For FERS participants eligible for Social Security, it’s important to understand how this lifetime federal benefit works for you and your spouse in retirement.
Understanding Social Security Spousal Benefits
Let’s start with the basics. A Social Security spousal benefit is available for your spouse (or ex-spouse) when you retire. The maximum they can receive is 50% of your primary benefit based on your work record at your full retirement age (FRA).
For those born in 1957, the FRA is age 66 and 6 months. Thereafter, the FRA rises two months for each successive birth year until it caps at age 67 for those born in 1960 or later.
Social Security Spousal Benefits Do Not Earn Delayed Retirement Credits
As you know, you can earn delayed retirement credits that will increase your own Social Security benefit by 8% per year for each year between your FRA and age 70. However, even if you wait until 70 to maximize your benefit, spousal benefits do not earn delayed retirement credits. Your spouse can only receive 50% of what your benefit would’ve been if you had filed at your FRA.
“When applying for spousal benefits, your spouse will also be applying for benefits based on their own work record.”
How Filing For Social Security Early Affects Your Spouse
The amount your spouse can receive depends on when you decide to claim it. You can file for Social Security as early as age 62 for your own benefit but you’ll receive a reduced benefit for the rest of your life. As a result, filing early permanently reduces the spousal benefit your spouse is eligible to receive under your work record.
When applying for spousal benefits, your spouse will also be applying for benefits based on their own work record. If their benefit is higher than a spousal benefit based on your record, they’ll receive the higher amount of the two.
Understanding Social Security Survivor Benefits
When you pass away, your surviving spouse can file for benefits at any time between age 60 and their FRA. If they start survivor benefits at an earlier age, the amount will be reduced a fraction of a percent for each month before their FRA.
If they wait until their FRA, they’ll receive 100% of your benefit. If you filed for an early benefit before you died, their benefit will be based on the reduced amount. On the other hand, if you delayed your Social Security benefit until age 70, your survivor will receive the increased amount.
Before you retire, connect with an FRC® trained advisor to learn more about Social Security filing options for you and your spouse.
