A reader asks: "Can I apply for my own Social Security at age 62 and then switch to my ex- husband's as a divorced spouse at 66? We were married 24 years. I am still working but earn less than the $14,160 annual earnings limit for Social Security. I need the extra income I could receive at 62 unless it will prevent me from collecting benefits on my ex-husband's record or reduce my divorced spouse's benefit."
The answer: If you apply for your own retirement at age 62, your benefit will be reduced by 25% and that reduction will be permanent even if you are eligible for an additional amount on your ex-husband's record then or later. You will only be eligible for divorced spouse's benefits if they are higher than what you can receive on your own and even then they will be reduced by 30% below the full spouse's benefit.
Could you wait until your full retirement age (FRA) of 66 to apply for benefits? If so, you could apply for an unreduced benefit as a divorced spouse. This will be one-half of your ex-husband's unreduced benefit. You could then postpone applying for your own retirement until you are age 70 and get a benefit that is 76% higher than your age 62 retirement benefit. This will only be to your advantage if your age 70 rate is higher than your benefit as a divorced spouse and you must meet certain other requirements to make this strategy work, but it is well worth consideration!
Want to know more? Request a Personalized Social Security Benefit Analysis to find out about strategies to help you maximize your Social Security retirement!
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This is interesting. If both parties are remarried can the ex-spouse also apply for her ex-husband's social security? I was married 13 years to him and now we are both remarried. He is 3 years older than me and definitely has made more money. Could I apply at 62 for his social security?
ReplyDeleteDear creativelife: No, to claim divorced spouse's benefits, you must be unmarried. Since you are married, you may qualify for benefits on your current husband's record at 62 IF he is at least 62, applies for benefits himself, and you are not eligible for higher benefits on your own record. If you want to apply before your FRA, you cannot delay filing for your own retirement to take advantage of the higher rate at age 70.
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