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Social Security is ending "File and Suspend"

There are those who understood the social security system and made it work much better for them and their spouses than most of us could have.

April 29, 2016, will be the last day manage a social security filing  that pays off quite well.

One would file for benefits at full retirement age (often it is 66 or 66+) then suspend those benefits and take a benefit from your spouses social security. Meanwhile you can wait till you are 70 to get the maximum (about 8% more a year) from your own social security.

Sounds like a great deal and many people weren't aware of it.

The details in one case were that the older of the two in this case the wife, would file for the benefit at 66 and then tell the clerk that she wants to suspend it. That person would not be taking the benefit now but they are using the "file and suspend".

The husband who in this case was the younger of the two married people would then file a restricted application at age 66 and apply for a spousal benefit. That would be 50% of the older person's benefit.

This would allow the husbands benefit to grow until he is 70 and add about 32% more income to his social security payments at age 70. He is still collecting 50% of his wife's social security payment that she is not even taking yet.

 It sounds criminal but it has been the case for people who could figure out this method.

If you are in a position to pull this off before then then do it ASAP.



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