I’m 62 and currently working but my spouse passed away when I was 60. He waited until age 70 to take his Social Security. Can I collect his Social Security now in addition to my paycheck? If I get more money under my account at FRA, can I switch?

– Ellen

I’m sorry to hear about your husband’s passing, Ellen. To answer your question: Yes, you can start collecting survivors benefit now and then switch to your own retirement benefit later. Here’s a look at how this process can go. (But if you’d like additional guidance regarding Social Security and retirement planning, consider speaking with a financial advisor.)

Collecting Survivor Benefits

When one spouse dies, the general rule is that the surviving spouse is entitled to the benefit that their spouse was collecting (or would have collected). Eligibility for Social Security survivors benefits starts at age 60, provided you were married for at least nine months. There are some situations involving disability or minor children that allow a surviving spouse to claim benefits earlier, but those don’t seem to apply to you.

However, understand that if you start collecting the survivors benefit before reaching your own full retirement age (FRA), you won’t receive your spouse’s full benefit. Instead, your survivors benefit will be subject to a reduction formula based on how long you have until reaching FRA.

Survivors benefits are reduced by a maximum of 28.5% for filing as early as age 60. The closer you get to your own FRA, the closer your survivors benefit will be to your husband’s full benefit.

Since you’re currently 62, we’ll assume you were born in 1962, which means your FRA is 67. To calculate how much your survivors benefits would be reduced if you collected them at age 62, you’ll have to do some quick math.

First, divide the maximum reduction factor (28.5%) by the total number of months (84) there are between age 60 and your FRA. This gives us 0.339%.

Next, take the number of months you have left before reaching your FRA (let’s say 60 months in your case) and multiply it by 0.339%. The resulting figure – 20.4% – is what you’ll use to calculate your reduced survivor benefit at age 62. (Remember, if you need help deciding when to file for Social Security, talk it over with a financial advisor.)

For example, if your husband’s full retirement benefit was $2,000, your survivors benefit would be worth approximately $1,520 ($2000*20.4% = $480 reduction).

Here’s about how much of your husband’s benefit you’d receive via survivors benefit if you wait longer to file:

Age 63: 83.7%
Age 64: 87.8%
Age 65: 91.9%
Age 66: 95.9%
Age 67: 100%.

Survivors Benefit Earnings Limit

Also, understand that if you collect a survivors benefit before your FRA and continue to work, an earnings limit applies. Before you reach FRA, the earnings limit in 2024 is $22,320. You can earn up to that amount with no reduction in current benefits. For every $2 you earn above that limit, the Social Security Administration will withhold one dollar in benefits. However, you don’t “lose” those dollars. Once you reach FRA, the SSA recalculates your monthly payment to add back any benefits withheld due to this earnings limit. This is in an effort to help people manage their newly fixed retirement income. (And if you need help finding a financial advisor to guide you through Social Security planning, try SmartAsset’s free tool.)

Switching to Your Own Benefit Later

Yes, you can claim your survivors benefit now and then switch to your own retirement benefit later if that benefit is higher. This could very well be a good strategy and one you may want to consider. However, make sure to make the comparison based on any reduction, your life expectancy and overall retirement income plan.

Survivors vs. Spousal Benefits

Lastly, I think it’s worthwhile to point out the difference between survivor and spousal benefits.

Survivors benefits are what they sound like – benefits paid to the surviving spouse based on a deceased spouse’s record. Spousal benefits are paid to one spouse based on another spouse’s record when both spouses are still alive. They are two different types of benefits with two different sets of rules.

Also understand that there is a unique situation that applies to survivors. Filing for your survivor’s benefit early will not reduce your own retirement benefit when you file for it. However, filing for a spousal benefit while your spouse is still alive would result in a reduction of the benefit you’d get on your own record.

Bottom Line

You can claim a survivors benefit now and allow your own retirement benefit, which is based on your work record, to continue to grow. You can then switch to your retirement benefit later. Fortunately, the age at which you begin receiving a survivors benefit will not impact your own benefit.

Social Security Planning Tips

Married couples can optimize their Social Security income by coordinating their benefits. For example, the higher-earning spouse might delay claiming their benefit until age 70 to maximize the payout, while the lower-earning spouse could claim earlier. This strategy ensures that the surviving spouse receives the highest possible benefit after one spouse passes away.
A financial advisor can help you plan for Social Security. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Keep an emergency fund on hand in case you run into unexpected expenses. An emergency fund should be liquid — in an account that isn’t at risk of significant fluctuation like the stock market. The tradeoff is that the value of liquid cash can be eroded by inflation. But a high-interest account allows you to earn compound interest. Compare savings accounts from these banks.
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Brandon Renfro, CFP®, is a SmartAsset financial planning columnist and answers reader questions on personal finance and tax topics. Got a question you’d like answered? Email AskAnAdvisor@smartasset.com and your question may be answered in a future column.

Please note that Brandon is not an employee of SmartAsset and is not a participant in SmartAsset AMP. He has been compensated for this article. Some reader-submitted questions are edited for clarity or brevity.

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