How Do I Collect Spousal Social Security?

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You could benefit from Spousal Social Security.

Are you married?

Did you stop working for a few years to rear your children?

Perhaps you have worked full time but make significantly less than your spouse.

According to a recent Investopedia article titled “How Does My Spousal Social Security Benefit Work?,” your personal Social Security benefit could be low or non-existent.

Spousal Social Security benefits could bring you more money.
You could receive more from Spousal Social Security benefits than your own.

You could receive more through Spousal Security benefits.

You can claim these as early as age 62, if your spouse has already filed to claim benefits now.

If your spouse is at least age 62, you also will be able to apply for Medicare.

Before you apply for Social Security, run the numbers.

Once you do so, apply for the higher amount.

Waiting until full retirement age will allow you to collect a bigger benefit.

If you collect before “full retirement age,” you will receive a reduced benefit each month.

In addition, other factors may influence the amount of money you receive.

What are they?

Continuing to work will influence how much you receive.

Being eligible for government, foreign, or public service pensions can decrease your Social Security benefit as well.

Are you the caregiver for a minor age 16 or younger?

If yes, you can collect your Spousal Security benefit without reduction based on your age.

How much is the Spousal Social Security benefit?

You could received up to 50 percent of the benefit amount your spouse qualifies to receive.

Changes have been made to Social Security.

These will impact how individuals can collect their Spousal Social Security benefits.

For example, were you born prior to or on January 1, 1954?

You may be able to utilize the “restricted application” claiming strategy.

This allowance you to collect the benefits of your spouse now and then defer collection of your benefit until later.

You and your spouse must both have already filed for Social Security and must both be full retirement age.

The Bipartisan Budget Act of 2015 ended this collection practice for those born in 1954 or later.

Whether you choose to receive your own or your the Spousal Social Security of your spouse, you will increase your benefit by 8 percent for every year you delay until full retirement age.

Reference: Investopedia (Feb. 21, 2020) “How Does My Spousal Social Security Benefit Work?”