Divorce benefits: You may be entitled to additional benefits under Social Security

Divorce benefits: You might be eligible for hundreds of additional bucks each month. For millions of seniors, Social Security benefits are a lifeline, and you may be able to receive more than you anticipate.

The amount of benefits you will receive depends on many criteria, including your age, income, and career length. However, your marital status will also have an impact on your Social Security payments; if you are divorced, you may be eligible for more monthly benefits.

The average spousal or divorce benefit is just under $900 a month, as of November 2023, but there are some stringent requirements you must fulfill before you can receive these payments. How to check if you qualify is provided here.

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Divorce benefits: what is it?

An exclusive category of Social Security benefits known as divorce benefits is available only to senior citizens who were formerly married. You may still be eligible for divorce benefits even if you have never worked and are ineligible for retirement benefits.

To qualify for this particular form of Social Security, you must fulfill the following requirements:

• A minimum of 62 years of age is required.
• You have to have been married for a minimum of ten years in your prior marriage.
• You are not allowed to be married right now.
• Your former spouse needs to be qualified for disability or retirement benefits.

Based on their employment history, your ex-spouse’s remarriage won’t have an impact on your eligibility to receive divorce payments. Moreover, receiving divorce payments will not reduce their benefit amount or impair their current spouse’s eligibility for spousal benefits.

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What is the maximum amount of divorce benefit that you can get?

50% of your ex-spouse’s pension at full retirement age (FRA) is the maximum amount of divorce benefits you are eligible to receive. In certain situations, you may still be eligible to receive divorce payments even if your employment history also qualifies you for retirement benefits.

Based on your employment history, the Social Security Administration will initially provide your benefit. You will get an additional payment if your divorce benefit exceeds that amount, making your total monthly benefit equal to the higher of the two sums.

For instance, if your ex-spouse receives $2,000 a month at their FRA and you are entitled to $800 per month in retirement benefits, your maximum divorce benefit would be $1,000 per month.

In this scenario, your monthly payment would be $1,000 after the Social Security Administration pays out your $800 and you receive an additional $200 in divorce payments. You will not be eligible for any sort of Social Security if your retirement payout exceeds your maximum divorce benefit.

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One crucial disclaimer

It’s also critical to remember that you must wait until your FRA to filed to receive the maximum amount of divorce benefits. Your FRA will vary according to the year of your birth; however, for those born in 1960 or later, it is 67 years old.

You will permanently lose up to 30% of your benefit each month if you submit before that age (as early as age 62). Furthermore, deferring claims past your FRA will not boost your divorce compensation—again, in contrast to conventional retirement benefits.

Benefits from divorce can be quite beneficial in retirement, increasing your monthly payouts by hundreds of dollars. You can arrange for a more pleasant retirement by utilizing all of the Social Security benefits for which you are eligible.

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