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Ask Lane Your Own Question
Category: Social Security
Satisfied Customers: 12459
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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I plan on retiring at 62 next year. I understand that my

Customer Question

I plan on retiring at 62 next year. I understand that my minor child age 5 will get 50% of my age 66 benefits. Is that 50% a hard figure that I can count on? Will SSA tell me now before I actually apply?
Submitted: 9 months ago.
Category: Social Security
Expert:  Lane replied 9 months ago.

Hi. My name’s Lane. … I can help here.

I have a Law degree with concentration in Tax , Estate & Corporate Law, … an MBA, with specialization in finance … a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Please bear with me a moment while I prepare your response

Expert:  Lane replied 9 months ago.

Yes, the dependent child benefit is equal to 50% of the unreduced benefit the parent would receive at full retirement age (i.e., their Primary Insurance Amount or PIA), which means even if the parent starts early (reducing their own benefit) the child’s benefit remains the same.


Also, Notably, a spouse who is under age 62 is also eligible for a spousal benefit under these rules, as long as the spouse is a parent caring for a qualifying child who is under the age of 16. Given this age threshold, it’s notable that the young spouse’s parent benefit will end earlier – by age 16 – than the dependent child’s own benefits, which lasts until 18.

Expert:  Lane replied 9 months ago.

Please Let me know if you have ANY questions, before rating me.

But if this HAS helped, and you don’t have more questions on this, … I would appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit")

Otherwise I won’t be compensated for the work here.

Thank you!