No. Each spouse can claim their own retirement benefit based solely on their individual earnings history. You can both collect your full amounts at the same time. However, your spouse’s earnings could affect the overall amount you get from Social Security, if you receive spousal benefits.

Can you collect two pensions and Social Security?

There is nothing that precludes you from getting both a pension and Social Security benefits. Your benefits might be cut under a rule called the Windfall Elimination Provision (WEP). WEP applies primarily to federal workers hired before 1984 and employees of some state and local government agencies.

When does social security start to look like a pension?

Although many seniors receive Social Security benefits in retirement, the Social Security system isn’t considered a pension. It may look like a pension because upon retirement (if you have paid into the system during your working years), you are eligible to receive monthly benefits. These benefits can begin at the age of 62. 8 

Can you get a pension and Social Security at the same time?

There is nothing that precludes you from getting both a pension and Social Security benefits. But there are some types of pensions that can reduce Social Security payments.

What happens if you have both social security and Canada Pension Plan?

If you receive both Social Security and Canada Pension Plan, your Social Security benefits will be reduced, based on a US law called the Windfall Elimination Provision. Canada’s Old Age Security (OAS) does not impact your US Social Security benefits.

How is a pension plan different from a social security plan?

A pension plan is a retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker’s future benefit. An integrated pension plan uses a participant’s Social Security payments to calculate the total pension benefit that they receive.