Here's How Social Security Is Shortchanging Some Beneficiaries
Social Security doesn't just provide retirement benefits to those who earn enough work credits in their lifetime to qualify for them; it also provides benefits to the people they leave behind when they pass. But a new report released by the Social Security Administration's Office of the Inspector General reveals that over 15,000 surviving spouses are getting shortchanged on the benefit front. The reason? They're still collecting benefits on their own work records despite the fact that they're entitled to higher benefits as .
If you're married to someone who's collecting Social Security and your spouse passes away, you're entitled to 100% of your deceased spouse's monthly benefit once you reach full retirement age. You can claim survivor benefits starting at age 60, which is earlier than the minimum age to collect Social Security benefits on your own work record, but if you do, you'll reduce the amount you get to collect each month.
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Source Fool.com
