If you’re 62 years of age or older, Social Security can provide you a source of income when you retire or can no longer work due to a disability. When it comes to benefits, both spouses can receive Social Security, which is based on their individual earnings records and at what age they claim benefits. In other words, one spousal payment does not offset or affect the other.
That said, Social Security has a maximum family benefit, which is the maximum amount you can collect monthly based on your earnings record. Right now, the maximum amount is between 150% and 188% of your monthly benefit payment at full retirement age (FRA), according to AARP.
How does social security work for married people?
Retirees claiming Social Security have options. Married couples may have more options than a single person because each person in the marriage can claim benefits at different dates and may also be eligible for spousal benefits.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
After age 62, for every year you delay taking Social Security up to age 70, you could receive up to 8% more in future monthly payments, according to Fidelity. However, once you turn 70, the increases stop.
Here's what that looks like for an estimated monthly benefit of $1000 at full retirement age.
| Birth Year | Your FRA | Months between age 62 and full retirement age | At age 62: A $1000 retirement benefit would be reduced to | At age 62: Your retirement benefit is reduced by | At age 62: Your $500 spouse's benefit would be reduced to | At Age 62: spouse's benefit is reduced by |
| Row 1 - Cell 0 | Row 1 - Cell 1 | Row 1 - Cell 2 | Row 1 - Cell 3 | Row 1 - Cell 4 | Row 1 - Cell 5 | Row 1 - Cell 6 |
| Row 2 - Cell 0 | Row 2 - Cell 1 | Row 2 - Cell 2 | Row 2 - Cell 3 | Row 2 - Cell 4 | Row 2 - Cell 5 | Row 2 - Cell 6 |
| 1943 - 1954 | 66 | 48 | $750 | 25% | $350 | 30% |
| 1955 | 66 and 2 months | 52 | $741 | 25.83% | $345 | 30.83% |
| 1956 | 66 and 4 months | 52 | $733 | 26.67% | $341 | 31.67% |
| 1957 | 66 and 6 months | 54 | $725 | 27.50% | $337 | 32.50% |
| 1958 | 66 and 8 months | 56 | $716 | 28.33% | $333 | 33.33% |
| 1959 | 66 and 10 months | 58 | $708 | 29.17% | $329 | 34.17% |
| 1960 and later | 67 | 60 | $700 | 30% | $325 | 35% |
Each spouse can claim benefits. However, the amount they receive is based on their own work record. Or, they can choose to claim up to 50% of their spouse's benefit at full retirement age. This strategy, known as the 62/70 split, works this way: the spouse earning the lower wage starts benefits at age 62, while the higher-earning spouse delays receiving benefits until 70.
By doing so, the higher earner receives a spousal benefit while waiting, which increases both their own benefit and the survivor benefits for the surviving spouse. Ultimately, it's a win-win for everyone. However, before choosing this option, find out how much your estimated benefits will be at full retirement age.
How Social Security benefits can be optimized for married couples
- Both you and your spouse claim Social Security benefits at FRA: By waiting to claim Social Security until full retirement age, you are guaranteed 100% of your benefits.
- Both you and your spouse claim Social Security benefits before FRA: This option works if you need the income immediately, say, you experience an unexpected health issue. Or, if you have a shorter life expectancy, you may want to claim your benefits earlier.
- The higher-earning spouse waits to claim Social Security benefits: This works if you want to optimize the highest survivor benefits possible, or if your spouse has never held a job that paid Social Security taxes. Consider claiming the spousal benefit if there are large differences in earnings, which can sometimes work out better than claiming your own benefits.
- Both you and your spouse wait to claim Social Security benefits: The strategy to delay benefits is a good option if you and your spouse want to continue working for a few more years, you expect to live a long life, have similar incomes or you don't need the money now, but want to receive more money over the course of your retirement.
Can you claim both retirement and spousal benefits?
According to the Social Security Administration, you and your spouse must be married for at least one year before qualifying for spousal benefits. If you parent your spouse’s child, the one-year rule does not apply. If you are or were entitled to benefits under Social Security or the Railroad Retirement Act in the month before you got married, you are also entitled to your spouse’s benefits. However, a divorced spouse must have been married for ten years to get the spousal benefits.
What you need to know:
- You must be at least 62 years of age to claim spousal benefits, and you and your spouse have to have been married for at least one year, in most cases.
- You can’t collect spousal benefits unless your spouse already receives Social Security. If your spouse claims their own benefit, you are dually entitled. This means you apply for both retirement and spousal benefits simultaneously, and you’ll get the higher of the two amounts.
- At age 62, you can receive spousal benefits equal to 32.5% of your spouse’s full retirement age benefit amount. The amount you receive increases each month until you reach full retirement age. You can collect 50% of your partner’s benefit at that time.
- Waiting to claim your Social Security benefits enables the benefit amount to grow. Plus, if your spouse draws spousal benefits on your account, it will not affect what you get from Social Security.
When is the best time to collect benefits?
Before claiming benefits, you must pay Social Security taxes for at least ten years. You can start receiving benefits as early as 62, and the amount you receive is based on your earnings each year. If your spouse has a lower earning record or no record at all, they can collect on your earnings record when they turn 62, and vice versa.
There are several reasons to take Social Security early, at age 62. If you decide to retire at this age, the benefit payment may be a necessary source of income each month. Or, you may be concerned you won’t live long enough to collect your full benefits due to a serious health condition. On the other hand, the earlier you start to collect Social Security, the less you’ll receive each month.
Planning ahead for retirement
Although many people don’t start planning for retirement until they reach their 60s, it’s always a good idea to plan ahead when you're young and to start putting money away in a savings account, IRA or 401(k). That’s because most financial planners recommend replacing about 80% of your pre-retirement income to maintain the same lifestyle after you retire.
Log into the Social Security site to apply for benefits and check eligibility.
Related Content
-
House GOP Bill Aims to Abolish the IRS and Rewrite the Tax CodeTax Policy The stability of the IRS faces yet another challenge as the U.S. presidency changes hands.
-
More Taxes Could Slam New Yorkers Over MTA Budget ShortfallState Taxes Lawmakers warn that New Yorkers may need to brace for more taxes.
-
How To Manage Retirement Savings When Living AbroadRetiring abroad can be a dream come true if you have a good grip on your finances. Here's what you need to know to make it a reality.
-
Irrevocable Trusts: So Many Options to Lower Taxes and Protect AssetsIrrevocable trusts offer nearly endless possibilities for high-net-worth individuals to reduce their estate taxes and protect their assets.
-
How to Organize Your Financial Life (and Paperwork)To simplify the future for yourself and your heirs, put a financial contingency plan in place. The peace of mind you'll get is well worth the effort.
-
Financial Confidence? It's Just Good Planning, Boomers SayBaby Boomers may have hit the jackpot money-wise, but many attribute their wealth to financial planning and professional advice rather than good timing.
-
Average Cost of Health Care by AgeExpect to pay more as you age. We've got solutions for how to cover these costs, which can exceed $1,000 per month in your 60s.
-
Will You Be Able to Afford Your Dream Retirement?You might need to save more than you think you do. Here are some expenses that might be larger than you expect, along with ways to ensure you save enough.
-
Three Steps to Simplify Paying Your Taxes in RetirementOnce you retire, how you pay some of your taxes can change. Here's how to get a handle on them so you don't run afoul of the IRS and face penalties.
-
Should You Add an Annuity to Your Retirement Portfolio in 2025?In need of some guaranteed income? An annuity may be the answer if you check off any of these boxes.
