There is a lot that happens after a spouse passes. But many are not aware of the financial hardships that accompany the surviving spouse as their household benefits are reduced.
The Truth About Survivor Benefits
Survivor benefits do not allow the surviving spouse to continue receiving the two benefit payments the household previously received. Rather, their household benefits are reduced.
If the surviving spouse is also a Social Security claimant, their monthly payment from Social Security will either remain as their benefit payments or change to the survivor benefits offered.
Ultimately, Social Security will pay the surviving spouse the higher of the two options. However, this still means that the surviving spouse is left without the additional income the previous spouse collected.
Why This Is A Problem
Many don’t realize just how much financial responsibility senior citizens have nowadays. This uptake in financial responsibility also means that individuals are reliant on their income.
Without the additional benefit payments, the surviving spouse is left with a choice—rearrange their life to earn more and make up for the lost income or rearrange their life to adjust to the smaller monthly income. And when life has already been uprooted and disturbed by their spouse’s passing, this additional adjustment can be extremely difficult.
How To Help Create Change
More often than not, Social Security benefits provide a large portion of an individual’s income during retirement. However, individuals are constantly met with red tape, preventing them from acquiring their entire benefit amount. This red tape comes in various forms, but each time it threatens the very financial security a retiree has.
This insecurity is not acceptable; that is why Senior Security Alliance was created. Our grassroots program is dedicated to helping senior citizens achieve more financial security and respect. Find out more about our work and how we are helping senior citizens nationwide by visiting our page here.
