Create or open your my Social Security account, scroll to the ‘Plan for Retirement’ section, and:
- Select ‘See what you could receive from a spouse’ if you are not eligible for retirement benefits yourself or select the ‘Include a spouse?’ tab if you are eligible for ...
- Choose a future age or date when you would like to start receiving spouse’s benefits.
- Enter your spouse’s retirement benefit estimate at their full retirement age or PIA.
...
For example:
- If you are receiving a retirement benefit of your own, your spousal benefit will be reduced.
- If you file for spousal benefits prior to your full retirement age, your spousal benefit will be reduced.
How to estimate Social Security benefits from a former spouse?
- If you are of full retirement age or older, you would receive 100%.
- If you are age 60 or older but not yet of full retirement age, you would receive 71.5% to 99%.
- If are 50 to 59 years old and disabled, you would receive 71.5%.
How to calculate spouse SSA benefit?
Today's Social Security column addresses questions about how Social Security spousal benefits are calculated, whether it's necessary to file in January to get a given year's COLA and what effects of benefits rates not paying taxes can have. Larry Kotlikoff ...
How to maximize your spousal Social Security benefits?
You can expect the following when applying for Social Security spousal benefits:
- You can receive up to 50% of your spouse’s Social Security benefit.
- You can apply for benefits if you have been married for at least one year.
- If you have been divorced for at least two years, you can apply if the marriage lasted 10 or more years.
- Starting benefits early may lead to a reduction in payments.
How do I estimate my SS Benefits?
You may want to may want to consider using my company's software — Maximize My Social Security or MaxiFi Planner — to ensure your household receives the highest lifetime benefits. Social Security calculators provided by other companies or non-profits may provide proper suggestions if they were built with extreme care. Best, Larry
Can you collect 1/2 of spouse's Social Security and then your full amount?
Your full spouse's benefit could be up to one-half the amount your spouse is entitled to receive at their full retirement age. If you choose to begin receiving spouse's benefits before you reach full retirement age, your benefit amount will be permanently reduced.
What percentage of husbands Social Security does a spouse get?
You can receive up to 50% of your spouse's Social Security benefit. You can apply for benefits if you have been married for at least one year. If you have been divorced for at least two years, you can apply if the marriage lasted 10 or more years.
What is the best Social Security strategy for married couples?
3 Social Security Strategies for Married Couples Retiring EarlyHave the higher earner claim Social Security early. ... Have the lower earner claim Social Security early. ... Delay Social Security jointly and live on savings or other income sources.
When can a wife collect half of her husband's Social Security?
You can claim spousal benefits as early as age 62, but you won't receive as much as if you wait until your own full retirement age. For example, if your full retirement age is 67 and you choose to claim spousal benefits at 62, you'd receive a benefit that's equal to 32.5% of your spouse's full benefit amount.
How much is spousal benefit reduced?
A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month.
What age can a spouse file for Social Security?
When a worker files for retirement benefits, the worker's spouse may be eligible for a benefit based on the worker's earnings. Another requirement is that the spouse must be at least age 62 or have a qualifying child in her/his care. By a qualifying child, we mean a child who is under age 16 or who receives Social Security disability benefits.
What is the reduction factor for spousal benefits?
For a spouse who is not entitled to benefits on his or her own earnings record, this reduction factor is applied to the base spousal benefit, which is 50 percent of the worker's primary insurance amount. For example, if the worker's primary insurance amount is $1,600 and the worker's spouse chooses to begin receiving benefits 36 months ...
Can a spouse reduce their spousal benefit?
However, if a spouse is caring for a qualifying child, the spousal benefit is not reduced. If a spouse is eligible for a retirement benefit based on his or her own earnings, and if that benefit is higher than the spousal benefit, then we pay the retirement benefit. Otherwise we pay the spousal benefit. Compute the effect of early retirement ...
How old do you have to be to get spousal benefits?
If you file for a spousal benefit before age 66, the percentage you receive depends upon your age. There’s a two-stage process as to how Social Security calculates the reduction and it's based upon how many months ahead of your FRA you are filing:
What is the Social Security income limit for 2012?
If you are receiving income from a job (investment income doesn’t count), your spousal benefit may be reduced. The “income limit” for 2012 is $14,640. Assuming you are not going to reach full retirement age this year, for every $2 above this amount that you’re paid, Social Security will withhold $1 of your spousal benefit.
Do federal workers get Social Security?
1. Many state, municipal and some federal workers do not pay into the Social Security system. In this case, neither the worker nor their spouse is entitled to Social Security benefits. 2.The federal law known as the Defense of Marriage Act only recognizes “marriage” as between a man and a woman.
