spousal benefits for husband who took delayed retirement

[bp070202]

I took delayed retirement at age 70 1/2.  My wife, 10 years younger, will recieve 50% of my FRB calculated at my FRA if she retires at 66 1/2, assuming her own benefit is less than 50% of mine.  My question is, since my monthly benefit at 70 1/2 is more than it would have been at my FRA, what is my FRA amount for calculating her benefit: what I get now after delayed retirement or what it would have been if I had not delayed (much less)?  

[GailL1]

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@bp070202 wrote:

I took delayed retirement at age 70 1/2.  My wife, 10 years younger, will recieve 50% of my FRB calculated at my FRA if she retires at 66 1/2, assuming her own benefit is less than 50% of mine.  My question is, since my monthly benefit at 70 1/2 is more than it would have been at my FRA, what is my FRA amount for calculating her benefit: what I get now after delayed retirement or what it would have been if I had not delayed (much less)?  

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Her spousal benefit like Fred said is based on your benefit at your FRA and is maximized at 50% of your FRA benefit figure as long as she is at her FRA.

As far as trying to figure out what your benefit would have been if you had taken it at FRA without the delayed retirement credit - you maybe able to use this SSA Delayed Retirement formula and do it in reverse but even then, there could be COLA included in your current benefit that would also have to be adjusted -  Easiest way is just to ask the SSA what her spousal benefit would be and then try to check it as clse as possible using the formula.

You might have this info for figuring your FRA benefit:

SSA publication: (2019) Your Retirement Benefit - How it is Figured

[fffred]

Just to clarify, did you really wait to claim until you were 70 1/2?

Currently, there are no delayed retirement credits beyond age 70, so there is no point in waiting to file beyond this age (other than potentially losing out on back-benefits).

Perhaps you're thinking of the age when you have to start drawing required minimum distributions (RMD) from IRA's, which is 70 1/2?

Not that this affects my original reply.

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@bp070202 wrote:

I took delayed retirement at age 70 1/2.  My wife, 10 years younger, will recieve 50% of my FRB calculated at my FRA if she retires at 66 1/2, assuming her own benefit is less than 50% of mine.  My question is, since my monthly benefit at 70 1/2 is more than it would have been at my FRA, what is my FRA amount for calculating her benefit: what I get now after delayed retirement or what it would have been if I had not delayed (much less)?  

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[fffred]

"Spousal" benefits do not include any delayed retirement credits (DRC) that you may have earned by delaying claiming benefits. The spousal benefit is 50% of your primary insurance amount (PIA) at your full retirement age; plus any cost of living adjustments provided by the system since then.

Now, should you pre-decease your wife, her "survivor" benefit will include your delayed retirement credits.

This page at the SS site gives a quick overview

https://www.ssa.gov/planners/retire/applying6.html

States "Your benefits as a spouse do not include any delayed retirement creditsyour spouse may receive"

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@bp070202 wrote:

I took delayed retirement at age 70 1/2.  My wife, 10 years younger, will recieve 50% of my FRB calculated at my FRA if she retires at 66 1/2, assuming her own benefit is less than 50% of mine.  My question is, since my monthly benefit at 70 1/2 is more than it would have been at my FRA, what is my FRA amount for calculating her benefit: what I get now after delayed retirement or what it would have been if I had not delayed (much less)?  

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