5 Little-Known Social Security Benefits Most Retirees Never Claim

Over 75 million Americans rely on Social Security during retirement. Most of them understand the key facts about receiving benefits, especially that benefits are lower when you claim early and higher when you wait at least until your full retirement age.

However, Social Security is much more complicated than it appears. Many retirees miss out on benefits simply because they don't know they exist. Here are five relatively little-known benefits that many, if not most, retirees never claim.

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1. Survivor benefits for divorced spouses

Most retirees are probably at least somewhat familiar with Social Security survivor benefits. They know that when one spouse passes away, the surviving spouse could be eligible to receive up to 100% of their deceased spouse's benefit.

However, many people don't realize that divorced spouses may also be eligible for Social Security survivor benefits. There are a few eligibility requirements, including:

• You must have been married for at least 10 years.
• You must be unmarried at the time of your ex-spouse's death.
• You must be at least 60 years old.

2. Child care benefit

Are you retired but still providing care for a disabled child or a minor child? You could qualify for additional child care benefits.

While the child's benefits continue until they reach age 18, your benefits as a caretaker will end once they turn 16. If the child has a qualifying disability, you can continue to receive benefits even after they reach adulthood.

3. SSI supplemental payments

The Social Security program provides three primary types of benefits: retirement, disability, and Supplemental Security Income (SSI). The last type of benefit is intended to help older adults and individuals with disabilities who have limited income and resources.

Many retirees who receive Social Security retirement benefits don't realize they may also qualify for SSI benefits. You must have both low income (including your retirement benefits) and minimal financial resources (such as money in bank accounts). Check with your local Social Security Administration (SSA) office to see if you qualify.

4. Special minimum benefit

On a somewhat similar note, retirees could also be eligible for a higher Social Security benefit if they had low earnings throughout much of their career. The special minimum benefit was established in 1972 to help long-term low earners.

Many individuals who earned low wages for years could receive a higher benefit than they would under the standard benefits formula. If you think you might qualify, contact SSA and ask for your benefits to be calculated under both the standard formula and the special minimum benefit to find out which is higher.

5. Earnings test adjustment

Individuals who retire before their full retirement age and continue to work will have $1 in Social Security retirement benefits withheld for every $2 they earn above $24,480. If they work during the year they reach their full retirement age, Social Security will deduct $1 in benefits for every $3 earned above $65,160.

The good news is that the reduced benefits aren't lost forever. SSA should recalculate your monthly benefit once you reach your full retirement age to credit you for the months when benefits were withheld.

This recalculation is automatic. However, many retirees never verify that they receive the correct amount after they reach their full retirement age.

A quick review could boost your benefits.

There's a common threat across all five of these Social Security benefits: You must take action. SSA pays out more than $1 trillion every year, but it doesn't proactively notify individuals about every benefit they may qualify for.

Check your My Social Security account at SSA.gov. Contact your local SSA office or call SSA at 1-800-772-1213. Ask about any of the five provisions you think you may be eligible for. A quick review could boost your benefits.

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