The answer could be just a few clicks away.
Most married couples have the benefit of not one, but two Social Security checks in retirement. Even if only one spouse worked, the other can claim a spousal benefit that could be worth hundreds to thousands of dollars. The average monthly spousal benefit as of December 2022 was about $889, which would be worth nearly $1,000 per month in 2024.
But your choices play a big role in how much you take home from the program. Below, we’ll talk about how your partner’s benefit and your claiming age determine the size of your checks.
The worker’s retirement benefit forms the foundation
A spousal Social Security benefit is based on the worker’s primary insurance amount (PIA). That’s the benefit they qualify for at their full retirement age (FRA), which depends on their birth year. The table below can help you find yours:
| BIRTH YEAR | FULL RETIREMENT AGE (FRA) |
|---|---|
| 1943 to 1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 and later | 67 |
SOURCE: SOCIAL SECURITY ADMINISTRATION.
To calculate PIA, the government plugs the worker’s average monthly earnings over their 35 highest-earning years, adjusted for inflation, into the Social Security benefit formula. The result is their PIA, but that’s not always the same as their take-home benefit.
The Social Security Administration runs an additional calculation to adjust benefits up or down for those who don’t claim right at their FRA. Claiming early shrinks checks by 5/9 of 1% per month for up to 36 months of early claiming. Those who sign up more than 36 months early lose an additional 5/12 of 1% per month. This means your checks will be 25% to 30% smaller if you claim at 62.
Delaying benefits, on the other hand, increases a worker’s benefit by 2/3 of 1% per month up until they reach 70. That results in a maximum benefit of 124% to 132% of their PIA.
How to calculate your spousal Social Security benefit
A Social Security spousal benefit is worth up to half of the worker’s PIA, but there’s a similar penalty for early claiming. If you sign up before your FRA, you’ll lose 25/36 of 1% per month for your first 36 months of early claiming and 5/12 of 1% per month for every month of early claiming beyond that. Unfortunately, there’s no benefit to delaying spousal Social Security beyond your FRA.
You can estimate the size of your spousal Social Security benefit by having your spouse create a my Social Security account. They’ll need to answer some identity verification questions to set it up. Then, they can access several valuable resources, including a calculator that estimates their Social Security benefit at every claiming age.
This calculator makes some assumptions about how long your partner will work and what their income will be during this time. But you can adjust these up or down as necessary. When you feel you’ve accurately estimated their future earnings, look at the benefit amount at their FRA.
On the same page, you should see a tool where you can check the amount of your spousal benefit. Enter your date of birth and desired claiming age to see what you could get.
Maximizing your household Social Security benefits
Coordinating your Social Security strategy is key to maximizing your household benefits. You cannot claim a spousal benefit until your partner signs up for the program. But if you qualify for a retirement benefit in your own right, you may claim this whenever you’re ready.
Timing your claim is crucial if you hope to get the largest lifetime benefit. For many people, delaying benefits is best if it’s feasible. But those with shorter life expectancies and those struggling with their bills might prefer to sign up earlier. Explore a few options to find out what’s best for you.
Sit down with your spouse and select a tentative Social Security claiming age for both of you. Once you know this, you can figure out how much of your retirement income needs your checks will meet and how much you must save on your own.
