Liz Weston: How your ex could boost your Social Security
But Rivera was married for 10 years to a man who has consistently earned much more than she has. When Rivera retires in a few years, she expects to receive a
Many divorced people don’t realize they can get
Here are the basics: You may qualify for benefits based on your ex’s work record if your marriage lasted at least 10 years. Any benefit you receive won’t affect the amounts your ex, your ex’s current spouse or any of your ex’s other ex-spouses will receive.
However, the rules for these benefits depend on whether your ex is alive or dead.
WHEN YOUR EX IS ALIVE: DIVORCED SPOUSAL BENEFITS
If your ex is still alive and you haven’t remarried, you may qualify for divorced spousal benefits. This benefit could be up to 50% of what the ex would get at full retirement age, which is currently between age 66 and 67.
You would get a divorced spousal benefit only if it’s greater than the amount you’ve earned on your own work record when you apply.
To apply, you must be at least 62. Your ex must be at least 62 as well, or receiving
However, applying for
Making the right choice is important because you can’t switch from a divorced spousal benefit to your own benefit later — even if your own is eventually larger. (Your own retirement benefit can grow over time if you continue to work. In addition, you can earn “delayed retirement credits” that increase your retirement benefit by 8% for each year you put off applying, between your full retirement age and 70, when benefits max out.)
WHEN YOUR EX IS DEAD: DIVORCED SURVIVOR BENEFITS
If Rivera’s ex dies before she does, she could be eligible for a different payment: the divorced survivor benefit.
This benefit is more generous in many ways. The divorced survivor benefit can be up to 100% of what your ex was receiving. You can apply for this benefit as early as age 60, or age 50 if you’re disabled. As with divorced spousal benefits, the amount will be reduced and subject to the earnings test if you start before your own full retirement age.
But you can be married and still get divorced survivor benefits based on an ex’s work record, as long as you remarried at 60 or older. Plus, you can switch from a divorced survivor’s benefit . For example, you could start with a divorced survivor benefit as early as age 60 and then change to your own retirement benefit at 70, if it’s larger.
YOU MAY NEED TO CALL YOUR EX
Rivera is confident that half of her ex’s benefit will be more than her own, even if she waited to apply until her own retirement benefit maxes out at 70. To know for sure, though, she’d need to ask her ex to share his
You can easily check your own earnings record and projected benefit amounts by setting up a “my Social Security” account at www.ssa.gov. These figures can help you calculate how to maximize your benefit, using free claiming calculators like the one at
But you can’t get similar access to an ex’s record, Meyer notes. Without asking your ex to share their statement, you may not know how much your divorced benefits are worth until you actually apply. That can make it tough to plan ahead and maximize your lifetime
“Even though you may not want to call your ex, this may be the one time it’s worth making a phone call,” he says.
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This column was provided to The Associated Press by the personal finance website
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