Marriage changes a lot, personally and financially. You and your spouse may have to work out a new budget, build a new retirement plan, and get used to a new tax filing status. Even your future Social Security benefit could look different as a result of tying the knot.
Most people think that marrying automatically entitles you to a spousal benefit on your partner’s work record, but the truth is a bit more complicated. The Social Security benefit(s) you’re entitled to can change over time. Here are five key Social Security milestones you and your partner will encounter as you age.
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1. One year of marriage
Technically, you are not eligible to receive spousal Social Security benefits on your partner’s work record until you’ve been married for at least one year. But there are exceptions. If you are the parent of your spouse’s child or were eligible for Social Security or railroad benefits in the month before the month you got married, you become eligible for a spousal benefit as soon as your marriage is legal.
2. 10 years of marriage
After 10 years of marriage, you’re eligible to claim a spousal benefit on your partner’s record, even if you later divorce. You can only do this if you have not remarried. It doesn’t matter if your ex has, and you don’t need their permission to claim Social Security based on their work record.
3. Age 62
You become eligible to claim retirement and spousal benefits at 62. However, this is technically considered claiming early because you’re signing up under your full retirement age (FRA), which is 67 for most people today. If you’re claiming a retirement benefit, your checks will be 30% smaller if you apply immediately at 62. Someone claiming a spousal benefit at 62 will get 32.5% of the benefit their spouse is entitled to at their FRA.
For example, if you qualify for a $2,000 monthly retirement benefit at your FRA of 67, you’d only get $1,400 per month by claiming at 62. If your spouse qualifies for a $2,000 benefit at 67, you’d only get a $650 spousal benefit by applying at 62. In this case, the Social Security Administration would give you your own retirement benefit because it’s larger.
4. Full retirement age (FRA)
You qualify for your maximum spousal Social Security benefit at your FRA. This is worth 50% of what your partner qualifies for at their FRA. Again, you’ll only get this amount if it’s larger than your own retirement benefit, and you cannot claim a spousal benefit until your partner signs up. Note that your retirement benefits can continue to grow until you reach age 70.
5. You or your partner dies
Though no one likes to think about it, one spouse will likely outlive the other. When the first spouse dies, the surviving spouse becomes eligible for a survivor benefit on their partner’s work record, worth up to 100% of what the deceased spouse was receiving or eligible for at the time of their death.
If you have any questions about how these different benefits work or how they affect you and your spouse, reach out to the Social Security Administration. You can do this by phone or by scheduling an appointment at your local Social Security office.
