Most people know at least something about Social Security. For decades, Social Security has been providing valuable information and tools to help you build financial security. Here’s your opportunity to find out a little more, with some lesser-known facts about Social Security.
1. Social Security pays benefits to children.
Social Security pays benefits to unmarried children whose parents are deceased, disabled, or retired. See Benefits for Children at www.socialsecurity.gov/pubs/EN-05-10085.pdf for the specific requirements.
2. Social Security can pay benefits to parents.
Most people know that when a worker dies, we can pay benefits to surviving spouses and children. What you may not know is that under certain circumstances, we can pay benefits to a surviving parent. Read our Fact Sheet Parent’s Benefits, available at www.socialsecurity.gov/pubs/EN-05-10036.pdf, for the details.
3. Widows’ and widowers’ payments can continue if remarriage occurs after age 60.
Remarriage ends survivor’s benefits when it occurs before age 60, but benefits can continue for marriages after age 60.
4. If a spouse draws reduced retirement benefits before starting spouse’s benefits (his or her spouse is younger), the spouse will not receive 50 percent of the worker’s benefit amount.
Your full spouse’s benefit could be up to 50 percent of your spouse’s full retirement age amount if you are full retirement age when you take it. If you qualify for your own retirement benefit and a spouse’s benefit, we always pay your own benefit first. (For example, you are eligible for $400 from your own retirement and $150 as a spouse for a total of $550.) The reduction rates for retirement and spouses benefits are different. If your spouse is younger, you cannot receive benefits unless he or she is receiving benefits (except for divorced spouses). If you took your reduced retirement first while waiting for your spouse to reach retirement age, when you add spouse’s benefits later, your own retirement portion remains reduced which causes the total retirement and spouses benefit together to total less than 50 percent of the worker’s amount. You can find out more at www.socialsecurity.gov/OACT/quickcalc/spouse.html.
5. If your spouse’s retirement benefit is higher than your retirement benefit, and he or she chooses to take reduced benefits and dies first, you will never receive more in benefits than the spouse received.
If the deceased worker started receiving retirement benefits before their full retirement age, the maximum survivors benefit is limited to what the worker would receive if they were still alive. See www.socialsecurity.gov/planners/survivors/survivorchartred.html for a chart.
Social Security helps secure your financial future by providing the facts you need to make life’s important decisions.
Marcus Geiger is Social Security District Manager in Gallipolis, Ohio.