3 Crucial Rules to Optimize Spousal Social Security Benefits for a Secure Retirement
Saturday, 6 April 2024, 12:00
Key Rules for Maximizing Spousal Social Security Benefits
Taking advantage of spousal benefits can help maximize your retirement income. Your marital status plays a significant role in determining your benefits, potentially increasing your monthly payment.
1. Eligibility for Spousal Benefits
- Being married to someone who qualifies for benefits makes you eligible for spousal Social Security.
- Income and retirement benefits based on your own work history can affect eligibility.
- Maximum spousal benefit is 50% of your spouse's full retirement age amount.
2. Claiming Early Can Decrease Payments
- Waiting until your full retirement age results in the full spousal benefit.
- Beginning claiming at age 62 can reduce monthly payments unless caring for a child under 16 or disabled.
- Delaying claiming past your full retirement age does not increase spousal benefits.
3. Qualifying for Benefits After Divorce
- Divorce may qualify you for spousal benefits after a marriage of at least 10 years.
- Your ex-spouse's remarriage does not affect your eligibility for divorce benefits.
- Remarrying renders you ineligible for divorce benefits but may allow you to claim spousal benefits based on your new partner's work record.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.