Losing a spouse is a devastating experience, and coping with the financial implications can add to the burden. Thankfully, Social Security provides benefits to help widows and widowers navigate this difficult time. Here is a breakdown of what you need to know:
Who is eligible?
Generally, you may qualify for widow’s benefits if you meet the following criteria:
- Marriage: You were married to the deceased worker for at least nine months before their death. Some exceptions apply to the nine-month rule, such as if the death was accidental or in military service.
- Age: You are at least 60 years old, or 50 years old if you are disabled.
- Dependency: You were receiving at least half of your support from your deceased spouse.
How much will I receive?
The amount you receive depends on several factors, including your filing age, your spouse’s past earnings, and your employment income.
- Your age: If you claim survivor benefits at your full retirement age (FRA), you’ll receive 100% of your deceased spouse’s benefit. If you claim earlier, your benefit will be reduced for every month you file before FRA. The reduction amount depends upon your birth year and when you file.
- Your spouse’s earnings: The more your spouse earned and paid into Social Security, the higher your benefit will be. You can determine this amount by getting a Social Security statement or by calling the Social Security administration.
- Other income: Social Security does have an earnings test for survivor benefits if you are filing under your FRA. If you are under your FRA for the entire year, the earnings limit is $22,320 for 2024. If you are working and earning income over this amount, your benefit will be reduced by $1 for every $2 you earn over this amount.
When can I claim benefits?
You can start receiving widow’s benefits as early as age 60, but your benefit will be permanently reduced if you claim before your FRA (as outlined below). You can also delay claiming benefits past your FRA to increase your monthly payment.
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- For Birth Years Before 1957: If your FRA is 66, the reduction is 5/9 of 1% for each month before your FRA, up to 36 months. If you claim more than 36 months early, the reduction increases to 5/12 of 1% for each additional month.
- For Birth Years 1957 and Later: If your FRA gradually increases from 66 to 67, the reduction is slightly higher. It’s 25/36 of 1% for each of the first 36 months and 5/12 of 1% for each month beyond 36 months.
Can I apply for survivors benefits and delay my own retirement benefit?
If you are eligible for both survivor benefits based on your deceased spouse’s work record and your own retirement benefits based on your work record, you have a valuable option. You can claim the survivor benefit as early as age 60 while delaying claiming your own retirement benefit. While you may take a reduced survivors benefit by filing early, you can delay claiming your own retirement benefits until age 70.
This allows you to maximize your own retirement benefit by allowing it to grow by 8% per year until age 70. This means you can potentially receive a significantly larger monthly payment later on while still receiving some social security income in the form of a survivors benefit from 60 to 70.
For example, let’s say you’re 62 and eligible for a $2,000 survivor benefit and a $1,750 retirement benefit. You could claim the survivor benefit now and let your own retirement benefit grow until age 70. At 70, your retirement benefit would have increased from $1,750 to $3,100. You can then switch to this higher benefit at age 70.
How do I apply?
You can apply for widow’s benefits online, by phone, or in person at your local Social Security office. You must provide certain documents, such as your marriage and spouse’s death certificates.
Important considerations:
- Remarriage: If you remarry before age 60 (or age 50 if disabled), you will generally not be eligible for widow’s benefits. However, if you remarry after age 60, you may still be eligible.
- Government Pension Offset: If you receive a pension from a government job in which you did not pay Social Security taxes, your widow’s benefits may be reduced.
Where to learn more:
- Social Security Administration website: ssa.gov
- Social Security Handbook: ssa.gov/OP_Home/handbook/handbook.html
- Local Social Security office: You can find your local office by visiting ssa.gov/locator
Social Security widow’s benefits can provide a vital source of income during a challenging time. Understanding your eligibility and options is crucial to making informed decisions about your financial future. If you need assistance navigating the complexities of maximizing your Social Security benefits, we would be happy to assist you.
