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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Peggy s.
I retired at 62 and am working part time. My earnings will exceed the $17,400 limit. I understand that SSA recoups $1 for every $2 earned in excess of the $17,400 limit. When will that be recouped? 2019? Will they take a portion of my monthly check or the whole amount until repaid? Thank you. Peggy Smith
Cecilia E.
I’m contacting you to find out if I’ll be getting credit for each year after I signed up for my social security.if you can check and advise me what I have to do. I plan on working till the end of next year,if God permits.I appreciate your time .Thank you
John a.
If you are receiving social security now and start another job. Who is paying in social security can you ask for a recalculTion of your benifits
R.F.
Hello John. Each year, we review the records for all working Social Security recipients to see if additional earnings may increase monthly benefits. If your earnings for the prior year are higher than one of the years we 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. See “Getting Benefits While Working” for more information. Thanks!
james h.
can you tell how my COLA was figured for my account specifically, I cannot get the local office to respond
Stephen M.
I started taking my SS benefits in July 2014 when I was 65, but for 2014, 2015 and 2016 made about $20,000/yr and in 2017 earned about $12,000. can I get Social Security to credit me for these earnings if I stop getting my SS benefits? How can I do this?
BRYAN E.
Thank You for this very informative data as it is very useful. What I would like to ask is; At what age should I reach it where OASDI/EE taxes will no longer be deducted should I continue to work? Than You
Bryan Burks
Victor J.
I screwed up retiring, at 62 SS SET A monthly BENEFIT OF 900.00 dollars. I was forced to retire cause of diebetes.., how do I increase that I’m now 66.??
Victor S.
I am still working. I am 79 years of age. Up until 2014 I was getting adjustment increases to my Soc. Sec. monthly payment. I haven’t received any since then. Last Aug. 2017 I wrote a letter to Soc. Sec. in Poughkeepsie and about two months ago I called them and asked why I haven’t heard anything. They told me my letter was sent to Baltimore, MD and I should be hearing soon. I have not heard anything yet about any adjustment. I would like to know why I haven’t heard from Soc. Sec. and I want to know why I have not gotten an increase in my Soc. Sec. My earned income for 2014 to 2016 ranged from $12,013 to 13,983. This is what it was approx. for the years prior to 2014. Please have someone call me or send a letter.
Victor Stern
38 Slate Hill Dr.
Poughkeepsie, NY 12603
845-462-6495
Arlene L.
I think is it very unfair to continue to take social security out of paychecks if you are collecting social security but still working. Once a person is old enough to receive social security, they should not have it taken out of their pay if they decide to go back to work.
Diana V.
If I am still employed at the age of 70 (I have taken my SS benefits at age 66) will I be getting additional social security benefits?
Thank You