Social Security Survivors Benefits
What do widows need to know about claiming survivors benefits? Kurt Czarnowski a renowned social security expert, explains.
Key Takeaways
- Widows and widowers can claim survivor benefits as early as age 60 (earlier than the age 62 minimum for retirement benefits), but claiming before full retirement age results in a permanently reduced monthly payment
- If you worked and paid into Social Security, you can sequence your benefits by claiming a reduced amount on one account (either survivor or retirement) and then switch to claim a higher amount on the other account later—this strategy was NOT eliminated by the 2015 Bipartisan Budget Act
- Understand that survivor benefits are calculated based on your deceased spouse's earnings record, not your own, and this is separate from any retirement benefit you may be eligible for based on your work history
- The 'claim now, claim more later' strategy that allowed spousal benefit recipients to switch accounts was eliminated for anyone born January 2, 1954 or later, but this restriction does NOT apply to survivor benefits
Social Security Survivors: What do widows need to know about claiming survivors benefits? Kurt Czarnowski a renowned social security expert, explains. Follow this link to learn more about social security on finStream TV: https://www.finstream.tv/videos/social-security/
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