Does Divorce Impact Social Security Benefits?

Divorce can have a significant impact on your Social Security benefits. It is important to understand how a divorce can affect your future benefits so that you can make informed decisions about your financial future.

How Does Divorce Affect Your Social Security Benefits?

Divorce can impact your Social Security benefits in several ways. Firstly, if you are eligible for benefits based on your ex-spouse’s work record, you may lose this eligibility after a divorce. Secondly, if you are eligible for benefits based on your own work record, the amount of benefits you receive may be impacted by your divorce.

Can You Receive Benefits Based on Your Ex-Spouse’s Work Record After a Divorce?

If you were married to your ex-spouse for at least ten years, you may be eligible to receive Social Security benefits based on your ex-spouse’s work record. However, this eligibility is lost if you remarry before reaching the age of 60. If you do remarry, you may be eligible for benefits based on your new spouse’s work record, but only if your new marriage lasts ten years or longer.

How Does Divorce Impact the Amount of Benefits You Receive Based on Your Own Work Record?

Divorce can also impact the amount of benefits you receive based on your own work record. The Social Security Administration (SSA) calculates your benefits based on your highest 35 years of earnings. If you have a lower earning history due to time spent out of the workforce caring for your children or home, a divorce can reduce the amount of benefits you receive.

Can You Receive Benefits Based on Your Ex-Spouse’s Work Record and Your Own Work Record?

It is possible to receive benefits based on both your ex-spouse’s work record and your own work record. However, the SSA will only pay the highest benefit available to you. For example, if you are eligible for benefits based on your ex-spouse’s work record, but your own benefit amount is higher, you will receive the higher amount.

Divorce can have a significant impact on your Social Security benefits. It is important to understand how divorce can affect your eligibility for benefits and the amount of benefits you receive. If you have questions about your Social Security benefits and how a divorce may impact them, it is recommended that you speak with a financial advisor or a representative from the Social Security Administration.