Generally, delaying the receipt of benefits past “full retirement age” results in increased benefits once they start paying. The file and suspend strategy allows one spouse (Husband, or “H”, for example) to file for benefits upon reaching full retirement age, but suspend his actual receipt of benefits. By filing, this allows the other spouse (Wife, or “W”, for example) to take one-half of H’s benefit, while delaying filing on W’s own record. That way, both spouses can enjoy the increased benefit down the road – because both have delayed receipt of their own benefits – while one spouse still receives Social Security Retirement on the other’s record until that time.
The budget deal will eliminate this strategy to the detriment of potential recipients, but according to some, to the benefit of the Social Security Retirement system overall:
Also, check out this article about where the new law leaves seniors:
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