Key Points
Social Security spousal benefits may be available on your spouse’s work record.
You can claim your spousal benefits if your husband or wife has claimed their retirement benefits.
Spousal benefits could be as much as 50% of the primary earner’s standard benefit.
When it comes to Social Security, most people think of retirement benefits. Retirement benefits are available if you’ve earned enough work credits (40 total). The amount of your retirement benefits is based on your average wages during your 35 highest earning years.
Retirement benefits aren’t the only benefits that you could claim, though.
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If you’re married or divorced after at least 10 years of marriage, you could claim spousal benefits as well. These may be higher than your own retirement benefits if you didn’t work much, or you could qualify for them even if you didn’t work at all.
You need to understand how these benefits work. If you’re retiring, it’s also important to understand whether you’re eligible for them.
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Can you claim Social Security spousal benefits when you retire?
If you’re retiring, you may be able to claim Social Security spousal benefits, but there are a few caveats to be aware of.
You can’t claim your spousal benefits if your husband or wife hasn’t claimed their retirement benefits yet. You must wait until they have started their checks, unless you have been divorced for at least two years.
You must be at least 62 years old to be eligible to start spousal benefits. You should also be aware that a claim at 62 is before your full retirement age. A claim before FRA reduces your spousal benefits because early filing penalties apply.
If your own retirement benefits are higher than your spousal benefits, you can’t claim spousal benefits instead. When you file for your Social Security, the SSA views your application as being an application for all benefits you’re entitled to. This is called deemed filing. So, you’ll get your own benefit first, then a spousal excess benefit if your spousal benefits are higher than your retirement benefits. This can be disappointing if you were hoping to file for spousal benefits and allow your own retirement benefits to grow by waiting to claim and earning delayed retirement credits.
If your spouse has claimed their benefits, you’re 62 or older, and you either don’t have your own retirement benefits or your benefits would be lower than spousal benefits, there’s nothing holding you back from starting.
Of course, you may want to wait longer to increase your monthly checks if you can. If you do, though, it’s important to note that you can’t earn delayed retirement credits on spousal benefits. The most you can collect is 50% of the primary earner’s standard benefit. So there’s no reason to wait until age 70 — waiting until full retirement age is enough.
Be sure to coordinate with your spouse
Social Security benefits are an important source of retirement income because there are built-in inflation protections. You get periodic Social Security cost-of-living adjustments, so you don’t lose buying power. You’re also guaranteed to get benefits for life. You need to make the most of this money.
That’s why talking to your spouse about the optimum Social Security claiming strategy is smart during the retirement planning process. Together, you can decide who should claim benefits when, so you can try to optimize the lifetime income you collect.
Of course, even with the maximum Social Security available to you, you’ll need supplemental funds in your retirement plans. Ensure to save and invest wisely to supplement Social Security and enjoy the secure future you deserve.
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