What are different Social Security benefits? Do you want to know if you’re eligible to receive Social Security benefits? This guide focuses on the Social Security benefits Americans can apply for and receive.
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What Are Social Security Benefits?
Social Security benefits are partial incomes for retirees and disabled individuals. It may also cover their spouses, children, and survivors.
The amount of everyone’s Social Security benefit varies. The factors that affect the benefit amount include your:
- Earnings history
- Age when you start to claim Social Security
- The year you’re born
Other factors like Medicare premiums and income tax withholding can also affect how much you’ll receive. As of January 2021, the average Social Security benefit is $1,543 per month.
What Are the Social Security Benefit Types?
The three Social Security benefit types are:
- Retirement benefits
- Disability benefits
- Survivor benefits
Retirement Benefits
Those who work under “covered employment” for a period are eligible for retirement benefits. Typically, you need to work ten years total at a nongovernmental job. Once you reach 62 years, you can start receiving retirement benefits or wait until the full retirement age of 66-67 years.
Disability Benefits
If you have a disability that the Social Security program includes in its medical guidelines, you can receive benefits. You can collect benefits equal to how much your full retirement benefits would be, even though you haven’t reached retirement age. The important thing is you meet the work requirements.
As a disabled worker, your spouse and minor or disabled children may also receive benefits based on your earnings record.
Survivor Benefits
This benefit is for the surviving spouse of a worker who qualified for Social Security retirement benefits. Like the disability benefits, your minor or disabled children may also be entitled to benefits based on the deceased’s earnings record.
Types of Americans Who Aren’t Eligible for Social Security
Most American employees and taxpayers are eligible for Social Security retirement benefits. However, some rare cases can keep you from receiving yours or even becoming eligible for Social Security. These people include:
- Workers who die before 62 years old
- Specific divorced spouses (full-time homemakers or stay-at-home parents)
- US citizens who retire in certain foreign countries (e.g., Cuba, Belarus, and Kazakhstan)
- Government and railroad employees
- Certain non-citizens who don’t have enough US credits
- Workers with too few Social Security credits
- Immigrants over 65 years old
- Self-employed tax evaders
Some of the abovementioned have obvious reasons for not being eligible for Social Security benefits.
Federal government employees hired before 1984 will receive benefits from the Civil Services Retirement System (CSRS). They don’t have Social Security taxes deducted from their paychecks and aren’t eligible to receive Social Security benefits.
Social Security doesn’t cover railroad employees, as well. Instead, the Railroad Retirement Board (RRB) covers their retirement benefits.
Conclusion
Now, we hope you have a better understanding of the various Social Security benefits in the US. You also now know if you or your spouse isn’t eligible to receive Social Security benefits.
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