Minor children of retirees receiving Social Security may qualify for up to half a parent’s benefit; those whose deceased parent received benefits may get up to 75%. Payments end at 16, or at 18 for a child with a disability, the agency says.
A family-wide “maximum family payment” generally caps benefits at 150% to 180% of the parent’s full benefit. If the total exceeds that limit, children’s payments are reduced proportionately; the retiree’s own benefit is not reduced, according to the Social Security Administration.
The benefit has existed since 1939. The number of people 65 and older with children has more than tripled since 2000, the Wall Street Journal reported. Social Security trustees project a key funding source will be depleted by 2032; if that happens, benefit amounts could fall by as much as 22%.
