How You Can Grow Your Social Security Benefits Beyond Retirement Age
Reading Time: 2 MinutesLast Updated: November 3, 2023
For more and more Americans, reaching retirement age no longer means the end of an active working life. Many people are choosing to work past the age of 65, according to the Department of Labor’s Bureau of Labor Statistics.
If you’re willing and able, maintaining gainful employment later in life could go a long way toward ensuring a secure future for you and your family. Besides providing you with additional income to pay your bills, extending your employment or working for yourself could boost your lifetime Social Security benefits.
Here’s how:
Whether you’re still working or not, waiting to claim your Social Security retirement benefits could grow them significantly. Through delayed retirement credits, your monthly benefit amount increases for each year you wait between your full retirement age and 70. Full retirement age is between 65 and 67, depending on when you were born. To learn more about delayed retirement credits, please visit our Retirement Benefits page.
You get credits on your earnings record for each year of additional work income. Once you start receiving retirement benefits, we’ll automatically review your earnings record each year to determine if you’re entitled to an adjustment. When we calculate your retirement benefit amount, we use your best 35 years of earnings. We’ll increase your benefit amount if your new year of earnings is higher than one of the years we used to calculate your initial benefit amount. To see how we calculate your benefits, see our publication, Your Retirement Benefit: How It’s Figured.
An increased benefit amount for yourself could mean more support for your family, too, through Social Security spousal benefits, child benefits, and survivor benefits.
We also encourage you to set up your own online my Social Security account so you can verify your lifetime earnings record, check the status of an application for benefits, and manage them after you’re receiving them. You can create your personal my Social Security account today.
Social Security is committed to helping you prepare for a secure today and tomorrow for you, your family, and future family. You can access all of our retirement resources on our Retirement Benefits page.
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Tags: my Social Security, my Social Security account, retirement, retirement benefits, Social Security benefits, SSA, survivors benefits
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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Tim G.
There are upper limits on W-2 income that is subject to Social Security and Medicare withholding. If an employee whose W-2 wages exceed those limits, is that employee still subject to Self-Employment Tax on other Earned Income from Self-Employment that the employee may earn in the same tax year? If so, what is the rationale for taxing the combined earnings that exceed the upper limits for Wages?
Ray F.
Hello Tim, your question is an income tax question, and you will need to contact the Internal Revenue Service (IRS). Their toll-free number is 1-800-829-1040. Thanks!
Sheryl B.
I started drawing Socila Security July 1 2017. Can I start working again, stop my benefits and start them back up at a higher rate later?
Ray F.
Hi Sheryl. Yes, you can request suspension of your benefits in order to earn delayed retirement credits. See our Frequently Asked Questions web page for more on this topic.
You can work while you receive Social Security retirement benefits, and you may be able to receive some or all of your benefits. See “How We Deduct Earnings From Benefits” to learn more. We hope this information helps!
Theresa G.
This is all BS!! I am still working at age 74 & of course it is part-time as I am a cancer survivor so of course my earnings will not exceed my highest year of income in 35 years! Social Security is still taken out of my paychecks but I never get an increase unless you want to count the big increase we got in January that went to increase in Medicare Premiums. There was a time that I wasn’t this bitter, still believing in the American Way. No longer!! So stop clogging up my e-mail with this garbage!
Berenice S.
cannot log into my account. Fill in the form online to change user and password, just get a reply that I’ll get a letter in the mail, have done this twice now and nothing in the mail (snail), this goes back months. Help!!
Ray F.
If you are unable to create an account or encounter a problem with your my Social Security account, you may:
•Call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m. At the voice prompt, say “helpdesk”; or
•Contact your local Social Security office. Thanks!
Francis
I turn 65 in October, when should I apply to receive my first payment?
Ray F.
Thank you for your question, Francis. Our system is set up to take applications three months in advance. You can apply for your benefits online. Remember that benefits are paid the month after they are due. So, for instance, if you want your benefits to begin with the month of October, you will receive your first benefit payment in November. Please visit our Social Security Retirement Planner for more information.
Maria P.
I live off my Social Security, I worked hard , I earn it, but your institution of Medicare is stealing $400 a month because I had to use my savings in the last 2 years to help a family member in dier need
I see no alternative but to cancel part B and prescriptions. YHWH is my protection, I should have know you people care less. Maybe,if I become an illegal you will see …
Curtis Z.
i started receiving s/s at 66-1/2 years but have continued working and presently i am 71+ years old and plan on continuing to work 4 or 5 years if my health remains good
will my s/s payment be adjusted if my yearly wage is more than some of my past years
Ray F.
Thank you for your question, Curtis. Generally, if you continue to work while receiving retirement benefits, your monthly benefit amount could increase.
If your earnings for the prior year are higher than any of the years that were used to compute your retirement benefit, we will recalculate your benefit amount. If an increase is due, a new monthly benefit amount is established on your record automatically.
You may also contact us and request a review of your records. You can call our toll-free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. You will generally have a shorter wait time if you call later in the week. Hope this helps!
David H.
How is a ‘Couples. Rate’ detetmined?
Paul L.
I continue to work and am 72 years old now. I continue to pay in to social security, but have not seen a monthly increase in years. Am I missing something?
Ray F.
Thank you for your question, Paul. Generally, if you continue to work while receiving retirement benefits, your monthly benefit amount could increase.
If your earnings for the prior year are higher than any of the years that were used to compute your retirement benefit, we will recalculate your benefit amount. If an increase is due, a new monthly benefit amount is established on your record automatically.
You may also contact us and request a review of your records. You can call our toll-free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. You will generally have a shorter wait time if you call later in the week. Hope this helps!
Mary W.
People drawing SS should not have it taken from their check when they are employed-the little amount a person gains from working to their SS is no where close to the amount they have to pay in each week!!