The Social Security Administration paid about $1.5 trillion in benefits in 2024, but not all of this was to retired workers. Americans can receive other types of Social Security benefits, too, like family and survivor benefits. Some of these benefits can be combined while others can only be used on their own. What you make in wages can affect many benefit types, and unearned income from investments or annuities can affect needs-based benefits. Read on to learn about payments and eligibility for the different types of Social Security benefits.

Comparing Types of Social Security Benefits

Here's a high-level comparison of the major types of Social Security benefits:

Retirement Benefits

Social Security retirement benefits are what most people think of when they hear the term Social Security. This benefit pays income to retirees who worked at least 10 years and paid into the Social Security program. The average Social Security benefit is $1,920 per month in 2024. 

• Eligibility: Workers who pay Social Security taxes can earn up to four Social Security credits per year. People who earn at least 40 credits (typically by working for 10 years) qualify for retirement benefits. You can claim a lower amount of benefits at age 62 or claim full Social Security benefits at your full retirement age (FRA). Delaying payments until age 70 increases the amount even more. The FRA for people born in 1967 and later is 67, though people born earlier have a slightly earlier retirement age.
• How income affects benefits: Part-time work can reduce your earnings before you reach full retirement age if you make more than $22,320 per year (2024). Income from other sources like annuities, pensions, and investments doesn’t affect benefits.

Disability Benefits

Social Security Disability Insurance (SSDI) provides income if you become disabled and can no longer work. This benefit is designed to replace some of your working income, so it depends on your work history and disability status.

• Eligibility: You need a qualifying disability that prevents you from continuing work in your current job or doing any other type of gainful employment. The amount of work history required depends on your age—from about 1.5 years of work if you’re younger than 28 to about 9.5 years of work if you’re 60.
• How income affects benefits: If you make more than $1,550 per month in 2024 you’re disqualified from receiving SSDI. However, non-work income like investments and annuities don’t count toward this limit.

Survivor Benefits

Social Security survivor benefits help with the financial burden when a loved one passes on. This type of benefit provides monthly income for widows, widowers, children, and dependent parents of workers who pass away. Under a special rule, Social Security may pay benefits to children and the surviving spouse who is caring for the children. This applies if the worker has worked for at least one and one-half years in the three years just before their death.

Spouses can receive between 71.5% and 100% of the deceased’s retirement benefit depending on when they apply. The percentage increases between the age of 60 and full retirement age. Surviving spouses who have reached full retirement age will typically receive 100% of the deceased worker's benefit.

A surviving spouse at any age who is still caring for a child(ren) under age 16 is eligible for 75% of the deceased worker's benefit. Children also generally get about 75% of the deceased’s benefit amount.

• Eligibility: Spouses are eligible if they are at least 60 years old and were married at least nine months before the worker died. Ex-spouses may be eligible if they were married for at least 10 years. However, they don't have to meet the 10-year requirement if they care for your legal child(ren) under age 16, or have a qualifying disability. Unmarried children are eligible until age 17 (or 19 if attending high school) or at any age if they became disabled before age 21.
• How income affects benefits: Earning wages can reduce your survivor benefits if you make over $22,320 and are younger than full retirement age. Once you reach full retirement age, you get full survivor benefits.

Spousal Benefits

Spousal Social Security benefits, also known as family benefits, provide income to family members of people eligible for retirement or disability benefits. These benefits apply while the retiree is alive. The benefit is up to 50% of whatever the family member is entitled to at their full retirement age or through disability benefits. A person who is 65 or older may also get Medicare based on their spouse’s work history.

• Eligibility: Spouses who have been married for at least a year can apply for family benefits at age 62. Spouses are also eligible if they’re caring for a child under 16 years old or a disabled child of any age. Ex-spouses are eligible if they were married for at least 10 years. Unmarried children are eligible until age 17 (or 19 if attending high school) or at any age if they became disabled before 21.
• How income affects benefits: Earning over $22,320 per year can reduce benefits or disqualify you until you reach your full retirement age. As with most other benefits, non-work income like annuities or investments doesn’t count toward this.

Supplemental Security Income

Supplemental Security Income (SSI) is one benefit that isn't tied to the work history of the recipient or a family member. This benefit is designed to provide income for people who have limited work prospects and resources and are either over 65 years old or have a disability. The maximum SSI payment is $943 per month for a single person and $1,415 for a couple in 2024.

• Eligibility: To get SSI, you can’t have more than $2,000 in the bank (or $3,000 for a couple). You also have to be at least 65 years old or have a disability that affects your ability to work for a year or more.
• How income affects benefits: You must earn less than $1,971 per month from a job or $963 from non-work sources, including investments and annuities, to qualify. For every $2 you earn from wages, your SSI decreases by about $1.

Can You Combine Social Security Benefits?

You might be eligible for multiple benefits depending on your situation. However, there are rules about which benefits can be combined and which can't.

• Retirement and SSI: Depending on your income, you may qualify for both retirement benefits and SSI. You can receive SSI as long as your retirement benefit is less than $963 per month.
• Retirement and survivor: If you are already receiving retirement benefits and your spouse dies, you may receive a higher amount that includes your retirement and survivor benefits.
• Retirement and spousal: These benefits cannot be combined. Assuming you qualify for both, you will receive whichever benefit is higher.
• Disability and SSI: You can receive concurrent disability and SSI benefits if you qualify for both. Your disability benefit must be less than $963 per month to receive an SSI benefit.
• Disability and retirement: Disability benefits convert to retirement benefits once you reach full retirement age. This means you can’t have both disability and retirement benefits at the same time. The benefit amount you receive stays the same. 

Plan Your Retirement Income

If you plan to take retirement benefits early, any work you do before full retirement age can lower your benefits. However, there are other ways you can maximize retirement income besides a salary or wages. 

Annuities, for example, provide guaranteed retirement income according to the terms of a contract. You can often receive annuity income without affecting early retirement benefits. Or, you can use income from an annuity to supplement your finances without IRS penalties after age 59 ½ if you want to wait until age 70 to take the maximum Social Security amount. Whatever your plan is, we recommend reaching out to a licensed annuity agent to see what options are best for you.

Note: All guarantees are subject to the claims-paying ability of the insurer.

Note: This article is for informational purposes only and should not be construed as financial or tax advice. All content regarding Social Security is based on Annuity.com’s general understanding of current laws and regulations. For detailed information and guidance, reach out to a licensed CPA, attorney, or other qualified professional.