Social Security: how your claiming age impacts your spouse’s benefits

If a higher-earning spouse dies, their surviving partner is typically eligible for Social Security survivor benefits, which are equal to 100% of the monthly check the deceased spouse received.

Filing for Social Security before your full retirement age (FRA) results in a reduced benefit amount. This reduction applies not only to your own checks but also to the survivor benefits your spouse would receive. Conversely, delaying your claim past FRA increases your monthly payments, which in turn boosts the survivor benefits your spouse would be eligible for.

Larger survivor benefits provide financial security and purchasing power for the surviving spouse. They are also subject to annual cost-of-living adjustments, meaning the raises are more substantial with a higher base benefit amount.

Financial experts recommend couples discuss Social Security claiming strategies before making a decision. Factors to consider include overall retirement savings, reliance on Social Security income, and potential future healthcare costs. If savings are limited and Social Security is a primary income source, delaying benefits might be advantageous to maximize the survivor’s payments. If there are ample savings, claiming early might be acceptable despite the impact on survivor benefits.

Ultimately, open communication between spouses is crucial to ensure a well-informed decision and avoid potential regrets down the line.