That's if the survivor has reached full retirement age at the time of the application. Disabled people can apply as early as age The agency has a streamlined application process to avoid delays in the first payment. You may be eligible for benefits even if your spouse died long before reaching retirement age.
Every employee racks up annual Social Security "credits" for working. If your spouse earned credits for at least 10 years, a spousal benefit has been earned.
It's important to note that it pays to hold off until you reach your "full" retirement age to maximize the amount you will receive. Also, if you are receiving spousal benefits and your spouse dies, you need to notify Social Security. And do it promptly. It's not usually retroactive. You may hear or read about other ways to increase the amount of your spousal benefit. Unfortunately, under new Social Security rules , two popular strategies have been abolished. Prior to , workers could file for benefits making their partners eligible to claim spousal benefits , then suspend their own benefits in order to maximize their credits for deferred filing.
This so-called file and suspend strategy meant that a lower-income partner could take advantage of spousal benefits while the primary earner accrued delayed retirement credits, thereby increasing their benefit amount. However, this "have your cake and eat it, too" loophole was closed with the Bipartisan Budget Act of , which took effect in April While it is still possible to file for benefits and then suspend payments temporarily, any other benefits that would normally be available on your account such as spousal benefits are no longer payable during such suspensions.
The law also stopped people born after Jan. Previously, it was possible for those eligible for both types of benefits to claim spousal benefits first, while delaying a claim on their own account, a process sometimes called a restricted application. This allowed taxpayers to benefit from the earlier spousal payment while maximizing their own benefits through delayed retirement credits. Under current law, spouses born after Jan.
The payments they receive are based on whichever benefit amount is highest. Every married couple has to figure out the best way to maximize their benefits depending on their own circumstances. The three strategies below will help you make the most of your Social Security spousal benefits, depending on your circumstances. If one partner has little or no earnings history, the best strategy is for the wage earner to postpone applying for Social Security retirement benefits until age 70 to get the highest amount possible.
Keep in mind that this won't affect the spousal benefit amount. Spousal benefits differ from personal benefits when it comes to delaying payments. If you delay claiming for personal retirement benefits past full retirement age, the benefit increases over time, as explained above.
However, that will have no impact on your spouse's benefits, since they max out at full retirement age 66 to In other words, there is no benefit for your spouse to delaying the spousal benefit claim past your full retirement age. On the other hand, if both partners work, and their earnings are more or less equal, their individual Social Security benefits will each be greater than the spousal benefit, so the best strategy for both is to postpone applying for benefits until age If you have been divorced for at least two years, you can apply for spousal benefits if your marriage lasted 10 or more years.
If, on the other hand, you are still married and considering a divorce, and are near retirement age, try to apply for spousal benefits before your divorce is final. If you have been married and divorced multiple times, you can choose to receive whichever spousal benefit is highest. Widows and widowers may receive full benefits at their full retirement age or reduced benefits as early as age 60, as explained in sections above.
Remarrying after age 60 will not affect your eligibility for survivors benefits. However, it may be more convenient for you to forego your widow or widower spousal benefits depending on your circumstances. If you are collecting a survivors benefit, but also qualify for a benefit on your own, you may wish to collect a survivors benefit in the early years of retirement and leave your own Social Security benefits to accrue delayed retirement credits.
Then, you can switch to your own retirement benefit as late as age You're eligible for spousal benefits if you're married, divorced, or widowed and your spouse is or was eligible for Social Security. Spouses and ex-spouses generally are eligible for up to half of the spouse's entitlement. You can claim benefits based on your own work history or on that of your spouse. You'll automatically get the larger amount. It's one or the other. You'll also get a custom financial plan, ongoing portfolio management, investment coaching, and real-time goal tracking—all at a low cost.
The age at which you're eligible for your full monthly benefits, also known as the primary insurance amount PIA. Also known as the full monthly benefit amount, the Social Security benefits you'll receive if you start collecting at your full retirement age FRA. The benefits are based on your historical earnings. David and Linda are married. They both have an FRA of Benefits paid to the spouse of an eligible worker.
You generally must be at least age 62 to claim spousal benefits. Benefits paid to the surviving spouse or potentially other family members of a deceased eligible worker. Deborah started to receive Social Security benefits at age Nearly a year later, she's working again and she wishes she'd waited until her full retirement age FRA so that she could have received higher benefits. Deborah can pay back all the payments she received, without interest, and file paperwork with the Social Security Administration to stop her benefits and withdraw her application.
By doing that, she "resets" her Social Security benefits so that when she starts to collect again, she'll receive a higher benefit amount based on her age. Deborah needs to consider the source of the funds she's required to return to Social Security. Using taxable assets or taking a distribution from a retirement account may be the most tax-efficient means of raising funds for the payback. Now, if Cheryl claims early the "start" , she can voluntarily suspend her benefits at age 66 the "stop".
Sharon and Ken are deciding when to start collecting their Social Security retirement benefits. Sharon was born in and Ken was born in , so their full retirement age FRA is Over the long run, they'd earn more by delaying Ken's benefits, since he's the higher earner. When Ken applies, Sharon switches to spousal benefits. And because they delayed Ken's benefits, the surviving spouse is also in line to collect more. When a worker is eligible for both his or her own benefits and spousal benefits at full retirement age FRA , the worker can file a restricted application for spousal benefits only, meaning the worker's own benefits will accrue delayed retirement credits.
The Bipartisan Budget Act of limits use of restricted application to claimants who turned 62 by the end of All investing is subject to risk, including the possible loss of the money you invest. Advice services are provided by Vanguard Advisers, Inc. The services provided to clients who elect to receive ongoing advice will vary based upon the amount of assets in a portfolio.
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Share with facebook. Share with twitter. Share with linkedin. Skip to header Skip to main content Skip to footer. Home retirement social security. Your benefits could be reduced depending on the amount of income you earn. If you were born before Jan. This option, called filing a restricted application, is not available if you were born after the date. If you receive a pension from an employer that did not withhold Social Security taxes like a government , your benefits may be reduced according to the Government Pension Offset GPO.
Your Guide to Roth Conversions. This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. About the Author.
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