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.
The COLA was 3.2% in 2024. Nearly 68 million Social Security beneficiaries will see a 2.5% COLA beginning in January 2025. Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2024. (Note: Some people receive both Social Security benefits and SSI payments).
A married spouse without an earnings record (or whose record would result in a lower Social Security payment) can collect on his or her spouse's earnings record when his or her spouse turns 62. Collecting Social Security at 62 has some advantages.
A Social Security spousal rule that was around for decades ended this year for the last eligible retirees — those who turned 70 on Jan. 1, 2024. The rule allowed recipients to switch between their benefits and their spouses' to receive the maximum amount.
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.
Spousal Benefits
A Social Security spousal rule that has been around for decades officially ends this year for everyone except those who were 70 on Jan. 1, 2024. The rule allows recipients to switch between their benefits and their spouse's to receive the maximum amount. But unless you were born before Jan.
For 2024, eligible taxpayers can contribute $23,000 to their 401(k) account and that is up from $22,500 in 2023. The limit on catch-up contributions for 401(k) plans for 2024 is $7,500 — the same as it was in 2023, bringing the total elective deferral contribution limit to $30,500.
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.
Each survivor benefit can be up to 100% of your benefit. The amount may be reduced if the women start benefits before their own full retirement age, but they don't have to share — the amount isn't reduced because you've had more than one spouse.
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.
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.
The Bottom Line. If you were married to them for at least 10 years, you may be able to collect Social Security benefits based on your ex's work record. If you meet the requirements, you can receive benefits equal to as much as 50% of your ex's retirement benefit.
In 2025, all beneficiaries will see a 2.5% increase to their Social Security benefit checks, thanks to an annual cost-of-living adjustment. Of note, the 2024 increase was 3.2%. This year's COLA is the lowest increase beneficiaries have seen since a 1.3% increase in 2021, reflecting a decrease in the pace of inflation.
For 2024, the amount of earnings that will have no effect on eligibility or benefits for SSI beneficiaries who are students under age 22 is $9,230 a year. The amount of earnings that we can exclude each month, until we have excluded the maximum for the year, is $2,290 a month.
Contribution limits are going up for people with workplace retirement plans. In 2025, those ages 50-plus can put up to $31,000 into a 401(k), 403(b) or Thrift Savings Plan (and most 457 plans). That's $500 above the 2024 cap. The limit for workers 49 and younger ticks up from $23,000 to $23,500 in 2025.
Your spouse must be receiving benefits for you to get benefits on their work record. If your spouse does not receive retirement or disability, you'll have to wait to apply on your spouse's record. In addition, to be eligible for spouse's benefits, you must be one of the following: 62 years of age or older.
The current spouse benefit is based on 50 percent of the PIA of the other spouse. Reduce this percent each year by 1 percentage point beginning with newly eligible spouses in 2025, until the percent reaches 33 in 2041.
This is the amount that person qualifies for if they apply for benefits at their full retirement age (FRA), which is between 66 and 67, depending on their birth year. The maximum PIA in 2024 is $3,822 per month, making the maximum spousal benefit $1,911 per month.
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.