Ask an Advisor: I’m 68 and Collect Survivor Benefits from Social Security. Can I Switch to My Own Benefit for More Money?

I’m 68 and currently receive spousal survivor Social Security benefits. Can I switch to my own Social Security benefit? –Sylvia

Sylvia, I’m sorry to hear about your husband’s passing. Thank you for the question, and yes, you can switch to your own benefit. It would make sense to do that if your own benefit is higher, which I’m sure is why you’re thinking about it. However, I would suggest evaluating whether waiting until age 70 might be even better.

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Survivor vs. Spousal Benefits

Before we get into the discussion, let’s clarify some terms. You said you are receiving “spousal survivor” benefits, but “spousal” benefits and “survivor” benefits are two different things. Although it’s clear which benefit you’re receiving, some technical details can be confusing for other readers if we don’t distinguish the two.

Spousal benefits are what you receive based on a spouse’s earnings record while they are still alive.
Survivor benefits are the benefits you receive based on a spouse’s earnings if they have passed away.

Again, this is an important distinction as there are some key differences in their rules. (And if you have additional questions related to Social Security, connect with a financial advisor for free.)

How to Calculate Survivor and Spousal Benefits

The main difference between the two is that spousal benefits are generally 50% of the higher earner’s benefit, while survivor benefits are generally 100% of the higher earner’s benefit. Suppose each spouse in a married couple claims a benefit. One spouse’s benefit is $2,500 per month and the other is $1,000.

While both spouses are alive it would make sense for the lower-earning spouse to receive the spousal benefit rather than their own retirement benefit because it would be larger. Half of $2,500 is $1,250, so $250 more per month.

Now, suppose the higher-earning spouse passes away. The surviving spouse could generally receive the $2,500 per month as a survivor benefit.

Note that if you begin receiving a spousal or survivor benefit, your own benefit stops. You essentially receive the higher of your own benefit, or the spousal or survivor benefit. (And if you need help deciding how and when to claim Social Security, consider speaking with a financial advisor.)

Maximizing Your Benefit

Social Security benefits generally increase if you delay them past your full retirement age (FRA). For most people that is age 67. However, survivor and spousal benefits affect this differently, which is likely the most significant factor in your decision.

If you apply for spousal benefits while your spouse is still alive, you do not continue to earn delayed filing credits because “deemed filing” rules apply. That means Social Security automatically considers you to be applying for both your own retirement benefit and your spousal benefit, and you receive whichever is higher. Your own benefit does not continue to grow.

However, deemed filing does not apply to survivor benefits. You can receive survivor benefits first while your own benefit continues to grow due to delayed filing credits. Then, you can apply for your own benefit when it becomes larger.

Retirement benefits increase by about 0.67% for each month you delay past your full retirement age (8% per year) until age 70. So, if you delay claiming until 70, your benefit will be 24% higher.

For instance, imagine you’re receiving a $2,200 monthly survivor benefit, while your own full retirement age benefit is $2,000. Since you’re 68, delaying your claim has already increased your benefit by 8%, bringing it to $2,160 if you were to file now. If you wait until age 70, your benefit would continue to grow, reaching about $2,480 per month.

(As you can see, Social Security claiming strategies can be complicated, which is why it can help to work with a financial advisor.)

Submit a New Application to Switch

If you decide to make the change, all you need to do is submit a new application to Social Security for your retirement benefit. You can do that online, or you can call or visit a local Social Security office.

When you apply, Social Security will review both benefit amounts and confirm which is higher at that point. You’ll start receiving your new payment in the month after your application is processed. (And if you have additional retirement planning questions, match with a financial advisor for free and see if they can help.)

Bottom Line

Yes, you can switch from survivor benefits to your own Social Security retirement benefit at age 68. Whether you should switch depends on your need for additional income now versus the advantage of waiting to further increase your benefit.

If your own benefit is already higher, switching now can increase your monthly income right away. However, waiting until 70 will maximize your payment for life.

Social Security Planning Tips

A financial advisor can model different claiming scenarios, factoring in longevity, taxes, and spousal strategies to identify the most efficient approach. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with 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.
As much as 85% of your Social Security benefits can be taxed based on your total combined income. Adjusting when and how you draw from retirement accounts, completing Roth conversions or accessing other income streams may help lower the share of your benefits that end up taxable.

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.