Retirement Rules For Social Security In Bexar
Description
Form popularity
FAQ
Early as age 62, and then switch to the survivor benefit If you will be using one of these strategies, please ask a Social Security representative if you can receive one benefit and delay the other to increase its value. Otherwise, you may receive the greater of the two benefits.
The earnings limit for people reaching their “full” retirement age in 2025 will increase to $62,160. (We deduct $1 from benefits for each $3 earned over $62,160 until the month the worker turns “full” retirement age.) There is no limit on earnings for workers who are "full" retirement age or older for the entire year.
A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal retirement age, up to 36 months.
If your spouse is not receiving any retirement benefits yet, then you could technically take your regular Social Security benefit as early as age 62. When your spouse files for their benefit later you could switch to spousal benefits.
Some American workers do not qualify for Social Security retirement benefits. Workers who don't accrue the requisite 40 credits (roughly 10 years of employment) are not eligible for Social Security. Some government and railroad employees are not eligible for Social Security.
If you claim your regular Social Security benefit before your higher-earning spouse does, you have the option of switching to spousal benefits at a later date when (or after) your spouse decides to file.
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
The first exception, which can be deemed as the Social Security spousal benefits loophole, works where an individual who remarries at 60 or later may still be entitled to Social Security survivors' benefits if the second marriage ends before the death of the first spouse.
For anyone born 1960 or later, full retirement benefits are payable at age 67.
