Your Social Security Benefits

What Can Your Spouse Expect to Receive?

Your working spouse will receive the higher of his or her own benefit or the non-working spouse's benefit, but not both. The non-working spouse's benefit equals 50% of your benefit. If your spouse never worked, he or she is still entitled to 50% of your benefit. Your spouse (either working or non-working) is eligible to receive that benefit when he or she reaches full retirement age. A non-working spouse can receive a reduced benefit as early as age 62, but he or she can start receiving the benefit only after you begin to receive your benefit.

You will also need to understand the financial consequences if you elect to receive benefits early, as well as how much you can earn without reducing your benefits. You can increase your benefit amount by postponing collecting benefits beyond your full retirement age. You should look into how Social Security compensates for the effects of inflation, and the extent to which your benefits will be taxable.

The Social Security Administration will send you a yearly Social Security Statement, which will help you plan when you will start receiving benefits.

Share Article:
Add to GooglePlus

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC. Insurance products are offered through LPL or its licensed affiliates. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.

Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency Not Credit Union Guarantee Not Credit Union Deposits or Obligations May Lose Value