Social Security benefits play a critical role in supporting millions of seniors in the United States.
According to the Social Security Administration (SSA), around 67 million people rely on these benefits to manage their living expenses.
The average monthly payout in August 2024 is approximately $1,920 before the cost of living adjustment (COLA) for 2025.
For many, this steady income stream provides the foundation for a comfortable retirement, especially for those who had lower-paying jobs throughout their careers.
How Social Security Benefits Are Calculated?
Social Security benefits are calculated based on the highest 35 years of earnings during a person’s career. To qualify for these benefits, an individual must have earned 40 “credits,” which are obtained by working and paying Social Security taxes.
For 2024, one credit is earned for every $1,730 of income, and a person can earn up to four credits per year.
If someone works consistently for 10 years and meets the minimum income requirement each year, they will be eligible for Social Security benefits.
However, spousal benefits are different. You don’t need to have earned these credits yourself to qualify. As long as you’re married, you can receive benefits based on your spouse’s Social Security record, assuming they’ve earned the required credits.
Benefits for Spouses: A Lifeline for Lower Earners
Spousal benefits are designed to assist individuals who did not earn enough during their working years to qualify for their own Social Security benefits.
These benefits can make a significant difference for individuals who were primary caregivers or had lower-paying jobs throughout their careers.
When you apply for Social Security, the SSA automatically compares your benefit to the spousal benefit and pays you the higher amount.
This is especially beneficial for people who may not be actively involved in their financial planning, such as stay-at-home parents or those who rely on a spouse’s income.
The spousal benefit helps lower earners achieve financial stability in retirement. The most common scenario is for one spouse to have stayed home to care for children while the other worked.
In such households, the stay-at-home spouse may not have earned enough credits to receive their own Social Security benefits.
The spousal benefit ensures that they can still access Social Security funds based on their partner’s earnings.
On average, the spousal benefit is around $912 per month, which helps balance household income and improve financial security.
Survivors Benefits: Protection After Loss
One of the greatest advantages of spousal benefits is the additional coverage they offer in the form of survivor benefits.
If your spouse passes away, you may be eligible to receive benefits based on their Social Security record. This benefit is crucial because it provides financial support during an incredibly difficult time.
Survivor benefits are not dependent on your own work history, meaning that if you were a stay-at-home parent or low-earner, you could still receive a payout.
The SSA even provides benefits for dependent children and, in some cases, dependent parents of the deceased.
If the surviving spouse is taking care of a child under the age of 16 or a child with a disability, they may be eligible for survivor benefits even before reaching full retirement age.
However, the payout may be reduced if benefits are taken early, just as with regular Social Security benefits.
An Extra Opportunity for Survivor Benefits
If you lose your spouse before reaching retirement age, you can apply for survivor benefits as early as age 60.
While this may provide some immediate relief, it’s worth noting that survivor benefits can be combined with your own Social Security benefits.
If you continue to work after claiming survivor benefits, you can delay claiming your own Social Security benefits until you turn 70, which allows you to maximize your payout.
The key idea here is that survivor benefits give you the flexibility to continue working and delaying your benefits, thereby increasing your eventual retirement payout.
Although the situation is tragic, it creates a unique opportunity to build a more stable financial future.
Claiming Spousal or Survivor Benefits: What You Need to Know
It’s important to remember that you can only claim one type of benefit at a time, even if you qualify for multiple options.
The SSA will automatically give you the larger of the two benefits. However, you do have some control over the timing of when you claim your benefits.
If you choose to delay your benefits, this can increase the value of your payouts in the long run.
If you’re eligible for both spousal and survivor benefits, the SSA will generally provide you with the highest amount possible.
But by carefully planning and delaying the start of your own Social Security benefits, you can maximize the total amount you receive in the future.
This strategy can help you build a better retirement plan while giving you the financial support you need earlier in life.
Final Thoughts
Spousal and survivor benefits provide essential financial support for individuals who might otherwise struggle to secure a comfortable retirement.
While no one wants to face the loss of a spouse, understanding how these benefits work can make a difficult situation a little easier.
If you find yourself in such a situation, it’s important to explore your options and take advantage of the opportunities available to you.
By strategically managing the timing of your Social Security benefits, you can maximize your retirement income and create a more stable financial future.
Whether you are planning or coping with the loss of a spouse, spousal, and survivor benefits are a vital part of the Social Security system that can help you navigate your financial future with confidence.
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Archer Bannister is a journalist with 4 years of experience covering hard-hitting stories. Currently working with Mikeandjonpodcast, Archer specializes in delivering timely and in-depth updates on a variety of topics, including crime news, politics, and national issues affecting the USA. His expertise and dedication to delivering accurate, impactful news make him a trusted voice for audiences seeking to stay informed on critical topics.
