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For those collecting spousal or divorce benefits, the 2.5% COLA likely won't have a significant effect on benefits. The average spouse of a retired worker collects around $909 per month from ...
Originally, the Social Security Administration paid spousal benefits only to the extent that they exceeded other benefits that the spouse earned. The rules have changed so that benefits can remain ...
Image source: Getty Images. 1. 2.5% cost-of-living adjustment (COLA) All Social Security benefits received a 2.5% increase in January, thanks to the latest cost-of-living adjustment (COLA).
For example, a "normal" spousal or widow(er)'s benefit of $1,000/month was reduced to $0.00, if the spouse or widow(er) was already drawing a non-FICA taxed government pension of $1,500 or more per month. Pensions from work where Social Security taxes were paid, did not reduce Social Security spousal or widow(er)'s benefits.
A spouse’s Social Security benefit is directly tied to the payout that the primary beneficiary receives. If your spouse files for benefits at age 62, your spousal benefit will be permanently ...
With both types of benefits, the most you can collect is 50% of your spouse's or ex-spouse's benefit amount at their full retirement age. Starting in 2025, the maximum possible benefit at full ...
According to the 2024 Social Security Statistical Supplement, there are about 1.98 million people actively receiving a spousal benefit from Social Security. The average monthly benefit was $890.24 ...
The biggest projected change affecting benefits this year ... Spousal Benefits. A Social Security spousal rule that has been around for decades officially ends this year for everyone except those ...