Maximizing Lifetime and Survivor Benefits A married couple could potentially increase their lifetime benefits — as well as the benefits of a surviving spouse — by claiming Social Security at different ages. This example illustrates three hypothetical claiming scenarios for a married couple, Jane and Paul (both age 62). It looks at potential monthly and lifetime benefits, assuming that Paul dies at age 80 and Jane dies at age 90. Monthly benefit assumptions, based on claiming age: Jane: $1,260 at age 62 or $1,800 at age 67 (full retirement age) Paul: $1,400 at age 62, $2,000 at age 67 (full retirement age), or $2,480 at age 70 Although the couple’s combined benefits at the time of Paul’s death would be highest under Scenario 1, the third scenario would provide the highest lifetime benefits if Jane were to live to age 90. Jane’s monthly survivor benefit would be $1,400 under Scenario 1, $2,000 under Scenario 2, and $2,480 under Scenario 3 — which translates to annual amounts of $16,800, $24,000, and $29,760, respectively. Assumes a full retirement age of 67. This hypothetical example is based on Social Security Administration rules and is used for illustrative purposes only. Actual situations will vary. Scenario 1 Scenario 2 Scenario 3 Both Jane and Paul claim benefits at age 62 Combined monthly benefits: Years 1+: $2,660 Total benefits: $574,560 Monthly survivor benefit: $1,400 Lifetime benefits: $742,560 Jane claims benefits at age 62, Paul waits until age 67 Combined monthly benefits: Years 1 to 5: $1,260 Years 6+: $3,260 Total benefits: $569,040 Monthly survivor benefit: $2,000 Lifetime benefits: $809,040 Jane claims benefits at age 62, Paul waits until age 70 Combined monthly benefits: Years 1 to 8: $1,260 Years 9+: $3,740 Total benefits: $569,760 Monthly survivor benefit: $2,480 Lifetime benefits: $867,360 Paul dies at age 80 Jane dies at age 90
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