Question:
Dear Dr. Don,
I don't plan to start receiving my Social Security retirement benefits until I am 65 years old. However, my wife plans to collect hers at age 62 -- five years before I turn 65. Can I collect a spousal benefit before I start to collect my retirement benefit?
-- Ed Expects
Answer:
Dear Ed,
It's a common misconception you can switch from receiving a spousal benefit to receiving a retirement benefit when you reach full retirement age. You can't.
When you apply for Social Security benefits, the Social Security Administration considers your work history and what you would receive as a spousal benefit, and it pays you a benefit equivalent to whichever approach generates a higher payment at the time you apply. You don't switch over at full retirement age to a benefit based on your work record from a spousal benefit because your work record was used when you initially applied for benefits.
From your letter, I take it that you are two years younger than your wife. Barring any special situations, your wife has to be collecting benefits based on her work record, and you have to be at least 62 before you can apply for spousal benefits. Also, for planning purposes, your full retirement age isn't 65, it's at least 66.
