You may be eligible to receive spousal benefits from the Social Security Administration based on your spouse’s or ex-spouse’s retirement benefits. Dependent children may also be eligible for benefits. Elder Care Direction can help you to understand what you might expect from Social Security so that you might maximize your benefits amount.
Benefits for your spouse
If you are married and have reached retirement age, you can draw your own retirement benefits. Your spouse will also be able to receive 50 percent of your full primary insurance amount if he or she is 62 or older or is caring for your disabled child or for a minor child who is under age 16.
Your spouse might be able to receive more from his or her own Social Security, depending on his or her earnings record. You will want to check both ways to see which might give your spouse a higher amount.
Benefits for children
Your unmarried and dependent children may be eligible to receive benefits based on your record. To be eligible, children must be either younger than age 18 or than age 19 and still in high school. They can also be eligible if they are over age 18 but became disabled before they reached age 22.
Children normally receive one-half of your PIA up to a maximum family benefit. This maximum is calculated when you reach age 62 using a formula. Your maximum will depend on your benefits amount and the number of your family members who will qualify based on your earnings record. In general, it is normally equal to an amount of 150 to 180 percent of your retirement benefit.
If you have several qualifying family members, their amounts will be reduced to fit the family maximum benefit. Your benefit will not be reduced.
Divorced spouse benefits
If you were married for at least 10 years to your ex-spouse, you are eligible to receive an amount that is one-half of your ex-spouse’s PIA. You are able to begin getting benefits even prior to when your ex-spouse retires as long as you are at least 62 years old. Your benefits will not be counted toward your ex-spouse’s maximum family benefit amount.
If your spouse passes away, you can start receiving his or her retirement benefits when you reach full retirement age. This is also true if you and your spouse were divorced as long as your marriage lasted 10 years or longer. Widows and children of deceased workers are able to receive a one-time death benefit of $255.
Contact Elder Care Direction
Social Security retirement benefits can help you to meet your financial needs as a part of your retirement portfolio. Spousal benefits and survivor’s benefits may also help. To learn more about the Social Security benefits for which you might be eligible, contact Elder Care Direction today by filling out our contact form.