Spousal Social Security Benefit

[RunnerDude]

I have a client who just turned 65 and wants to start social security. His wife, who is two years older, began her social security about four or five years ago. They have be married for about 40 years. Her social security benefit is about $500 less per month than 50% of her husband's. My question is, can my client's wife claim a spousal benefit to receive an extra $500 per month after her husband's benefit payment begins? if so, does this occur automatically, or will she have to complete a form or apply on SSA.gov?

 

[somarco]

[EXTERNAL LINK] - Benefits for Spouses

[EXTERNAL LINK] - Benefits Planner: Retirement | Filing Rules for Retirement and Spouses Benefits | SSA

[EXTERNAL LINK] - Benefits Planner: Retirement | Benefits For Your Family | SSA

 

[rmhaire]

I have a client who just turned 65 and wants to start social security. His wife, who is two years older, began her social security about four or five years ago. They have be married for about 40 years. Her social security benefit is about $500 less per month than 50% of her husband's. My question is, can my client's wife claim a spousal benefit to receive an extra $500 per month after her husband's benefit payment begins? if so, does this occur automatically, or will she have to complete a form or apply on SSA.gov?

Short answer is yes but it's not automatic. You have to request it. Also, never fill out a form or apply online unless you have to. Why?

Sometimes you can get a representative that will give you more. A rep will look at your situation an actually give you a particular benefit you qualify for that you didn't know about. A form won't do that.

Columbus Life has a complete marketing kit on Social Security that covers this stuff. Go get you one.

 

[LostDollar]

I have a client who just turned 65 and wants to start social security. His wife, who is two years older, began her social security about four or five years ago. They have be married for about 40 years. Her social security benefit is about $500 less per month than 50% of her husband's. My question is, can my client's wife claim a spousal benefit to receive an extra $500 per month after her husband's benefit payment begins? if so, does this occur automatically, or will she have to complete a form or apply on SSA.gov?

Caveat, I am NOT an agent.

I deleted a prior post which contained some incorrect information.

I think you should have your client get the correct spouse amount from Social Security.
I think it will probably be less than 1/2 of his benefit.

Your post suggests wife is 67 and retired at 62.

If wife retired at 62 and husband retired at 65, it seems like the wife should have a larger early retirement penalty % applied to her spousal benefit than the husband would have applied to his retirement benefit. Since both of those computations start with exactly the same number (husband's primary insurance amount), it seems like the wife's spouse benefit would come up less than 50% of husband's retirement benefit.

 

[WinoBlues]

Short answer is yes but it's not automatic. You have to request it. Also, never fill out a form or apply online unless you have to. Why?

Sometimes you can get a representative that will give you more. A rep will look at your situation an actually give you a particular benefit you qualify for that you didn't know about. A form won't do that.

Columbus Life has a complete marketing kit on Social Security that covers this stuff. Go get you one.

This ^

'Order' life insurance online, or speak with an experienced agent?

 

[LostDollar]

(Caveat, not an agent)

Here is a calculator I was just using that may be of use to you and your clients:

[EXTERNAL LINK] - Social Security Calculator: Get Started