Is It Possible for My Wife to Receive Larger Social Security Benefits?| New Updates!

Q. My wife is 72 years old. She took her Social Security at the age of 62, based on her own work history, and received $1,258.10 per month.

I retired at the age of 67, which was the legal retirement age in my country. Pre-discounted, my Social Security benefits total $2,870.10. If she has a criminal record, shouldn’t she be entitled to additional cash as well?

— The husband

A. Unfortunately, this is not the case.

Your wife’s benefits have been permanently reduced as a result of her decision to take her benefits early.

According to Lisa Crosta, a certified financial planner and certified public accountant of BPP Wealth Solutions in Basking Ridge, the spousal benefit can be as much as half of the worker’s “main insurance amount,” depending on the spouse’s age at retirement.

Social Security Benefits

As president of the Financial Planning Association of New Jersey, Crosta explained that if a married couple begins receiving benefits before reaching “normal (or full) retirement age,” that spouse will receive a lower payout, according to Crosta.

As a result, your wife took use of her benefits early, and as a result, her benefits have been permanently reduced, according to Crosta.

According to her, “if she had waited until she reached her full retirement age, she would have been eligible for half of his $2,870 or $1,435.05,” she explained.

“However, this amount is cut by 30% because the wife took Social Security 48 months early — at the age of 62 instead of the normal retirement age of 66.”

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Crosta estimates that her spousal benefit would have been $1,004.50, which is less than her full benefit of $1,258 if she had received it.

“She is ineligible for any more benefits,” the official stated.