How Divorce Affects Your Social Security Benefits
How divorce affects your Social Security
Your marital status can have a bigger effect on your benefits than you might think. Social Security benefits are a lifeline for millions of older adults, with many people relying on their monthly checks as their main source of income.
Key Points:
- Special benefits for divorced spouses
- Requirements for qualification
- Impact on retirement benefits
Several factors will influence the size of your checks, such as your income history, the length of your career, and the age you begin claiming benefits.
How much can you receive in divorce benefits?
The maximum benefit is 50% of the amount your ex-spouse will receive at their full retirement age (FRA). Your FRA will depend on your birth year, but it's age 67 for anyone born in 1960 or later.
In Conclusion: Getting divorced won't reduce your or your ex-spouse's benefits in any way, but you could be entitled to extra money each month in divorce benefits. If you qualify for this special type of Social Security, it could boost your payments by hundreds of dollars per month.