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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Christopher C.
Just talked to a friend,he told me that he is still working full time(he is 62) His wife is collecting SS.There is a program that as long as he works full time his wife gets a check on top of her regular SS payment.Can you explain?
Vonda V.
Hi Christopher, thank you for your question. It’s hard to say but it sounds like she is collecting Social Security retirement benefits on her own record. The Benefits Planner: Retirement provides detailed information about Social Security retirement benefits.
Debra
There are no incentives to work after retirement at 66. Why would this be. Seems to me government is doing an injustice to the aged workers and discouraging others just simply not to return to work force, costing the government tax dollars.
Vonda V.
Hi Debra. Generally, if you continue to work while receiving retirement benefits, your monthly benefit amount may increase. As long as you continue to work and receive benefits, we will check your record every year to see whether the additional earnings will increase your monthly benefit. If there is an increase, we will send you a letter telling you of your new benefit amount. You can call our toll free number at 1-800-772-1213 for further assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks!
jean
Can I collect social security using my husbands account and let mine grow and collect on mine at a later date?
Ann C.
Hi, Jean. Thank you for your question. To qualify for spouse’s benefits, your husband must be receiving retirement or disability benefits. Also, when you qualify for Social Security benefits on your own record, we pay that amount first. But if you also qualify for a higher amount as a spouse, you’ll get a combination of benefits that equals that higher amount. Visit our Benefits Planner: Benefits For You As A Spouse for more information. We hope this helps.
Larry
I have a general question—
Is it a typical practice for banks to hold every monthly check for 2-5 days, depending on weekends and holidays, past the recipient’s date of birth?? If so, why?? My check isn’t available for access for several days after it is deposited. Again, why is this?
Ann C.
We’re sorry to hear about the issues you are experiencing, Larry. We can only advise you in regards to Social Security programs and benefits. For questions regarding access to your personal funds at your bank, you’ll need to continue working with your financial institution. Thanks!
Kenneth B.
I was medically retired in 2005 at age 54. I’ve been receiving the same amount ever of SSI since with normal increases. Should my SSI increase after age 65 substantially? Or can I get it to increase somehow?
Ann C.
Hi, Kenneth. Thanks for your questions. We apologize, but your questions are a bit more complex than we can address in this forum. We ask that members in our Blog community continue to work with their local office on specific questions about their benefit amount. You can also call our toll free number at 1-800-772-1213 (TTY 1-800-325-0778). Representatives are available Monday through Friday between 7:00 a.m. and 7:00 p.m. Generally, you’ll have a shorter wait time if you call later in the week. We hope this helps!
Kenneth F.
My accountant said that my wife may be eligible for 1/2 of my monthly benefit. We are both 73. Can you help me find out if this is possible?
Kenneth F.
My accountant said that my wife may be eligible to receive 1/2 of my monthly benefit. We are both 73. Can you let me know if this is possible?
Ann C.
Thank you for your question, Kenneth. If your wife qualifies for Social Security benefits on her own record, we pay that amount first. But if she also qualifies for a higher amount as a spouse later on, she’ll get a combination of benefits that equals that higher amount. Visit our Retirement Planner: Benefits For You As A Spouse for more information. For further questions about your wife’s specific case, she can contact us at 1-800-772-1213, Monday through Friday, between 7:00 a.m. and 7:00 p.m. for assistance. We hope this helps.
Dianne J.
I have been receiving social security benefits from my husbands account. Now that I am 70, I would like to apply for social security under my own social security account.
How do I do that?
Ann C.
Hi, Dianne. You will need to contact us at 1-800-772-1213, Monday through Friday, between 7 a.m. and 7 p.m. to set up an appointment to file on your own record. You can also contact your local Social Security office. Thanks!
Janice W.
I just started collecting social security and I have been asked to continue working. Can I pay it back and what I have received so I can continue to add 8% / year and collect in the future?
Ann C.
Hi, Janice. Great question! If you change your mind, you may be able to withdraw your Social Security claim and apply again at a future date. However, you must do this within 12 months after the date you originally began receiving benefits. Keep in mind that there are some things you need to know about what will happen if you withdraw your application. Read the details on our Benefits Planner: If You Change Your Mind web page. Hope this helps!
RONALD S.
So my ss benefit will not increase even though a ss deduction from my wages is being taken? My yearly wages will never exceed any years wages prior to my retirement. Just another example of the small guy getting the short end of the stick. The rich get the advantage of the way this is set up as I am paying for their increased benefit.. Talk about being unfair!