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    • When I claim my ,950 in Social Security, will my wife automatically receive a spousal benefit?
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    When I claim my $2,950 in Social Security, will my wife automatically receive a spousal benefit?

    Umito Posted on

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    The rules regarding spousal Social Security benefits have several nuances, but some policies are very clear. The first is that a spouse must specifically request to begin receiving spousal benefits. In other words, it’s not automatic. Another certainty is that a spouse will only receive the spousal benefit if the amount is greater than what they would receive based on their own work history. In your case, your spouse would only be entitled to a spousal benefit if he or she requests it and his or her own benefit amounts to less than 50% of the benefit to which you would be entitled at the age of retirement. full retirement: So, if your wife’s benefit is $1,475 or less, in this case. Here are the rules to know.

    A financial advisor can help you develop a plan to get the most out of your Social Security retirement benefits.

    Social security offers retirement assistance to the spouses of beneficiaries in the form of spousal benefits. A person who is married or was previously married to a Social Security beneficiary can receive up to 50% of the spousal benefit. The amount of spousal benefits is generally based on the amount you would receive if he or she claimed his or her benefits from full retirement agewhich for most people is 67.

    Your wife may be eligible for spousal benefits if she is at least 62 years old and you, as the couple’s primary earner, have already applied for Social Security benefits. There is an exception for spouses who have been divorced for at least two years: they do not need to wait for their former partner to apply for benefits first. Another exception is for people caring for a minor or disabled child. These individuals can apply for spousal benefits without reaching age 62.

    The amount of the spousal benefit is limited to 50% of your benefit if you request it at full retirement age. If your wife applies for spousal benefits before reaching full retirement age, her benefits will be reduced by a percentage based on age. For example, at the typical age of 62, the maximum benefit is 32.5%, instead of 50% of the primary Social Security beneficiary’s benefit.

    For a primary earner receiving a full retirement benefit of $2,950, the maximum spousal benefit would be $2,950 times 50%, or $1,475. This spousal benefit cap does not change based on when the primary income earner claims their benefits. If the primary earner waited to claim their benefit until it was higher at age 70, for example, the maximum spousal benefit would still be half of their full retirement age benefit of $2,950.

    Umito
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