I am presently 68 years old and my wife is also 68, she being two months younger. Her SS is far lower than mine due to her working only 12 years.
She started collecting her SS once she turned 66 years and 4 months (100% FRA). I plan to start SS when I turn 70 and my wife will change to collect 1/2 spousal SS. Herein lies the question. Her initial calculated spousal SS is based on my FRA value at 66 years and 4 months. As for everyone, my projected SS increases from 66 years and 4 months until I reach 70 through the annual 8% plus annual inflation adjustment. Does her initial spousal SS value also increase during this time or will she start (when I turn 70) with the value from back when I was 66 years and 4 months thus not receiving the same annual 8% plus annual inflation adjustment as I do?
She started collecting her SS once she turned 66 years and 4 months (100% FRA). I plan to start SS when I turn 70 and my wife will change to collect 1/2 spousal SS. Herein lies the question. Her initial calculated spousal SS is based on my FRA value at 66 years and 4 months. As for everyone, my projected SS increases from 66 years and 4 months until I reach 70 through the annual 8% plus annual inflation adjustment. Does her initial spousal SS value also increase during this time or will she start (when I turn 70) with the value from back when I was 66 years and 4 months thus not receiving the same annual 8% plus annual inflation adjustment as I do?
Statistics: Posted by MTD — Thu Jun 13, 2024 4:43 pm — Replies 10 — Views 662