Why Women Need To Learn Regarding Social Security Spouse And Survivor Benefits When Social Security was initiated back in 1935 it was normal for women to remain inside home to raise the family. In a large number of families the husband was the higher earner or the only earner in the family. Furthermore, women statistically outlive men, particularly if the wife is younger than the husband. The combination of lower or no earnings and a longer life span meant many women got themselves in poverty when their husbands died, as their husband's Social Security retirement benefits expired at their death. The Social Security Board recognized the issues that women face and have implemented several modifications to the system over the years to account for these needs. One of the first amendments to the Social Security plan was to allow women to apply for benefits at age 62 in place of waiting until 65 under the assumption that they were younger than their spouses and that they would want to retire at the same time. Then in 1939 two new categories of benefits were added: Social Security survivor benefits and dependent benefits (to be paid to the spouse and minor children of retired workers). These modifications transformed Social Security from a retirement plan that only paid benefits to retired workers into a family-based plan, where spouses and children may receive benefits of retired, disabled or deceased workers. This was an incredible help to women who did not qualify for retirement benefits on their own, or who had considerably smaller benefits than their husbands. Today, although it's not unusual for women to earn as much or more than their husbands, they still may take time off to raise families, and they still typically live longer than their spouses. In addition, the number of divorced women reaching retirement age is higher than it has ever been. As a result of of this, many women still receive Social Security spousal benefits or survivor benefits instead of benefits depending on their own job records. So it's necessary for women - no matter what their relationship status is - to understand the spousal and survivor benefits offered to them along with the retirement benefits so they can get the highest benefits they are entitled to. Social Security Benefits: A Useful Discussion On Terms To Get The Benefit & Methods To Collect After A Family Member's Death The loss of a family member can be devastating, both emotionally and financially. Social Security is meant to be a survivor program as well as a retirement program. Most people are aware of Social Security retirement benefits, but are you aware that there are Social Security death benefits as well? Some Significant Facts Which You Require To Know About Social Security Spouse Benefits When most people think about Social Security, they naturally think of retirement benefits. However about 1/5 of all Social Security benefits are spousal or survivor benefits, so when you're planning for retirement, it's important to consider the fact that you or your spouse may collect Social Security survivor benefits How You Will Go With Social Security Survivor Benefits After Your Spouse Passes Away When Social Security was first established, it only paid retirement income to workers who qualified. It was later amended to include benefits for spouses and survivors, which made it more of a family or insurance plan, instead of just a retirement plan. Social Security Eligibility Rules: Can A Full-Time Homemaker Get Social Security? When Social Security was first established, most families only had one bread-earner, and only the working spouse qualified for retirement benefits. This caused financial difficulties for the spouse who didn't work (and therefore didn't qualify for Social Security) if the working spouse passed away first. Social Security Income: Tips To Help You Get The Most Out Of Your Social Security Income As you get closer to retirement, choosing when to take your Social Security may seem like rolling the dice. There are so many decisions to make, such as: How Are Social Security Benefits Calculated? Few Points & Factors Affecting The Benefits One of the most popular Social Security questions that I hear from baby boomers getting ready to retire is "how are Social Security benefits calculated?" This is an important question because it could affect how long you need to work, whether you should continue to work during your retirement years Using Government Grants So That You Can Upgrade And Improve Your Own Home. Being on the property ladder whether renting or owning your own home it can be a very expensive ordeal. Pay Day Loans:Understand More About It. Have you ever found yourself in an emergency situation? Do you require a substantial amount of money fast but don't know where to get it? Payday loans may be just the thing you need. |
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