For retirees considering remarriage, it’s important to know how saying “I do” again could impact your Social Security checks. Depending on the type of benefits you’re receiving, remarrying could either leave your payments untouched or cause a significant change.
Let’s break down what happens based on the different types of benefits:
If You Receive Retirement Benefits Based on Your Own Work Record
The good news is that if you’re collecting Social Security based on your own work history, remarrying won’t change a thing. You’ll continue receiving the same amount each month regardless of your marital status. This means that as long as your benefits are tied to your earnings, you’re in the clear.
If You Receive Spousal or Survivor Benefits
This is where things can get tricky. If you’re collecting spousal benefits based on your ex-spouse’s work record, remarrying typically means you’ll lose those benefits. Why? Because Social Security rules assume that by remarrying, you’re now relying on your new spouse’s financial support instead.
For example, if you were receiving half of your ex-spouse’s benefits, that payment will stop once you tie the knot again. However, there’s an exception to note: If you remarry after the age of 60 (or 50 if you’re disabled), you can still receive survivor benefits from your late spouse while being married to someone else.
What About Widow or Widower Benefits?
If you’re receiving benefits as a widow or widower, remarrying before 60 generally disqualifies you from continuing to collect those payments. But if you wait until after 60 to remarry, you’re free to continue receiving your survivor benefits while enjoying your new marriage.
Should You Consider the Financial Impact Before Remarrying?
Absolutely. Before walking down the aisle, it’s worth speaking to a Social Security representative or financial advisor to understand how your decision could affect your monthly income. Sometimes, the loss of spousal or survivor benefits may be significant, and it’s essential to know whether your new spouse’s income can help fill the gap.
Final Thoughts
Remarrying during retirement can be a joyful new chapter in life, but don’t let surprises with your Social Security benefits ruin the moment. Take the time to understand the rules and plan accordingly so that your finances stay secure as you start this exciting new journey.
