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Spousal benefits can equal up to 50% of your higher-earning partner's standard Social Security benefit (called their primary insurance amount or PIA). However, spousal benefits shrink if you claim ...
You must claim Social Security benefits at your full retirement age to get your standard benefit. Your full retirement age is based on your birth year. Early filing penalties or delayed retirement ...
Several factors influence benefit amounts, so your payment is unique to your career history. Your benefit is based on your wages throughout the 35 years of your career you earned the most.
The formula for calculating your PIA is based on the average indexed monthly earnings, or AIME, in your 35 highest-earning years after age 21, up to the Social Security wage base.
In the past, your Social Security statements and benefit amounts were only available via a paper statement sent to your home. Now, you can access your benefit amount online through a ...
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
The average Social Security benefit by age. ... To receive the full benefit you're entitled to based on your ... claiming at age 70 was the ideal choice to maximize their lifetime benefit amount ...
According to the Social Security Administration, or SSA, the monthly retirement benefit for Social Security recipients is currently $1,783.55 in 2024 on average. Several factors can drag that ...