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An Overview of Social Security Benefits

By Jinky Mesias

Social Security members who were born before the year 1938 are qualified to full social security retirement benefits which will be given when they reach the age of 65. However, for those who just applied for their Social Security in the year 2003, the required age for full retirement benefits will increase to 67.

Social Security Benefits

Social Security members who were born before the year 1938 are qualified to full social security retirement benefits which will be given when they reach the age of 65. However, for those who just applied for their Social Security in the year 2003, the required age for full retirement benefits will increase to 67. The increase to be implemented is gradual just take for example those members born in 1940 they may be able to get their full retirement benefits when they attained the age of 65 and 6 months. For those members born in 1950 they can get their full retirement benefits at the age of 66 and for those born in 1960 onwards, their full retirement benefits will be given to them at the age of 67.

Social Security also offers early retirement benefits however at a reduced retirement amount. The early retirement is available at age 62 of members. The disadvantage of taking an early retirement benefit is that the monthly benefit is permanently reduced. On the contrary, members who take the early retirement option will be able to receive their benefits for a much longer period of time.

For those who tend to work beyond the full retirement option, the extra income they earn during those extra working years will increase their average income and will likewise increase their monthly retirement benefits. And another advantage for not applying for early retirement is that there are no earning limit for people ages 65 or older.

Social Security Disability Benefits

In order to qualify for social security benefits, members applying must be suffering from a physical or mental impairment that is keeping him or her from doing any important work for at least a year. Another consideration is that the disability condition is anticipated to result in the death of the disabled member.

Disabled members are expected to file their disability claim the soonest time possible since disability claims really takes a long time to process. In most cases the monthly disability benefit if approved begins on the sixth month of the disability.

The Social Security Disability Benefits is reduced when members have other government disability benefits. The standard rule for the amount of disability payments that a member or his/her family is supposed to receive must not exceed 80% of the averaged earning before a member becomes disabled.

The Social Security Benefits is given until the member's condition improves and returns to work. However, if ever the member didn't recover from his or her disability the disability benefit continues as well as the Medicare benefit.

Social Security Benefits for Family Members

Families of Social Security members are also covered by Social Security Benefits. When members retires or became disabled their members also received their share of Social Security Benefits.

For spouse if he or she reaches the age of 62 or older receives a monthly benefit. Also for spouse who takes care of the member’s child under the age of 16 or takes care of a child who receives social security benefits entitles the spouse to receive social security benefits. Unmarried children under age 18 or under age 19 who is either a full-time student in elementary or secondary school may also be given social security benefits. And also a child of age 18 or older who is severely disabled is entitled to receive social security benefits.

Each of the family members may be able to receive up to 50% of the retirement or disability benefit however social security benefits are only limited up to 150% to 180% depending on the circumstances faced by the family. The benefit given to the social security member is not all affected or reduced by the amount of benefits given to his or her family. And even the benefits given to the ex-spouse with whom the social security member has been married for at least 10 years would have no effect or whatsoever on the benefit given to the member and to his or her other family.

Social Security Survivors Benefits

In the Social Security Survivors' Benefits, this is where accumulated credits are applied. For members who have accrued enough credits during their working years his or her family members are eligible for Social Security Survivors' Benefits.

The eligible family members include widows and widowers ages 62 and older, disabled widows or widowers ages 50 and up, widows and widowers caring for a child under 16 years of age and who is receiving Social Security Benefits, unmarried children under the age of 18 or under age 19 either a full time elementary student or secondary school, or age 18 or older but is severely disabled and lastly parents who are dependent entirely or not upon the social security member will also receive social security benefits.

In addition, the Social Security also provides survivor benefits for divorced widows and widowers after the death of their ex-spouse who is a social security member. The benefit given to them will be based upon the Social Security account of the deceased member.

About the Author

Jinky Mesias is a contributor for Social Security Disability Benefit Attorneys

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