July 24

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Maximizing Social Security Retirement Benefits: How Marriage Affects Them

By Harrison O'Reill

July 24, 2023


If you’re approaching retirement age and you’re married or have been married, you may be wondering how your marital status will affect your Social Security retirement benefits. The truth is marriage can have a significant impact on your benefits, including how much you’ll receive and when you’ll be eligible to start collecting.

However, there are some important rules and restrictions to keep in mind when it comes to spousal benefits, including age requirements, income limits, and more.

In this article, we’ll explore the ins and outs of how marriage affects Social Security retirement benefits, so you can make informed decisions about your retirement income and plan for a comfortable, secure future.

Marriage and Social Security Retirement Benefits

Marriage can have a significant impact on your Social Security Retirement Benefits. If you are married, you may be eligible to receive spousal benefits or survivor benefits based on your spouse’s work history.

Additionally, if you are divorced but were married for at least ten years, you may be eligible for spousal or survivor benefits based on your ex-spouse’s work history.

Spousal Benefits

If you are married and both you and your spouse have worked and paid into Social Security, you may be eligible for spousal benefits. Spousal benefits are calculated as half of your spouse’s full retirement age benefit amount.

However, if you claim spousal benefits before your full retirement age, your benefit amount will be reduced.

Survivor Benefits

If your spouse passes away, you may be eligible for survivor benefits based on your spouse’s work history. Survivor benefits are calculated as 100% of your spouse’s full retirement age benefit amount. However, if you claim survivor benefits before your full retirement age, your benefit amount will be reduced.

Factors That Affect Social Security Retirement Benefits for Married Couples

Several factors can affect your Social Security retirement benefits as a married couple. These factors include your age, earnings history, length of marriage, and remarriage. Understanding how these factors impact your benefits can help you make informed decisions about your retirement.

Age

Your age when you begin receiving Social Security retirement benefits will affect the amount you receive. If you and your spouse begin receiving benefits before reaching full retirement age, your benefits will be reduced. However, if you delay receiving benefits until after full retirement age, your benefits will increase.

Earnings

Your earnings history will also affect your Social Security retirement benefits. If you and your spouse have similar earnings histories, your benefits will likely be similar. However, if one spouse has significantly higher earnings, their benefits will be higher.

Length of Marriage

The length of your marriage can also affect your Social Security retirement benefits. If you were married for at least ten years, you may be eligible to receive benefits based on your ex-spouse’s earnings history. Additionally, if you are currently married, you may be eligible for spousal benefits, which can be up to 50% of your spouse’s benefit amount.

Remarriage

If you have been married more than once, your Social Security retirement benefits may be affected. If you are currently married, you may be eligible for spousal benefits based on your current spouse’s earnings history. However, if you are divorced and remarried, you may not be eligible for benefits based on your ex-spouse’s earnings history.

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Strategies for Maximizing Social Security Retirement Benefits for Married Couples

Delaying retirement, filing and suspending restricted applications, and maximizing spousal and survivor benefits are all strategies that can help married couples maximize their Social Security retirement benefits.

By understanding these strategies and working with a financial advisor, you can make informed decisions that help you achieve your retirement goals.

Delaying Retirement

If you and your spouse can afford to delay retirement, it can significantly increase your Social Security retirement benefits.

By delaying retirement until age 70, you can receive up to 32% more in benefits than if you retire at your full retirement age. This strategy can be especially beneficial for the higher-earning spouse.

File and Suspend

If one spouse has a significantly higher earnings record, they can file for Social Security benefits at full retirement age and then immediately suspend them.

This allows the other spouse to claim spousal benefits while the higher-earning spouse’s benefits continue to grow. This strategy can be especially beneficial if the lower-earning spouse has little or no earnings history.

Restricted Application

If both spouses have their own earnings history, they can each file a restricted application for spousal benefits only at their full retirement age.

This allows them to receive half of their spouse’s benefit while their own benefit continues to grow. This strategy can be especially beneficial if both spouses have a similar earnings history.

Maximizing Spousal and Survivor Benefits

If one spouse passes away, the surviving spouse can receive the higher of their own benefit or their deceased spouse’s benefit. To maximize this benefit, the higher-earning spouse should delay retirement until age 70 to maximize their benefit, and the lower-earning spouse should file for their own benefit at their full retirement age.

This allows the lower-earning spouse to receive a higher survivor benefit if the higher-earning spouse passes away first.

Conclusion

In conclusion, marriage can have a significant impact on your Social Security retirement benefits. Getting married can increase your benefits, but it can also limit your options for claiming benefits. It’s important to consider your marital status and your spouse’s work history when planning for retirement.

Overall, Social Security retirement benefits are a complex topic, and it’s important to do your research and seek professional advice to ensure you’re making the best decisions for your retirement.

Frequently Asked Questions

Here are some common questions about this topic:

How does getting married affect your social security retirement benefits?

Getting married can have an impact on your social security retirement benefits. If you are currently receiving benefits based on your own work record, you may be eligible for a higher benefit amount based on your spouse’s work record.

This is known as a spousal benefit. However, if you remarry after age 60, you can still receive benefits based on your former spouse’s work record.

Can my spouse receive social security retirement benefits based on my work record?

Yes, your spouse may be eligible for a spousal benefit based on your work record. This is true even if your spouse has never worked or paid into the social security system. The amount of the spousal benefit will depend on your work history and the age at which your spouse begins receiving benefits.

What happens to my social security retirement benefits if I get divorced?

If you get divorced, you may still be eligible for benefits based on your former spouse’s work record. This is true even if your former spouse has remarried. To be eligible, you must have been married for at least ten years, be at least 62 years old, and not be remarried.

The amount of the benefit will depend on your former spouse’s work history and the age at which you begin receiving benefits.

Can I receive social security retirement benefits based on my deceased spouse’s work record?

Yes, you may be eligible for survivor benefits based on your deceased spouse’s work record. To be eligible, you must have been married for at least nine months before your spouse’s death or be caring for your deceased spouse’s child who is under age 16 or disabled. The amount of the benefit will depend on your deceased spouse’s work history and the age at which you begin receiving benefits.

What happens if I work while receiving social security retirement benefits?

If you work while receiving social security retirement benefits, your benefits may be reduced if you earn more than a certain amount. However, once you reach full retirement age, your benefits will no longer be reduced, regardless of how much you earn. It’s important to report your earnings to the Social Security Administration to avoid any overpayments or penalties.

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