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When you apply for Social Security, you automatically apply for the greater of your benefit or half your spouse’s benefit. The average monthly payout for all retired workers was $1,918 in June ...
A Social Security spousal rule that was around for decades ended this year for the last eligible retirees -- those who turned 70 on Jan. 1, 2024. ... your maximum benefit would remain at 50% of ...
Here are some key rules to follow. 1. If you're married, you can't file until your spouse claims Social Security. If you're someone who's divorced, you don't need to wait for your ex to claim ...
The spouse or divorced spouse of a retirement beneficiary is eligible for a Social Security spouse benefit if the spouse or divorced spouse is 62 or older. The benefit amount is equal to 50 percent of the retirement beneficiary's Primary Insurance Amount (PIA) if the spouse claims the benefit at the full retirement age or later.
This provision allows the lower-earning spouse to receive up to 50% of the higher-earning spouse’s benefit at full retirement age, but not until the spouse has become eligible for benefits. To ...
The Primary Insurance Amount (PIA[ 1 ]) is a component of Social Security provision in the United States. Eligibility for receiving Social Security benefits, for all persons born after 1929, requires accumulating a minimum of 40 Social Security credits. Typically this is accomplished by earning income from work on which Federal Insurance ...
Image source: Getty Images. Qualification 2: You're at least 62 years old. Just like Social Security retirement benefits, you generally must be at least 62 to claim a spousal benefit.The same full ...
Rather than receiving 50% of your spouse’s full retirement age benefit of $2,000, or $1,000 per month, you would only receive $700, or 50% of your spouse’s reduced $1,400 payout.