Who qualifies for Social Security Retirement Benefits?

16-12-2017 gullywasher
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Copyright © 2012 AARP. All rights reserved.

Social Security retirement benefits were established to help older Americans live in dignity and independence after a lifetime of work. To qualify for these benefits, you must meet certain income requirements. The good news is that these requirements in relatively easy reach for most healthy people who have worked for a number of years.

How do you qualify for Social Security

According to the rules, you get credits toward qualify by earning a certain amount of money. Most workers get the necessary funds, without thinking about it. In general, 40 credits - which you can pick up in ten years covered employment - does the trick Covered Employment means a job in which you and your employer pay Social Security taxes .. Nowadays, almost all jobs are covered.

People born before 1929 need fewer than 40 credits to qualify.

In 2012, the Social Security awarded a credit for each $ 1,130 of earnings, and you could get up to a maximum of four credits per year. For example, say you earn $ 4,520 in 2012. That means you have a total of four credits earned. Now, you say $ 100,000 earned in 2012. You still have earned a total of four credits, for four credits, the annual maximum no matter how much money you make.

Retirees are eligible for benefits on the first full month after their 62nd birthday - so if you turn 62 on July 19, you become eligible for benefits on Aug. 1. The payment would arrive in August-September, however, because social security pays with a one-month delay rule.

You do not have to take advantage when 62. The longer you wait, the higher your monthly payment will be, until you reach 70. At that time there is no further delay in payment.

Who can receive social security

If you qualify for retirement benefits, social security can also offer benefits for other family members under certain conditions without the advantages that go for you. Eligibility may include dependents

  • A spouse 62 years or older.
  • A spouse of any age who cares for your dependent child who is younger than 16 or disabled.

    The SSA has a tendency to follow the state guidelines in recognizing common law marriages, although the rules allow some leeway for interpretation. As of 2012, the SSA does not provide spousal benefits to same-sex unions.

  • Your children.

    To qualify, children must fall into one of the following categories:

    • Younger than 18 and unmarried
    • Full-time students up to age 19 who have not completed high school and be unmarried
    • 18 years or older and severely disabled with a disability that began before age 22
  • Grandchildren.

    If your grandchild depends on you financially, and the parents of the grandchild do not support, the grandchild may qualify for social security benefits on your work record.

  • An ex-spouse.

    Your ex may get benefits in the following cases:

    • You were married for at least 10 years.
    • You've been divorced for at least two years.
    • He or she is 62 years or older, has not remarried and is not eligible for a higher benefit on someone else's work record.