Chicago, Illinois – Many individuals in Chicago receive Social Security benefits based on their own work history. However, there is an option for those who may instead claim retirement checks based on their spouse’s work record. These benefits, known as spousal benefits, allow individuals to receive as much as half of the full benefit owed to their husband or wife.
Spousal benefits may be particularly advantageous for individuals whose spouses have earned more than them. The benefits are not only available to current married individuals, but also to those who are divorced, as long as specific requirements are met.
For those who are divorced, they may still be entitled to spousal benefits if they were married for at least 10 years and have not remarried someone else. However, if they have remarried since their divorce, they would typically claim benefits based on their new partner’s earnings records.
Individuals who are eligible for spousal benefits after a divorce must be at least 62 years old to receive their first check from Social Security. Starting before their full retirement age will result in a permanent reduction in the amount received.
Unlike when claiming their own Social Security retirement benefits, individuals cannot earn delayed retirement credits by waiting until after their full retirement age to begin receiving spousal benefits. Additionally, if they have been divorced for at least two years, they do not need to wait for their ex to claim their own retirement benefits before receiving spousal benefits, unlike married couples. This is an important distinction to consider when strategizing the best time to claim these benefits, as they could serve as a key source of income in later years.