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The benefits of marriage are not limited to love and companionship. In some cases, marriage can bring more social security. If you have been married for at least 10 years, these benefits can continue even if you divorce.
But the rules of marriage and social security have become complicated. Here are seven things that married couples must know.
7 social security rules every married couple should know
You won’t automatically get more Social security benefits Just because you are married. Many (if not most) people will get the most benefit by claiming their records.
But if your work experience is limited and you are married to someone who earns more than you, you may be Get more social security By applying for spouse benefits. This is how it works.
1. You can get up to 50% of all benefits of your spouse.
The maximum spouse benefit is 50% of your spouse’s main insurance amount. This is the benefit they will be eligible for after reaching the full retirement age. For those born in 1960 or later, the retirement age is 67.
If you receive benefits before your retirement age, you will receive less than 50%. For example, if you start receiving benefits at the age of 62—the earliest age at which you can receive social security—you will only receive 32.5% of the main amount.
2. You cannot apply for these two benefits at the same time.
Sorry, but the benefits of marriage do not include double dip. Social Security will give you the higher one: your own benefits or the benefits of your spouse, but you cannot provide both at the same time.
If you are eligible for certain benefits based on your income history, technically, Social Security will use your own records first. Then they will use your spouse’s records to provide you with the greatest benefit.
3. There is no extra points for the spouse after the full retirement age.
When you receive Social Security based on your records, you will receive the maximum benefits at the age of 70. That’s because every time you delay Social Security, your lifetime check will increase by 8% due to delayed retirement points.
However, if you are receiving spouse benefits, you cannot get deferred retirement benefits. Once you reach the full retirement age, your benefits will be maximized.
4. You cannot apply for the social security disability of your spouse.
If you paid for Social Security yourself and have qualified medical conditions, you can only apply for Social Security Disability Insurance (SSDI). You cannot record your disability on the records of other people, including the records of your spouse.
5. Divorce? You may still get their benefits.
If you have been married for at least 10 years and you have been divorced for at least two years, you can Apply for your predecessor’s social security. The same rules for spouses apply: your best interest will be 50% of their main amount. If you apply in advance, you will receive a lower amount and you will not receive delayed retirement points for waiting to exceed the full retirement age.
Your ex-spouse needs to be at least 62 years old to apply in their records. Your decision has absolutely no effect on your ex-spouse. Similarly, if your divorced person puts Social Security on your record, your benefits will not decrease.
6. If you have remarried, you cannot apply for the predecessor’s benefits.
Once you remarry, you cannot apply for the social security of your ex. However, once you have been married for one year, you can receive benefits based on your current spouse’s records. If you have more than one marriage that lasts 10 years or more and ends in a divorce, the Social Security Administration will look at everyone’s records—you and each ex-spouse—and give you the most benefit.
7. The survivor’s benefit is up to 100% of the deceased spouse’s benefit.
If your spouse dies before you, you can get up to 100% of social security payments in the following ways Survivor’s welfare If you wait until the full retirement age. You can start receiving survivor benefits as early as 60 (or 50 if you have a disability), but you will receive a reduced amount. These rules also apply to former spouses, provided that the marriage lasts for 10 years. Like spouse benefits, you will get larger benefits: your own benefits or survivor benefits, but not both.
There is also an exception to the remarriage rules for surviving spouses: widowed and former spouses who are eligible for survivor benefits can remarry at the age of 60 (or 50 if disabled) and continue to receive benefits from the deceased spouse.
Robin Hartill is Penny Hoarder’s certified financial planner and senior author. She wrote a column of personal financial advice for Dear Penny.Send your tough money questions to [email protected]
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