Excerpt from “Social Security: Maximize Your Benefits”

Couple Walking Along Beach

Does Delaying Your Application Past Full Retirement Age (FRA) Increase the Spousal Benefit?

No, it’s based on the worker’s primary insurance amount (PIA).  Let’s say that your spouse’s FRA is 66 and his or her monthly benefit is $2,000. Your spouse decides to work until 70 and claims Delayed Retirement Credits (DRCs) to increase his or her monthly benefit to $2,640. (That’s 8 percent per year for four years). The spousal benefit is still 50 percent of the PIA.  In other words, the most you can receive as a spousal benefit is $1,000. (There are different rules for widow (ers) and survivors.)

About ksindell

Kathleen Sindell, Ph.D. is the author of numerous academic, popular, and professional finance articles, Web sites, proposals, and books. This includes the bestselling reference book, "Investing Online for Dummies, Eds 1-5" (listed for two consecutive years on the Wall Street Journal's Bestselling Business Book List). Her most recent book "Social Security: Maximize your Benefits" has been listed in Amazon's Top 100 Bestselling Retirement Planning Books. It is important to note that "Social Security: Maximize Your Benefits, 2nd Edition" was just released. Sindell has an in-depth understanding of the financial services industry and has held Series 7, 63, and 65 licenses. Dr. Sindell is regularly tapped as a financial services expert on ABC World News, The Nightly Business Report, and at popular online and print outlets. Kathleen Sindell, Ph.D. is a member of the Board of Directors for the Financial Planning Association, National Capital Area (FPA NCA), is on the Editorial Advisory Panel of the Journal of Financial Planning, and is Co-Chair of the Metro Washington Financial Planning Day. Sindell is a Course Chair II, CFP Program Academic Officer, and adjunct full-professor at the University of Maryland, UMUC, School of Undergraduate Studies. Contact Information: ksindell@kathleensindell.com or 703-299-1700
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