The amount of your Social Security benefit is based on your date of birth, the type of benefit you apply for and, most importantly, your lifetime earnings. Read more about it here.
The amount of your Social Security benefit
is based on your date of birth, the type of benefit you apply for
and, most importantly, your lifetime earnings. And, if you're age
25 or older and not already receiving Social Security benefits on
your own earnings record, each year they will send you a Social Security
Statement that displays your earnings record and provides estimates
of the retirement, disability and survivors benefits you and your
family may be eligible to receive now and in the future. You should
receive your Statement about three months before your birthday.
You also can request a Social Security Statement by visiting their
website at http://www.ssa.gov/mystatement,
calling--1-800-772-1213 or contacting a local Social Security office.
When you receive your Statement, be sure to check your earnings record
carefully. You share responsibility with your employer for making
sure all of your earnings have been reported and that they are accurate.
That's important because your benefits will be based on our record
of your lifetime earnings. When you visit the website at http://www.ssa.gov
be sure to click on the Benefit Planners to get more help in planning
for a comfortable retirement. You'll be able to estimate your benefits
based on different assumptions about your future earnings or when
you plan to stop working. You'll also learn more about disability
and survivors benefits and what they could mean to you and your family.
Remember! Your Social Security benefit amount depends on how
much you earned and it goes up with the cost of living.
When you start collecting Social Security retirement or disability
benefits, other members of your family also may be eligible for payments.
For example, benefits can be paid to:
your husband or wife if he
or she is age 62 or older (unless he or she collects a higher Social
Security benefit on his or her own record);
your husband or wife
at any age if he or she is caring for your child (the child must be
under age 16 or disabled and receiving Social Security benefits);
and
your children, if they are
unmarried and under age 18;
under
age 19, but in elementary or secondary school as a full-time student;
or
age 18 or older and severely disabled (the disability must have
started before age 22).
Each family member may be eligible for a monthly
benefit that is up to 50 percent of your retirement or disability
benefit amount. However, there's a limit to the total amount of money
that can be paid to a family on your Social Security record. The limit
varies, but is generally equal to about 150 to 180 percent of your
retirement benefit. (It may be less for disability benefits.) If the
sum of the benefits payable on your account is greater than this family
limit, the benefits to the family members will be reduced proportionately.
Your benefit will not be affected.
If you are divorced (even if you
have remarried), your ex-spouse may qualify for benefits on your record.
In some situations, he or she may get benefits even if you're not
receiving them. To qualify, your ex-spouse must:
have been married
to you for at least 10 years;
be at least 62 years old;
be unmarried;
and
not be eligible for an equal or higher benefit on his or her
own Social Security record, or on someone else's Social Security record.
Here's An Important Point: If your ex-spouse receives benefits
on your account, it doesn't affect the amount of any benefits payable
to you or your other family members.
Benefits To Divorced Widow(er)s
If you are divorced (even if you have remarried), your ex-spouse will
be eligible for benefits on your record when you die. In order to
qualify, your ex-spouse must:
be at least age 60 years old (or 50
if disabled) and have been married to you for at least 10 years;
be any age if caring for a child who is eligible for benefits on your
record;
not be eligible for an equal or higher benefit on his or
her own record; and
not be currently married, unless the remarriage
occurred after age 60--or 50 for disabled widows.
(In cases of remarriage
after the age of 60, your ex-spouse will be eligible for a widow's
benefit on your record or a dependent's benefit on the record of his
or her new spouse, whichever is higher.)
Here's An Important Point: If your ex-spouse receives benefits
on your account, it does not affect the amount of any benefits payable
to other survivors on your record.
How Much Will Your Survivors Get?
Your survivors receive a percentage
of your basic Social Security benefit--usually in a range from 75
to 100 percent each. However, there is a limit to the amount of money
that can be paid each month to a family. The limit varies, but is
generally equal to about 150 to 180 percent of your benefit rate.
If the total benefits payable to your surviving family members is
greater than this limit, your family's benefits will be reduced proportionately.
The Social Security Statement provides an accurate measurement of
potential survivors benefits payable on your record. And you can use
the Benefits Planner on our website to get estimates of what your
survivors might get.
Retirement Benefits For Widow(er)s
If you're receiving widows or widowers (including divorced widows
or widowers) benefits, you can switch to your own retirement benefits
as early as age 62 (assuming you're eligible and your retirement rate
is higher than your widow(er)'s rate). In many cases, a widow(er)
can begin receiving one benefit at a reduced rate and then switch
to the other benefit at an unreduced rate when reaching full retirement
age. The rules are complicated and vary depending on your situation,
so talk to a Social Security representative about the options available
to you.
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