Spouse Applying For Social Security In Queens
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This Social Security Spousal Rule Finally Fizzled Out in 2024 — But These 3 Strategies Remain. A Social Security spousal rule that was around for decades ended this year for the last eligible retirees — those who turned 70 on Jan. 1, 2024.
Randall, in order for your wife to be eligible for spousal benefits, you need to have already filed for your own benefits. If that's the case and your wife is at least 62 years old, she can apply for her spousal benefit.
Timing your first benefit payment Your first check won't arrive until the month after the one you pick in your application. You can apply any time up to four months before the month you pick. For example, you want your first check in April.
The Social Security spousal benefits loophole refers to strategies that some married couples have used to maximize their Social Security benefits. These strategies were allowed under prior rules but were curtailed by changes made in the Bipartisan Budget Act of 2015.
62 years of age or older.
Either spouse can maximize their regular Social Security benefit amount by waiting past their full-retirement age to apply, up to age 70. Benefits generally increase 8% each year filing is delayed.
Spouses and ex-spouses Payments start at 71.5% of your spouse's benefit and increase the longer you wait to apply. For example, you might get: Over 75% at age 61.
If the older spouse is the higher earner, it could be beneficial for them to delay taking benefits until age 70. The benefit will grow by about 8% for each year of delay, and the survivor benefit will also be higher.
The first exception, which can be deemed as the Social Security spousal benefits loophole, works where an individual who remarries at 60 or later may still be entitled to Social Security survivors' benefits if the second marriage ends before the death of the first spouse.
Social Security Strategies for Spouses With the first strategy, sometimes called the “62/70 split,” the lower-earning spouse takes Social Security as early as age 62 and the higher-earning spouse postpones filing until age 70 to maximize his or her benefit.
