Spouses usually share pretty much everything -- including their home, friends, goals, and vacations. The list of things shared by spouses can also include Social Security benefits in some cases.
With spousal Social Security benefits, a person can receive retirement benefits based on his or her spouse's work history if it's greater than one's own benefits. Do you qualify for spousal Social Security benefits? Here are five questions to answer.
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1. Is your spouse of at least one year already receiving Social Security benefits?
There are two spousal Social Security benefits eligibility criteria embedded in this question. First, you must have been married for at least one year to qualify for Social Security benefits based on your spouse's work record. Second, your spouse must already be receiving Social Security benefits. If you check off both boxes, you've met the first key hurdle for qualifying for spousal Social Security benefits.
2. Are you at least 62 years old?
You must be at least 62 years old to file for Social Security retirement benefits based on your own work record. It's the same story if you want to claim benefits based on your spouse's record. However, if you answered "yes" to question No. 1 above and are at least 62 years old, you don't have to answer any other questions; you're eligible for spousal Social Security benefits.
3. Do you provide care for a child under age 16 who is entitled to family benefits based on your spouse's record?
What if you answered "yes" to question No. 1 but aren't 62 years old yet? You can still qualify for spousal Social Security benefits if you provide care for a child under age 16 who is entitled to family benefits based on your spouse's record. To be entitled to family benefits, a child must be under age 18 and have a parent who is retired and receiving Social Security benefits.
4. Do you provide care for a disabled child of any age who is entitled to family benefits based on your spouse's record?
You can also qualify for spousal Social Security benefits if you provide care for a disabled child of any age who is entitled to family benefits based on your spouse's record. Contact your local Social Security Administration office to find out if the child's disability qualifies for benefits.
5. Are you divorced after being married for at least 10 years?
The previous four questions were contingent upon your being married. However, you could also qualify for spousal Social Security benefits if you're divorced. The key, though, is that you must have been married for at least 10 years and haven't remarried. Note that questions No. 1 and No. 2 above still apply: Your ex-spouse must be retired and receiving Social Security benefits, and you must be at least 62 years old.
A few other things to know
Answering the above five questions can help you determine if you qualify for spousal Social Security benefits relatively easily. There are also a few other things you should know, though.
First, the maximum spousal Social Security benefit you can receive is 50% of your spouse's retirement benefit at his or her full retirement age (FRA). This is true even if your spouse delays retirement past his or her FRA.
Second, if you're eligible for retirement benefits based on your work record and your spouse's record, when you apply for one benefit, you automatically apply for both. You'll receive the greater of the benefits based on your record or the spousal benefits based on your spouse's record.
Third, to receive the maximum spousal Social Security benefits, you'll need to wait to file until you reach your FRA. If you claim spousal benefits before reaching your FRA, your benefits will be subject to an early retirement penalty. The Social Security Administration reduces spousal benefits by 25/36 of 1% for each month during the 36 months before reaching FRA. If you retire more than 36 months before your FRA, your benefits will be reduced by 5/12 of 1% per month.
