See Social Security explained When can a spouse claim Social Security spousal benefits? A retired worker’s spouse qualifies for Social Security spousal benefits once that spouse turns 62, or if they (the spouse) are caring for a child either under 16, or a child who receives disability bene...
Many divorced people don't realize they can getSocial Securitybenefits derived from their ex-spouse's work history, said William Meyer, founder of Social Security Solutions, a website that helps people determine when and how to claim Social Security. Those who are aware of the benefits often m...
To be eligible for Social Security benefits based on your own earnings, you must be at least 62 years old and have worked and paid Social Security taxes for at least 10 years. Eligibility Based on Your Spouse's Earnings If you meet the 10-year work requirement, you will receive benefits ...
Comprehensive and meticulously documented facts about Social Security. Learn about Social Security's taxes, benefits, financial status, reform options, and more. For example: • Taxable Maximum • Causes of Fiscal Problems • Old-Age Benefits • “Looting the Trust Fund” • Personal Ownersh...
If so, you might be required to pay taxes on some of your Social Security income. If you’re married filing jointly, add the total income from you and your spouse, plus half of both of your Social Security benefits when you calculate your income level (see below). If you and your ...
We also consider whether other changes to Social Security's benefit computations — like caregiver credits, minimum benefits, and more modest changes to spouse/survivor benefits — could improve program adequacy and horizontal equity with less complexity and fewer transition difficulties relative to ...
A cost-of-living adjustment is made to Social Security benefits annually to keep pace withinflation. It was 8.7% for 2023 and it's 3.2% for 2024.17 Workers can get a projection of their benefits at different retirement ages by using acalculatorthat's provided on the Social Security Administra...
The Social Security Board of Trustees forecasts in its 2023 report that reserves in the retirement fund (OASI Trust Fund) will become depleted in 2033, one year earlier than was projected in 2022. Ongoing tax revenue will be enough to pay 77% of scheduled bene...
Benefits for the Spouses of Retirees The spouse of a retiree who is already drawing Social Security is eligible to receive aspousal benefit. The payment equals up to one-half of the retired spouse's monthly payment, also known as theirprimary insurance amount(PIA). In order to receive this ...
You may be eligible to receive retirement benefits based on your spouse's earning history even if you never contributed to Social Security. This is the case even if you're divorced as long as your marriage lasted at least 10 years, or if your spouse is deceased.16 Social Security Eligibilit...