Three Common Ways Your Social Security Payment Can Grow After Retirement
Reading Time: 2 MinutesLast Updated: June 21, 2018
You made the choice and now you are happily retired. You filed online for your Social Security benefits. They arrive each month in the correct amount exactly as expected. But, did you ever wonder if your Social Security check could increase?
Once you begin receiving benefits, there are three common ways benefit checks can increase: a cost of living adjustment (COLA); additional work; or an adjustment at full retirement age if you received reduced benefits and exceeded the earnings limit.
The COLA is the most commonly known increase for Social Security payments. We annually announce a COLA, and there’s usually an increase in the Social Security and Supplemental Security Income (SSI) benefit amount people receive each month. By law, federal benefit rates increase when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index (CPI-W). More than 66 million Americans saw a 2.0 percent increase in their Social Security and SSI benefits in 2018. For more information on the 2018 COLA, visit our website.
Social Security uses your highest thirty-five years of earnings to figure your benefit amount when you sign up for benefits. If you work after you begin receiving benefits, your additional earnings may increase your payment. If you had fewer than 35 years of earnings when we figured your benefit, you will replace a zero earnings year with new earnings. If you had 35 years or more, we will check to see if your new year of earnings is higher than the lowest of the 35 years (after considering indexing). We check additional earnings each year you work while receiving Social Security. If an increase is due, we send a notice and pay a one-time check for the increase and your continuing payment will be higher.
Maybe you chose to receive reduced Social Security retirement benefits while continuing to work. You made the choice to take benefits early, but at a reduced rate. If you exceeded the allowable earnings limit and had some of your benefits withheld, we will adjust your benefit once you reach full retirement age. We will refigure your payment to credit you for any months you did not receive payments. Your monthly benefit will increase based on the crediting months you receive. You can find additional information about working and your benefit by reading What You Need to Know When You Get Retirement or Survivors Benefits.
Retirement just got more interesting since you learned about potential increases to monthly payments. Social Security has been securing your today and tomorrow for more than 80 years with information and tools to help you achieve a successful retirement.
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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David A.
Is there any increase is SS benefits due to previous military service and current veterans status?
Thanks
Ann C.
Hi, David. If you are referring to military credits, under certain circumstances, special extra earnings for your military service from 1957 through 2001 can be credited to your record for Social Security purposes. These extra earnings credits may increase the amount of your Social Security benefit. Special extra earnings credits are granted for periods of active duty or active duty for training. They are not granted for inactive duty training.
For more information on special extra earnings for military service, visit our Retirement Planner page here. We would be happy to review your record. For assistance, you can 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 day. We hope this helps.
David L.
While a new card may not be currently required, I understand in the near future, a new card, or some other significant change is coming. Is that correct ??
kenneth m.
We check additional earnings each year you work while receiving Social Security. If an increase is due, we send a notice and pay a one-time check for the increase and your continuing payment will be higher.
** THEREFORE, I DO NOT NEED TO REPORT ANY INCREASE IN MY CURRENT SALARY?**
THANK YOU
Diana W.
Dear SS Dept.,
I have been working after I retired due to getting my grandchildren for the last 3-years. I am very concerned about losing my SS. Can the SS Dept. help me in anyway to only take part of my SS so, I don’t lose all my SS?? Please let me know something before I go to the local SS Dept. Will the SS Dept charge me interest as well. I am so, worried because I worked 3-part time jobs and SS was not much that came out of my check. I just can’t make it without working and these children are 2-yrs and 9-yrs plus I could not get any state help they said I made to much to qualify for anything. Diana
Ann C.
Hi, Diana. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 7:00 a.m. and 7:00 p.m., for assistance. Generally, you will have a shorter wait if you call later in the day. You can also contact your local Social Security office. We hope this helps.
Melinda O.
I had has so much trou le trying to collect widow’s benefits for my mother. My father died january 30. I couldn’t get an appointment until March 20. Benefits were deposited into her account April 1. She dies on April 3 and the money was taken back. After numerous phone calls and forms and a trip to the SSA office I still have not received her benefits. The wait on a phone call is way too long. It has been a very frustrating experience.
Ann C.
Hi, Melinda. We are sorry to hear about your loss and your experience. Unfortunately, but for your security. For your security, we do not have access to private information in this venue. We ask that members in our Blog community work with our offices with specific questions. You can call us at 1-800-772-1213, Monday through Friday, between 7:00 a.m. and 7:00 p.m., for assistance. Generally, you will have a shorter wait if you call later in the day. You can also contact your local Social Security office. You can ask to speak to a supervisor on your next visit or call. We hope this is resolved soon.
William J.
I had a big increase in income last year. Will that increase my social security payment.
Ann C.
Hi, William. 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. Generally, we will send a letter explaining any increase in your benefit amount. Please call our toll-free number at 1-800-772-1213, Monday through Friday, from 7:00 a.m. to 7:00 p.m. or contact your local office directly for further assistance. To learn more read our publication, How Work Affects Your Benefits. We hope this helps.
Edith I.
I did not quite understand the item about increasing your SS benefits.
I retired at age 62 but proceeded to work most of the time after that point.
Would the monies earned and paid to SS be counted in my benefit now – for the years I worked following the 62 retirement?
Ann C.
Hi, Edith. Thanks for your question. 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. Generally, we will send a letter explaining any increase in your benefit amount. Please call our toll-free number at 1-800-772-1213, Monday through Friday, from 7:00 a.m. to 7:00 p.m. or contact your local office directly for further assistance. To learn more read our publication, How Work Affects Your Benefits. We hope this information helps!
Charles M.
Someone made an error in my benefit calculation & no one T the SSA is willing to look at all the data that was used to determine the correct amount. I was initially getting $2265 per month & have been cut to $1914 per month. What can be done about this? Should I hire a lawyer at SSA expense?
Nancy A.
I haven’t worked since I retired, but because I filed
taxes with my husband, my Social Security Benefits were
reduced.
I thought one could work while receiving benefits (NOT THAT I WORKED), but I do not understand why my benefits were reduced when its my spouse that earned his money.
Irma H.
When will my benefits be recalculated since I have been working full time and receiving benefits for over 20 months. In 2017, I started receiving benefits at age 66 yrs and 9 months
Ann C.
Hi, Irma. Each year we review the records for all Social Security recipients who work and will refigure your benefit if applicable. Learn more about how work affects your benefits here. We hope this helps.