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Social Security
Questions and Answers:
Question:
What is the earliest age I can begin receiving Social
Security retirement benefits?
Answer:
The earliest age you can begin receiving Social Security
retirement benefits is age 62. If you decide to receive
benefits before your full retirement age, which for most
people is age 66 or 67, you will receive a reduced benefit.
Keep in mind you will not be able to receive Medicare
coverage until age 65, even if you decide to retire at an
earlier age. For more information, go to
www.socialsecurity.gov/retire.
Question:
I have two minor children at home and I plan to retire
this fall. Will my children be eligible for monthly
Social Security benefits after I retire?
Answer:
Monthly Social Security payments may be made to your
children if:
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They are unmarried and under age 18;
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Age 18 or 19 and still in high school; or
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Age 18 or older, became disabled before age 22, and
continue to be disabled.
Children who may qualify include a biological child, adopted
child, or dependent stepchild. (In some cases, your
grandchild also could be eligible for benefits on your
record if you are supporting them.) For more information,
see our online publication, Benefits For Children, at
www.socialsecurity.gov/pubs.
Question:
I'm retiring early, at age 62, and I receive investment
income from a rental property I own. Does investment income
count as earnings?
Answer:
No. We count only the wages you earn from a job or your net
profit if you're self-employed. Non-work income such as
annuities, investment income, interest, capital gains, and
other government benefits are not counted and will not
affect your Social Security benefits. Most pensions will not
affect your benefits. However, your benefit may be affected
by government pensions earned through work on which you did
not pay Social Security tax. You can retire online at
www.socialsecurity.gov.
For more information, call us toll-free at 1-800-772-1213
(TTY 1-800-325-0778).
Question:
What is the benefit amount
a spouse may be entitled to receive?
Answer:
If you are eligible for
both your own retirement benefit and for benefits as a
spouse, we will always pay you benefits based on your record
first. If your benefit as a spouse is higher than your
retirement benefit, you will receive a combination of
benefits equaling the higher spouse's benefits. A spouse
generally receives one-half of the retired worker's full
benefit unless the spouse begins collecting benefits before
full retirement age. If the spouse begins collecting
benefits before full retirement age, the amount of the
spouse's benefit is reduced by a percentage based on the
number of months before he or she reaches full retirement
age. For example, based on the full retirement age of 66, if
a spouse begins collecting benefits:
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At age 65, the benefit amount would be about 46 percent of
the retired worker's full benefit;
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At age 64, it would be about 42 percent;
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At age 63, 37.5 percent; and
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At age 62, 35 percent.
However, if a spouse is taking care of
a child who is either under age 16 or disabled and receives
Social Security benefits on the same record, a spouse will
get full benefits, regardless of age. Learn more by reading
our Retirement publication at
www.socialsecurity.gov/pubs/10035.html.
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