Understanding Spousal Social Security Benefits: Key Points and Considerations

Do You Qualify for Spousal Social Security Benefits? 3 Things to Know Before Applying

Even if you've never worked, you could still qualify for extra money from Social Security. A whopping 68 million Americans will receive a Social Security check in 2024.

For many, benefits are the difference between making ends meet and facing financial insecurity. In fact, a 2023 Gallup poll found that nearly 90% of current retirees say they depend on Social Security to some extent in retirement, with nearly 60% of that group saying it's a major source of income.

1. Your work history could affect your eligibility

• The main requirement to qualify for spousal benefits is being married to someone entitled to retirement or disability benefits.
• The maximum you can collect in spousal benefits is 50% of your spouse's full benefit amount.

2. Continuing to work in retirement could reduce your benefits

• If you work after claiming benefits, your income will be subject to the retirement earnings test, which may reduce your monthly benefits.
• The test has different income caps based on whether you reach your Full Retirement Age (FRA) in 2024.

3. Divorce benefits are also an option for some retirees

• Divorced spouses can qualify for additional payments under certain conditions, such as being married for at least 10 years.
• The maximum payment is 50% of your ex-spouse's benefit amount.

Understanding these key points will help you navigate the complexities of spousal Social Security benefits and make informed decisions about your retirement.