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Couples Receiving Social Security Benefits Can Get $3,716 – Here’s How

Couples Receiving Social Security Benefits Can Get $3,716 – Here’s How

Sandy Staggs

Social Security benefits provide crucial financial support for millions of Americans, especially retirees. For couples where both partners are receiving Social Security benefits, there is good news: they may be eligible for a combined monthly payment of up to $3,716. Here’s what couples need to know to maximize their Social Security benefits and how this payment amount is determined.

How the $3,716 Payment Is Calculated

The $3,716 figure represents the total monthly amount that two individuals who are both eligible for Social Security can receive based on the average combined payment. To break it down, here’s how it works:

  • Individual Social Security Benefits: The amount of Social Security benefits each person receives depends on their earnings history, the age they claim benefits, and whether they wait until their full retirement age (FRA) to begin receiving payments. As of 2024, the average monthly benefit for retired workers is about $1,900.
  • Couples’ Combined Benefits: If both individuals in a couple are receiving Social Security benefits, their total monthly payment can be around $3,716, assuming each receives a benefit of approximately $1,858 (the approximate average for a couple, based on individual benefits). This amount could vary depending on factors like earnings history, claiming age, and adjustments for inflation.

Maximizing Social Security Payments for Couples

To receive the maximum benefit, couples should consider several strategies that can increase their combined Social Security payments.

1. Delay Claiming Benefits

One of the most important strategies for increasing Social Security benefits is delaying the start of payments. For each year you wait to claim Social Security after your full retirement age (FRA), your monthly benefits will increase by approximately 8% annually until you reach age 70.

  • Example: If both partners in a couple delay claiming benefits until age 70, their monthly payments will be significantly higher than if they began claiming at FRA (typically age 67). This can result in a considerable increase in the total monthly payment, potentially pushing the combined amount closer to $3,716 or even more.
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2. Maximize Spousal Benefits

For married couples, Social Security provides an option to claim spousal benefits based on the other partner’s earnings. A spouse can claim up to 50% of the other partner’s full retirement age benefit, which can be especially advantageous if one spouse has a higher lifetime earnings record.

  • How It Works: If one partner has a lower lifetime earnings record, they may benefit from claiming spousal benefits rather than their own. This allows the couple to receive higher combined payments, which can contribute to reaching or exceeding the $3,716 figure.

3. Work Longer and Earn More

Another strategy for increasing Social Security benefits is to work longer, especially if you’re replacing lower-earning years in your 35-year work history. Social Security calculates benefits based on your highest-earning 35 years. By continuing to work and increase your earnings, you may boost your Social Security payments.

  • Why It Matters: If you have fewer than 35 years of work, the SSA fills in the gaps with zeroes, which could lower your benefits. Working longer and earning higher wages can help eliminate low-income years and increase your benefit amount.

4. Survivor Benefits

In the event of the death of one partner, the surviving spouse can receive the higher of the two Social Security benefits. This survivor benefit ensures that the surviving spouse is not left with a significantly reduced income after the death of their spouse.

  • How It Works: If a couple is receiving $3,716 in combined benefits and one spouse passes away, the surviving spouse can continue receiving the higher of the two payments. This can be a crucial source of financial stability in retirement.
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Other Factors Affecting Social Security Payments

Several other factors can influence the amount of Social Security benefits a couple receives:

  • Cost-of-Living Adjustments (COLA): Social Security benefits are adjusted annually for inflation, helping to maintain purchasing power as the cost of living increases. This COLA increase can affect the combined payment couples receive.
  • Taxes: Social Security benefits are subject to federal income tax if your combined income exceeds a certain threshold. Couples may have to pay taxes on a portion of their benefits depending on their overall income level.

Conclusion

Couples who are both receiving Social Security benefits in the United States can expect a combined monthly payment that could reach as high as $3,716, depending on their individual earnings histories and other factors. By delaying the start of their benefits, maximizing spousal benefits, working longer, and understanding survivor benefits, couples can ensure they are making the most of their Social Security payments. These strategies can help provide greater financial security throughout retirement.

For more information on Social Security benefits and how they are calculated, visit the Social Security Administration website.

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