Divorcing your spouse often means reevaluating how you’ll spend your retirement. Even if you’re not spending the rest of your life with your ex, you may still be entitled to certain Social Security retirement benefits after divorce. Here’s a brief overview of how it works and what to expect.
Who qualifies for spousal retirement benefits?
There are six requirements for divorced spouse Social Security retirement benefits:
- The marriage lasted 10 or more years
- You have been divorced for two or more years
- You are at least 62
- You are not married
- Your Social Security retirement benefit based on your own work history is less than the divorced spouse benefit
- Your ex is entitled to receive their own Social Security retirement benefits
Although this is extremely helpful for stay-at-home spouses, you won’t be disqualified if you also worked full-time before, during or after the marriage.
Social Security divorced spouse retirement benefits
If you qualify for divorced spouse retirement benefits, you can receive up to 50 percent of your ex’s full retirement benefit—as long as you wait until you reach full retirement age. This is typically ages 66 to 67.
However, even if you’re not at full retirement age, you can start receiving benefits as early as age 62. However, the Social Security Administration reserves the right to permanently reduce the benefits by up to 30 percent when you file early.
Generally, you don’t have to negotiate Social Security benefits in your divorce settlement, but it could affect when you divorce. If you’re ready to split up but haven’t quite reached the 10-year mark, it may behoove you to wait to divorce your spouse. Always seek advice from a trusted attorney to ensure you’re making the right choices for your situation.
For help with your divorce and Social Security retirement benefit questions, call the experienced divorce lawyers at Appelhof, Pfeifer & Hart, P.A. in St. Paul, MN.
