Ask Larry

I understand that If I file for spousal benefits at my (FRA), that I will receive 50% of my husband's full unreduced retirement age rate (PIA) even though he started drawing his benefits at 62. I know what he would have received at full retirement age 12 years ago. My question is will that amount have grown over the ensuing years (by SS COLAs or whatever)? We are both pre-1954 born.

Hi,

Yes, your husband's primary insurance amount (PIA) would have increased with every Social Security cost of living increase (COLA) that occurred after he reached age 62. It may have also increased due to his additional earnings if your husband worked after filing for his benefits, but only if those earnings were among his highest 35 years of wage-indexed earnings (https://www.ssa.gov/pubs/EN-05-10070.pdf).

You may want to consider using our software (https://maximizemysocialsecurity.com/) to help you determine your best strategy for claiming your Social Security benefits.

Best, Jerry