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How big actually is the Social Security spousal benefit?

The benefits of a spouse's Social Security retirement benefit are many, so it's best to know all the details

TD Editorial by TD Editorial
26/06/2022 12:50
in Money
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One of the great advantages of the Social Security benefit in the United States relates to spouses. Anyone who is a spouse of someone claiming the retirement benefit can also claim it. This is a great benefit to the individual. It does not matter if the spouse has never worked. Regardless of whether or not he or she has contributed, the spouse can apply for the Social Security benefit when his or her partner does.

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The benefits of being a spouse and being able to claim Social Security benefits are many. There is no apparent disadvantage. So if you are able to claim it may be a good idea for your family finances. Even if you are no longer married to that working person, you may still be eligible to claim the spousal benefit, albeit with certain requirements.

A former spouse can claim Social Security

If you were a spouse, you may be entitled to claim a Social Security benefit. But not just any ex-spouse can do so. The couple must have been married for at least 10 years. Also, you cannot have remarried again. In short, if you have been married for ten years to a working person, you are entitled to a benefit from your ex-spouse under United States Social Security. As long as you have not been married before.

Therefore, you should have no problem claiming the Social Security benefit for yourself as a spouse, whether for one reason or another. If you are married to the worker claiming Social Security, you may also do so. On the other hand, if you were married for at least 10 years to a worker who can claim Social Security, you can also apply for that benefit.

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How much is a spouse’s benefit?

The Social Security Administration states that the spousal benefit is up to 50% of the Full Retirement Age (FRA) benefit. When the worker claims his or her benefit before the FRA, the SSA reduces the spousal benefit as well. For example, if the worker prefers to retire at age 62, the spouse is entitled to a benefit of about 30% of the total.

Let’s look at a clear example. If in the first case the working person decides to apply for the FRA and receives $2,000 in benefit, the spouse will receive $1,000, so the whole couple would have $3,000 per month. On the other hand, if he or she does not wait for the FRA, the amount is reduced. By collecting a $2,000 benefit, the couple would receive about $600, maybe a little more. In conclusion, it is much better to wait for the FRA, both for the working person and for the spouse who will collect Social Security.

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