amount when you claim will be a combination of her own SS retirement benefit, plus an auxiliary amount (a “spousal boost”) that she is entitled to as your spouse. At age 62, her own benefit will be cut by 30% and she can collect that reduced amount until you claim, at which point her spousal boost will be added to make her benefit equal her spousal entitlement. So, her total benefit as your spouse (when you claim) will consist of her reduced age-62 amount, plus an additional amount as your spouse.If you claim at 67, your wife will be about 2 years short of her own FRA, which means that her spousal boost amount will also be reduced for early claiming. That reduced spousal boost will be added to her already reduced (age 62) SS retirement benefit, which will make her total benefit less than 50% of your FRA benefit amount.So, your wife claiming her own reduced SS retirement benefit at 62 also means her spousal benefit amount will be affected, and taking her spousal boost before her FRA means that the boost amount will also be reduced for early claiming. The only way your wife can get the full 50% ...
