To get this money:
- The couple must be married for at least one year
- The partner must already be getting Social Security
- The spouse asking for money must be 62 years or older
A spouse can be any age if they are taking care of a child who is under 16 or a child with a disability.
Divorced people may still qualify for spousal benefits
Spousal benefits are also available to divorced people in some cases. The marriage must have lasted at least 10 years before the divorce. The divorced person must currently be unmarried to receive these benefits. If the divorced person remarries, the spousal benefits stop automatically.
If the ex-spouse remarries, the divorced person can still claim benefits if they are at least 62. If the divorce happened at least two years ago, benefits can be claimed even if the ex-spouse is still working and has not filed yet, as reported by The Motley Fool. The ex-spouse must be at least 62 years old for this rule to apply.
Claiming spousal benefits early cuts monthly payments
Like regular Social Security, spousal benefits are reduced if claimed before full retirement age. The reduction for spousal benefits is bigger than for standard retirement benefits. Claiming early reduces spousal benefits by 25/36th of 1% per month for up to 36 months. After that, benefits drop by 5/12 of 15% per month.
At age 62, spousal benefits are reduced by 35%, compared to a 30% cut for standard benefits. If a spouse’s PIA is $2,400, the spousal benefit at full retirement age is $1,200, as stated in the report by The Motley Fool. Claiming at 62 would lower that amount to $780, while claiming at 64 would lower it to $900.
Waiting longer does not increase spousal benefits
Regular Social Security benefits grow if claimed after full retirement age. These increases are called delayed retirement credits (DRCs) and add up to 8% per year until age 70. Spousal benefits do not earn delayed retirement credits. Once full retirement age is reached, the spousal benefit amount is locked in. Delaying spousal benefits past full retirement age does not increase the payment.
Spousal benefits change after a spouse dies
When a spouse dies, spousal benefits usually switch to survivor benefits. Survivor benefits can equal 71.5% to 100% of the deceased spouse’s benefit. The surviving spouse must be at least 60, or 50 if disabled, as per the report by The Motley Fool. The couple must have been married for at least nine months before the death. The survivor must not remarry before age 60, or 50 if disabled. Because spousal benefits max out at 50%, survivor benefits usually mean a higher monthly payment.
Bonus note for retirees
The Motley Fool says many retirees miss out on a possible $23,760 Social Security bonus. The article refers to little-known tips called “Social Security secrets” that may raise yearly income. Learning how to maximize benefits can help retirees feel more confident about retirement.
FAQs
Q1. Can a married or divorced person get Social Security from a spouse’s work record?
Yes, eligible married or divorced people can receive spousal benefits based on a spouse or ex-spouse’s work history if Social Security rules are met.
Q2. Do spousal Social Security benefits increase if you delay claiming them?
No, spousal benefits do not grow after full retirement age because they do not earn delayed retirement credits.