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Is It Correct That Spousal Benefits Are 50% Of The Amount I Would Have Received At Age 66?
I retired at 67 and received the 8% increase in my benefits. I was under the impression that spousal benefits would be 50% of this amount. SSA has informed me that is incorrect. Spousal benefits are 50% of the amount I would have received if I began taking my benefits at 66. Is this correct?
Hi. Yes. Unreduced spousal benefits are calculated based on 50% of the worker's primary insurance amount (PIA), and the PIA is the amount the worker would receive if they start drawing benefits at full retirement age (FRA). However, if you die before your spouse, they could get up to your full benefit rate as a widow(er). Thus, the 8% increase you earned by waiting until age 67 to start your benefits can potentially be passed on to your spouse in the form of survivor benefits.
Best, Jerry
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November 1, 2022