Social Security is a federal program that provides retirement and disability benefits to individuals who have earned enough credits through working. However, it’s not just individuals who can be beneficiaries of Social Security. In some cases, multiple people can receive benefits under the same account. Here’s what you need to know if you’re a multiple Social Security beneficiary.
Spouses
If you are married and your spouse is eligible for Social Security benefits, you may be able to receive benefits on their record. This is known as spousal benefits. To qualify, you must be at least 62 years old and your spouse must be receiving Social Security retirement or disability benefits, or be eligible for them. If your spouse has already filed for benefits, you can apply for spousal benefits online, by phone, or in person at your local Social Security office.
The amount of your spousal benefit will depend on your age, your own work history, and the age at which your spouse began receiving benefits. If you begin receiving spousal benefits before your full retirement age, your benefit will be a percentage of your spouse’s full retirement benefit. If you wait until your full retirement age to begin taking spousal benefits, you can receive up to 50% of your spouse’s benefit.
If your spouse passes away, you may still be eligible for Social Security survivor benefits. You can receive these benefits at age 60 (or age 50 if you are disabled) or at any age if you are caring for your deceased spouse’s minor children. Your survivor benefit will be equal to your spouse’s benefit at the time of their death, or the benefit they would have received at their full retirement age.
Children
In some cases, minor children (under the age of 18) may be eligible for Social Security benefits based on a parent’s work history. This can include biological, adopted, or dependent stepchildren. To qualify, the child must be unmarried and living with the parent who is receiving Social Security benefits. If the parent is deceased, the child must have been dependent on the parent for at least one year before their death to be eligible for survivor benefits.
The amount of the child’s benefit will depend on the parent’s work history and the number of children who are eligible for benefits. Typically, the child’s benefit will be up to 50% of the parent’s benefit, subject to a family maximum. The child’s benefit will continue until they reach age 18 (or 19 if they are still in high school), at which point they will no longer be eligible.
Divorced spouses
If you are divorced and your ex-spouse is eligible for Social Security benefits, you may be able to receive benefits on their record. This is known as divorced spouse benefits. To qualify, you must have been married for at least 10 years, be at least 62 years old, and be unmarried.
The amount of your divorced spouse benefit will depend on your own work history and the age at which you begin receiving benefits. If you begin receiving benefits before your full retirement age, your benefit will be reduced. If you wait until your full retirement age to begin taking benefits, you can receive up to 50% of your ex-spouse’s benefit.
It’s worth noting that if you remarry, you will generally lose your eligibility for divorced spouse benefits. However, if your subsequent marriage ends in divorce or annulment, you may be eligible to receive benefits on your ex-spouse’s record again.
Multiple benefits
It is possible to receive more than one type of Social Security benefit at the same time. For example, if you are a divorced spouse and your ex-spouse passes away, you may be eligible for both divorced spouse survivor benefits and regular survivor benefits.
However, there are limits to the total amount of benefits you can receive. The Social Security Administration uses a formula to calculate your family maximum, which is the maximum amount of benefits that can be paid on a single Social Security record. This formula takes into account the number of family members who are eligible for benefits on that record.
In some cases, receiving multiple benefits can reduce the amount of each individual benefit. This is known as the “retirement earnings test.” If you are under your full retirement age and are still working, you may be subject to this test, which can reduce your Social Security benefits depending on your income.
Conclusion
If you are a multiple Social Security beneficiary, it’s important to be aware of the different types of benefits that you may be eligible for and how they interact with each other. By understanding the rules and regulations of the Social Security Administration, you can make the most of your benefits and ensure that you are receiving the maximum amount possible.