Social Security spousal benefits are meant to provide financial aid for the spouse of a retired worker. In case you are married to somebody entitled to Social Security retirement benefits, you might be entitled to claim part of those benefits. Here is what you need to know about when a wife can take half of her husband’s Social Security.
Eligibility requirements
You are entitled to claim spousal benefits if the following apply:
- You are at least 62 years old or have a qualifying child under her care.
- Your spouse collects his or her Social Security retirement benefit.
- The amount to which you are entitled based upon your own work record is less than half of your spouse’s full retirement age benefit.
You can receive spousal benefits, regardless of your age, if you care for either a child under 16 or for a disabled child receiving Social Security benefits.
Benefit calculation
The basic calculation of the spousal benefit is as follows:
- If you can delay until your full retirement age of 66-67 (for those born in 1943 or later), you would have received 50% of the spouse’s full retirement age benefit.
- If you claim spousal benefits before your full retirement age, your benefit will be reduced. For example, if you were born in 1960 and turn 67 at your full retirement age, claiming at 62 would bring down your spousal benefit to 32.5 percent of your spouse’s full retirement age benefit.
The adjustment is 25/36 of 1% for every month before your full retirement age, up to 36 months. If the number of months is more than 36, then the adjustment is 5/12 of 1% per month.
Applying for spousal benefits
You can apply for spousal benefits in these manners:
- Online, if you are within 3 months of turning 62 or older. Just head over to ssa.gov
- By calling the Social Security Administration at 800-772-1213 (TTY 800-325-0778)
- By applying in person in your local Social Security office
You will be required to fill in personal information, which entails your Social Security number, date of birth, and marriage certificate, in the application form.
Factors to consider
In determining at which age you are to claim your spousal benefit, consider the following factors;
- Your age: The earlier you file for this claim the more it is reduced.
- Age and benefit amount of your spouse: The older your spouse is, the greater your benefit will be. The greater your spouse’s benefit, the more you’ll get.
- Your own work history and benefit amount: If you have a higher benefit than half of your spouse’s, then you should take your own benefit instead.
It is important to consider the options available and consult with a financial advisor on deciding when is best to claim spousal benefits based on individual cases.
Social Security spousal benefits can be instrumental in financially securing married couples in retirement. If you are at least 62 years old and your spouse receives their Social Security retirement benefit, you can claim up to 50% of their benefit amount. However, claiming before your full retirement age will result in a reduced benefit. That will help one to make an informed decision on when to claim spousal benefits: knowing eligibility and how benefits are calculated.
