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Social Security retirement benefits while working

You can work while you receive Social Security retirement (or survivors) benefits. When you do, it could mean a higher benefit for you in the future. Higher benefits can be important to you later in life and increase the future benefit amounts your family and your survivors could receive.

While you are working, your earnings will reduce your benefit amount only until you reach your full retirement age.

We use a formula to determine how much your benefit must be reduced:

  • If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit.

    For 2007 that limit is $12,960.

  • In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit, but we only count earnings before the month you reach your full retirement age.

    If you will reach full retirement age in 2007, the limit on your earnings for the months before full retirement age is $34,440.
    (If you were born in 1942, your full retirement age is 65 years and 10 months.)

  • Starting with the month you reach full retirement age, you can get your benefits with no limit on your earnings.

If you are not already receiving benefits, be sure to contact us at the beginning of the year you reach full retirement age. Even if you are still working, you may be able to receive some or all of your benefits for the months before you reach full retirement age.

Go to the next page to read examples of how we deduct earnings from benefits.
 

Source: http://www.socialsecurity.gov/retire2/agereduction.htm

Social Security Questions and answers
In the news: Read Carols comments in this BankRate.com Social Security article


Thank you so much. The amount of infomation you provided on our call went a long way in helping to resolve the issues I had with the social security rep I was working with.
Tom F. 04-23-2017


Thank you so much. You provide a fantastic service and I really appreciate all your help. The next time I have a question regarding Social Security I will go to you first and save myself a lot of time.
Carol J. 04-11-2017


Thanks for the straight forward answers. It would have save a lot of time if I knew about this site months ago.
Emily D. 03-31-2017

Great talking with you and thanks for the help. Things now seem to be going in the right direction.
Chris H. 03-31-2017

Hello, thank you so much for responding to my inquiry, I really did not expect to get an answer from you so quickly. Brought the information you sent to my social security office an the issue, i have been dealing with for months, was resolved in an hour.
Veda M. 03-11-2017

Thank you so much for the reply.
Tom C. 02-09-2017

Thank you so much for returning my email so quickly.
Laverne J. 01-30-2017

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