Do you get Social Security if you claim spousal benefits?
Here are some other things you need to be aware of when claiming spousal benefits: If you are eligible for a Social Security benefit based upon your own work history, you will either receive this amount or the spousal benefit you’re entitled to, whichever is higher. (In other words, you don’t get both amounts.)
What is the percentage of Social Security for spouse?
The percentage of your spouse's Social Security that you receive starts at 32.5% at age 62 and steps up gradually to 50% at your full retirement age, 66 or 67 depending on your year of birth. The amount is based on your spouse's benefit at full retirement age. 15 . The important point is this: Don't bother delaying past your full retirement age.
When can I claim my spousal benefits?
But the amount you receive will depend upon when you begin to claim it. You can claim spousal benefits as early as age 62 , but you won't receive as much as if you wait until your own full retirement age.
What is the maximum amount of spousal benefits at 62?
For example, if your full retirement age is 67 and you choose to claim spousal benefits at 62, you'd receive a benefit that's equal to 32.5% of your spouse's full benefit amount. The amount increases with each year you delay. At your full retirement age (67 in this example) you'd be eligible for the maximum, which is 50% ...
What happens if your spouse retires at 70?
If your spouse delays retiring until 70, the spouse gets more but you don't. Survivors may receive up to 100% of the deceased person's Social Security amount. 10 There's a complicated formula for families in which more than one dependant is eligible for benefits. It caps the maximum. 16 .
How much can a widow receive?
A widow or widower can receive up to 100% of a spouse's benefit amount. That's if the survivor has reached full retirement age at the time of the application. The payment is reduced to somewhere between 71% and 99% of the deceased's entitlement if the widowed person is at least 60 but under full retirement age. 8 .
How old do you have to be to collect Social Security?
If your spouse has filed for Social Security benefits, you can also collect benefits based on the spouse's work record, if: You are at least 62 years old. Regardless of your age, if you care for a child who is entitled to receive benefits on your spouse’s record, and who is under age 16 or disabled. 2 .
How much can I get from my spouse?
The maximum amount you can receive is 50% of your spouse's full benefit. 1 That's straightforward enough, but the precise amount you'll get and when you'll get it depends on several circumstances, including your spouse's age and work history, your own age and work history, and more. That leaves some room for you to maximize ...
How much is spousal benefit reduction?
If you file for a spousal benefit prior to your full retirement age, that spousal benefit will be reduced due to early filing. The reduction is 25/36 of 1% for each month early, up to 36 months. For each month in excess of 36 months, the reduction is 5/12 of 1%.
How do I find out about Social Security?
Want to Learn More about Social Security? Pick Up a Copy of My Book: 1 How retirement benefits, spousal benefits, and widow (er) benefits are calculated, 2 How to decide the best age to claim your benefit, 3 How Social Security benefits are taxed and how that affects tax planning, 4 Click here to see the full list.
How much is Bob's spousal benefit?
Bob’s spousal benefit will initially be calculated as 50% of Jane’s PIA. (Key point being: it’s 50% of Jane’s PIA, rather than 50% of what she’s actually receiving.) If Jane had filed for retirement benefits after her full retirement age (and were therefore receiving an amount larger than her PIA), Bob’s benefit as Jane’s spouse would still be ...
What happens if you receive a government pension from work that wasn't covered by Social Security taxes?
If you are receiving a government pension from work that wasn’t covered by Social Security taxes, your spousal benefit will be reduced by the “ government pension offset .”. If your spouse is disabled or if you have a minor child or adult disabled child, the family maximum rules may result in your spousal benefit being reduced .
What is the primary insurance amount?
A person’s primary insurance amount is the amount of their monthly retirement benefit, if they file for that benefit exactly at their full retirement age. A Social Security spousal benefit is calculated as 50% of the other spouse’s PIA.
Can spousal benefits be reduced?
For example: If you are receiving a retirement benefit of your own, your spousal benefit will be reduced. If you file for spousal benefits prior to your full retirement age, your spousal benefit will be reduced.
How do I qualify for spousal benefits?
To qualify for Social Security spousal benefits: 1 Both you and your spouse must be at least 62 2 Married at least 1 year 3 The other spouse must be receiving their worker benefit
Why is Social Security spousal benefit confusing?
Credit: Getty Royalty Free. Getty. Social Security spousal benefits are probably the most confusing benefit because they are considered a family benefit. But even more confusing is how the benefit is calculated. First, let’s determine if you are eligible.
What is the relevance of spouse's PIA?
