Tuesday, May 17

Social security retroactive benefits: What are they and how they affect payments?

Did you know that if you don’t pay Social Security, you may be eligible for spousal benefits in you are married or formerly married to a contributor?

You could be eligible for Social Security retroactive benefits.

“Spouses who apply at their full retirement age may be eligible for a benefit equal to 50% of the other spouse’s benefit,” Investopedia reported.

What are Retroactive Benefits?

The retroactive benefits are a “one-time payment the Social Security Administration (SSA) can make to people who delay filing for retirement benefits beyond their full or “normal” retirement age.”

In case you file your Social Security benefits after reaching the full retirement age, you could request a retroactive benefit to reimburse you for the monthly payments missed.”

You can receive a maximum of six months.

What if I don’t have a spouse or file for regular, non-spousal retirement benefits?

If you file for regular, non-spousal retirement benefits, when you reach the monthly full retirement age, you could lose the “delayed retirement credits” earned.

What about spousal benefits?

There are no delayed retirement credits. You can’t claim a delay with a retroactive benefit when married.

By applying for Social Security spousal benefits after your full retirement age, you could be eligible for a “retroactive payment.”

The best way to apply for the spousal benefits is to wait until you reach your full retirement age and collect them immediately.

However, before you apply, verify the information with a counselor at your Social Security office.


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