What You Need To Know About Social Security Spousal Benefits Calculations-What You Need To Know About Social Security Spousal Benefits Calculations

What You Need To Know About Social Security Spousal Benefits Calculations

Video Transcription

Video Summary

In this video, host Derek McGinty discusses how spousal benefits are calculated on Social Security. Social Security Thought Leader Stephen Richardson explains that to be eligible for spousal benefits, your spouse must already be collecting benefits, you must be married for more than a year, and you must be 62 or older. The benefit for a spouse who never worked is calculated as 50% of the working spouse's Primary Insurance Amount. If both spouses have worked enough to claim Social Security, the higher of the two benefits will be paid. The video also explains how retirement age affects benefit amounts and discusses spousal benefits for divorced individuals. Viewers are encouraged to visit ssa.gov for calculators and information on Social Security benefits.

Keywords

spousal benefits

Social Security

calculating benefits

retirement age

divorced individuals