Key Takeaways
The maximum spousal benefit is 50% of the other spouse's full benefit. You may be eligible if you're married, divorced, or widowed. You can collect spousal benefits as early as age 62, but in most cases, the benefits are permanently reduced if you start collecting before your full retirement age.
Spouses and ex-spouses
Payments start at 71.5% of your spouse's benefit and increase the longer you wait to apply. For example, you might get: Over 75% at age 61.
The spousal benefit can be as much as half of the worker's "primary insurance amount," depending on the spouse's age at retirement. If the spouse begins receiving benefits before "normal (or full) retirement age," the spouse will receive a reduced benefit.
The first exception, which can be deemed as the Social Security spousal benefits loophole, works where an individual who remarries at 60 or later may still be entitled to Social Security survivors' benefits if the second marriage ends before the death of the first spouse.
Either spouse can maximize their regular Social Security benefit amount by waiting past their full-retirement age to apply, up to age 70. Benefits generally increase 8% each year filing is delayed.
If your spouse is not receiving any retirement benefits yet, then you could technically take your regular Social Security benefit as early as age 62. When your spouse files for their benefit later you could switch to spousal benefits.
Spousal Benefits for Retired Workers
A spouse who has never worked in paid jobs or has not worked to earn sufficient credits to be eligible for his/her own retired worker benefits can receive a spousal benefit that is 50 percent of the eligible worker's full benefit.
Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.
If your spouse dies, do you get both Social Security benefits? You cannot claim your deceased spouse's benefits in addition to your own retirement benefits. Social Security only will pay one—survivor or retirement. If you qualify for both survivor and retirement benefits, you will receive whichever amount is higher.
If your spouse built up entitlement to the State Second Pension between 2002 and 2016, you are entitled to inherit 50% of this amount; PLUS. If your spouse built up entitlement to Graduated Retirement Benefit between 1961 and 1975, you are entitled to inherit 50% of this amount.
You can start collecting benefits if your ex-spouse is 62 or older and you have been divorced for two or more years.
Yes, you can. Notify the Social Security Administration that you were married more than once and may qualify for benefits on more than one spouse's earnings record.
You would start with your retirement benefit. When your spouse applies, the SSA tops off your current amount with an excess spousal benefit. The excess spousal benefit = (max spousal) - (your retirement benefit at FRA). After your spouse applies, the new total amount = (your current benefit) + (excess spousal benefit).
Exactly how much in earnings do you need to get a $3,000 benefit? Well, you just need to have averaged about 70% of the taxable maximum. In our example case, that means that your earnings in 1983 were about $22,000 and increased every year to where they ended at about $100,000 at age 62.
The Bottom Line. A number of situations could put your pension at risk, including underfunding, mismanagement, bankruptcy, and legal exemptions. Laws exist to protect you in such circumstances, but some laws provide better protection than others.
To qualify to get $144 added back to your Social Security check, you can enroll in a Medicare Advantage plan that offers a Part B premium reduction or giveback benefit.
Key Takeaways
The maximum Social Security spousal benefit is equal to 50% of a worker's Social Security payment at full retirement age. Early retirement reduces benefits for workers and their spouses and ex-spouses. Understanding your eligibility can help you maximize this benefit.
If you've worked and paid taxes into the Social Security system for at least 10 years and have earned a minimum of 40 work credits, you can collect your own benefits as early as age 62.
Can you still receive Social Security as a stay-at-home mom or dad? The good news is you can. If you are a married person with little to no earnings history, you can receive a benefit up to half of your spouse's Social Security.
Surviving spouse, at full retirement age or older, generally gets 100% of the worker's basic benefit amount. Surviving spouse, age 60 or older, but under full retirement age, gets between 71% and 99% of the worker's basic benefit amount.
However, your maximum spouse's benefit remains 50% of their full retirement age benefit, not their higher amount including delayed retirement credits. (Your benefit as a surviving spouse would be based on the higher amount.)
Yes, you can collect Social Security's on a spouse's earnings record.