Today, Social Security provides monthly retirement-age benefits to qualified workers and auxiliary benefits to their wives, ex-wives, and widows based on their marital histories and lifetime earnings (Social Security Administration [ SSA ], n.d.).
Even if they have never worked under Social Security, your spouse may be eligible for benefits if they are at least 62 years of age and you are receiving retirement or disability benefits. Your spouse can also qualify for Medicare at age 65.
How much? The retirement benefit would be the greater of your own Social Security benefit or a percentage of your spouse's benefit. For a rough calculation, you could expect to receive about 35% of your spouse's disability benefit if you file at age 62. If you wait until your full retirement age, you'd get about 50%.
The maximum Social Security benefit of a nonworking spouse is up to 50 percent of the working spouse's benefit at FRA. So if, for example, your FRA benefit is $2,000/month, your spouse would be able to collect up to $1,000 at his FRA.
How Do Social Security Spousal Benefits Work? 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. Widows and widowers can receive up to 100%.
The only people who can legally collect benefits without paying into Social Security are family members of workers who have done so. Nonworking spouses, ex-spouses, offspring or parents may be eligible for spousal, survivor or children's benefits based on the qualifying worker's earnings record.
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.
If you have since remarried, you can't collect benefits on your former spouse's record unless your later marriage ended by annulment, divorce, or death. Also, if you're entitled to benefits on your own record, your benefit amount must be less than you would receive based on your ex-spouse's work.
The SSA sets strict limits on the total income a family can have, which include monthly income, savings, investments, and other assets. Stay at home moms and dads can still get Social Security disability, but it's typically hard.
But one role stay-at-home moms are not filling is “retirement planner.” According to a 2015 Transamerica Center for Retirement study, only 44% of stay-at-home moms are saving for retirement, and 51% do not have any sort strategy for retirement – written or unwritten.
Although you need at least 10 years of work (40 credits) to qualify for Social Security retirement benefits, we base the amount of your benefit on your highest 35 years of earnings.
A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months.
What are the marriage requirements to receive Social Security spouse's benefits? Generally, you must be married for one year before you can get spouse's benefits. However, if you are the parent of your spouse's child, the one-year rule does not apply.
For 2022, the special minimum benefit starts at $45.50 for someone with 11 years of coverage and goes to $950.80 for workers with 30 years of coverage. A financial advisor can help you plan your retirement taking into account your Social Security benefits.
The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2022, your maximum benefit would be $3,345. However, if you retire at age 62 in 2022, your maximum benefit would be $2,364. If you retire at age 70 in 2022, your maximum benefit would be $4,194.
DEFINITION: The special minimum benefit is a special minimum primary insurance amount ( PIA ) enacted in 1972 to provide adequate benefits to long-term low earners. The first full special minimum PIA in 1973 was $170 per month. Beginning in 1979, its value has increased with price growth and is $886 per month in 2020.
But if you can supplement your retirement income with other savings or sources of income, then $6,000 a month could be a good starting point for a comfortable retirement.
Social Security Benefits for Divorced Women
Thus, divorced women receive Social Security benefits either as retired workers, divorced spouses, or surviving divorced spouses. They can also receive widow benefits from a prior marriage that ended in widowhood.
If you remarry after age 60, you can still receive survivors benefits based on your former spouse's record. However, if your new spouse is also collecting Social Security benefits and you would receive a higher amount based on the new spouse's work record, you will receive the higher amount.
Can I collect Social Security as a divorced spouse if my ex-spouse remarries? Yes. When it comes to ex-spouse benefits, Social Security doesn't care about the marital status of your former spouse; it only cares about your marital status.
Both spouses in a married couple can get full Social Security benefits, at the same time. Married couples get two separate Social Security checks, and there is no "marriage penalty" for Social Security benefits.
We divide never-beneficiaries who lack the required work credits into three mutually exclusive categories: late-arriving immigrants, infrequent workers, and noncovered workers. The majority (55.2 percent) of never-beneficiaries are late-arriving immigrants, or those who arrive in the United States at age 50 or older.
No 40 Credits, No Retirement
Social Security requires a minimum of 40 credits for retirement benefits, whether you take early retirement at age 62 or wait until your full retirement age which can vary from 65 to 67, depending on the year of your birth. If you don't have the 40 credits, you don't draw any retirement.
Currently, roughly 6 million (PDF) state and local government workers are not covered by Social Security, including many teachers, firefighters, and police officers. Like most state and local workers, noncovered workers usually participate in defined benefit (DB) pension plans offered by their government employer.