The only relevance your spouse has is the amount of their Primary Insurance Amount (PIA). Spousal benefits are calculated using both your Primary Insurance Amounts and your spouse’s Primary Insurance Amount. Spousal benefits are layered on top of any worker benefit you may have.
How much of my spouse's PIA is spousal?
For example, your PIA is $1,250 and your spouse’s PIA is $2,000.
Is spousal benefit layered?
Spousal benefits are layered on top of any worker benefit you may have. If you have your own worker benefit, you are always paid that benefit first, then any amount of spousal benefit is layered on top of that.
Can I claim my spouse's spousal benefits at the same time?
Both spouses cannot receive spousal benefits at the same time. You must apply for spousal benefits; they will not automatically begin. Generally, if you claim spousal benefits prior to your full retirement age, you will not be able to claim your worker benefit in the future.
Can I get 50% of my spouse's benefits?
Most people think that they are entitled to 50% of their spouses’ benefit . That’s true only if you are filing for spousal benefits at your full retirement age. Spousal benefits are determined at the age you, as a spouse, file. The only relevance your spouse has is the amount of their Primary Insurance Amount (PIA).
How much of my spouse's Social Security is my full retirement?
Remember, in that case, it’s between 32.5% and 50% of the higher-earning spouse’s full retirement age benefit, depending on your filing age. However, it can seem a little more complicated if you have Social Security benefits from your work history.
How many people receive Social Security benefits as a spouse?
A recent Social Security report found that 2.3 million individuals received at least part of their benefit as a spouse of an entitled worker. Some of these spouses had benefits of their own, but were eligible to receive higher benefit because the spousal benefit amount was greater than their own benefit. Others never worked outside the home ...
How much is spousal benefit?
Depending on how old you are when you file, the spousal benefit amount will range between 32.5% and 50% of the higher-earning spouse’s full retirement benefit. Check out the chart below to get an idea of how the benefit works and what your payment might be if you can take advantage ...
What is the 1 year requirement for Social Security?
The 1-year requirement is also waived if you were entitled (or potentially entitled!) to Social Security benefits on someone else’s work record in the month before you were married. An example of these benefits would be spousal benefits, survivor benefits or parent’s benefits.
What is Julie's reduction to her own benefit?
This means that Julie’s reduction to her own benefit would be based on her age when she filed for her benefit. However, her reduction to the spousal benefit would be based on her age when Joe filed for his benefit. So, if Julie filed when she was 62, her own benefit would be reduced.
How long do you have to be married to get spousal benefits?
The Two Exceptions to Know Around the 1 Year Marriage Requirement. Normally, you must be married for at least 12 continuous months to meet the spousal benefit duration-of-marriage requirement. However, there are two exceptions to this rule.
How much is Joe's retirement?
Joe’s benefit at his full retirement age is $2,000. Assuming they are both full retirement age when they file, Joe will be entitled to a benefit of $2,000 and Julie will be entitled to the greater of her own benefit or half of Joe’s benefit.
Eligibility for spousal benefits
Regulated into the Social Security payments in 1939, the spousal benefits are one of the most reliable payouts. It helps expand the household income during retirement and also provides assistance to widows and widowers. It includes provisions for disabled retirees and children as well.
Calculation of spousal benefits
Before calculating the spousal benefits, it is important to know a few concepts. The most central is the primary insurance amount (PIA). This is typically the total monthly retirement advantage of a person, provided the claim is made at the full retirement age. This varies as per the birth year.
Divorced spouses
A divorced spouse can assert on the ex-spouse’s Social Security record. This is irrespective of whether the other partner is remarried or is collecting the advantage on their record. However, a few requirements must be met:
Surviving spouses
In the case of a deceased spouse, the surviving partner can also assert for the amount. Even though the survivor’s benefit can be claimed as early as the age of 60 years, there are certain provisions to it:
To sum it up
Overall, spousal benefits are a very secure stream of income, provided all eligibility criteria are met. One can file for these online on ssa.gov, or by calling 1-800-772-1213, or in person at the local Social Security office.
What is the excess spousal benefit?
The excess spousal benefit equals 50% of your PIA minus 100% of her PIA. If she files for her retirement benefit before her FRA, it will be permanently reduced. So her excess spousal benefit, added to her reduced retirement benefit amount will be somewhat less than 50% of your PIA.
What is the maximum FMB for SSDI?
The maximum FMB that can be payable on the record of a worker receiving SSDI is 150% of their PIA. So for example, if a worker's full SSDI rate (PIA) is $1,600, the FMB on their record would be limited to $2,400.
