Spouse’s Benefit
What Does Spouse’s Benefit Mean?
A spouse’s benefit is a financial benefit provided by Social Security to the spouse of a worker. The benefit amount is typically 50% of the worker’s Social Security benefit. To qualify, the worker must have filed for retirement benefits, and the spouse must either be at least 62 years old or any age if they are caring for a qualifying child—defined as a child under 16 or receiving Social Security disability benefits.
In the context of insurance, a spouse’s benefit operates similarly to an annuity, providing a steady source of retirement income.
Insuranceopedia Explains Spouse’s Benefit
Spousal benefits are a key component of many retirement income strategies. In addition to current spouses, widows, and ex-spouses may also qualify for these benefits. Ex-spouses must have been married to the worker for at least 10 years and remain unmarried until age 60 to qualify. Unlike current spouses, ex-spouses can claim spousal benefits as long as their ex is at least 62 and eligible for Social Security, even if the ex has not yet filed for benefits.
A spouse can receive up to 50% of their partner’s retirement benefit as a spousal benefit, but this maximum applies only if the spouse claiming waits until their full retirement age (FRA). The FRA varies by birth year and ranges from 65 and 2 months to 67 years. Filing earlier results in a reduced benefit. However, Social Security ensures that the claimant receives the higher of the two amounts: their own retirement benefit or the spousal benefit.
