Retirement

Three Common Ways Your Social Security Payment Can Grow After Retirement

June 21, 2018 • By

Reading Time: 2 Minutes

Last Updated: June 21, 2018

woman planting flowers 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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About the Author

Jim Borland, Acting Deputy Commissioner for Communications

Jim Borland, Acting Deputy Commissioner for Communications

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Comments

  1. Becky M.

    I waited the delayed time to draw SS from divorce husband. I am 78 yrs now and only draw $866.30 monthly. Pay $178. Plus for ??????? gap insurance personally out of the $866. Why did I not get the $1600 monthly instead of a reduction?

    • Vonda V.

      Thank you for your question, Becky. Your benefit as a divorced spouse can ONLY be equal to one-half of your ex-spouse’s full retirement amount (or disability benefit) if you start receiving benefits at your full retirement age.

      Please visit our Retirement Planner: If You Are Divorced for more information.

  2. Larry K.

    I retired July 1st 2016 but continue to work. All my social security was held back for 14 months. My benefit for the each month was to be 16 hundred and $31 times that by 14 months and they withheld $22,834 because I was making too much money working. In October 2017 I quit work I got with Social Security and they started paying me a monthly benefit of $1,631. They paid me $8,500 cash. Why I do not know. In April 2018 they said they paid me $2,700 more than I should have done. I’m paying that back $90 a month. I assumed they would make an adjustment when I turn 66 July 1st 2018. They said I had no more money coming. You take $22,834 subtract $5,800 that leaves $17,034 that was withheld not including the $2,700 I’m paying back which was withheld from me in the first place. How do I get this straightened out. Thank you

    • Ray F.

      Hello Larry. Unfortunately, and because of security reasons we do not have access to personal records in this blog and cannot help you resolve this issue at this time. One of our representatives should be able to provide you with an explanation. Please call our toll free number at 1-800-772-1213 for assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will have a shorter wait time if you call later during the day or later in the week.
      You can contact your local office and request a review of your records. Also, you can write to us or send us an email. Thanks.

  3. Permelia A.

    I read on the website that my full retirement age is 66 because I was born in 1951. I work 4 days a week and S.S. and Medicare continues to be taken out. At what point will I see an increase?

    • Vonda V.

      Thank you for the question, Permilia. 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!

  4. Sandra D.

    Can I collect half of my husbands social security at my age 66 (born in 1953) and then collect mine when I turn 70? Or keep getting his if it is more?

    • Ray F.

      Hello Sandra, if you were born before January 2, 1954 and have already reached full retirement age, you can choose to receive only the spouse’s benefit and delay receiving your retirement benefit until a later date.
      See “Benefits For You As A Spouse” for more information. Thanks!

  5. Patrici Q.

    I should be billed $134/month, as I was for first 4 months of coverage. I was also told this verbally by phone and your web site states $134/month for my coverage. I just received a premium notice for $201 per month to cover the next two months, total of $402, for the same coverage. I need this corrected. I’m 66YO, and if Soc. Sec. bills me for amounts like this, I’ll be in my 60s and beyond and unable to afford health insurance. I need someone to correct this!

    • Ray F.

      Hello, because of security reasons we do not have access to personal records in this blog and cannot assist you at this time. One of our representatives should be able to help you and provide you with an explanation. Please call our toll free number at 1-800-772-1213 for assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will have a shorter wait time if you call later during the day or later in the week. Thanks.

  6. Santana V.

    I have reached my substantial earned income years. Can you explain to me what the windfall elimination means. Can I do early retirement also and not have my benefits reduced if I earn as much as I want?

  7. Francine C.

    To who it may concern. The cost of living in california is way over a 2% Increase. How can you explain this to a senior lady of 71 yrs of age. The cost of living here just keeps going up and up in every field. Rent, food gas
    clothing.

    Francine Carroll

  8. Marcia C.

    I want to discontinue having the extra money for tax purposes taken out of my SS check.
    I believe right now it is over 500 dollars a month.
    I am fully retired and not receiving income.
    Who should I calll to have this changed

  9. cathy h.

    I am retired and was on disability for a few years. I am now wondering if i could work a little to pay off some debt. The doctor told me not to go back to teaching, but something i can get out of easily if i need to. I do not understand how much extra i can make a year?

  10. Natalia T.

    I was lied to. I was going to retire at 66 or 67 years old because I was going to continue to work after I retired from the Texas school district. I was told it did not matter if I earned a million dollars, I would still get the same amount if I retired at 65 years old. Instead of getting $735.00, I get $226.00 related to being misinformed. Please help me with this issue. I have a mortgage of $740.00 a month because I qualified related to being misinformation I am having a hard time having ends meet.
    Sincerely

    • Ray F.

      Hello Natalia. A pension based on work that is not covered by Social Security (for example, Federal civil service and some State or local government agencies) may cause the amount of your Social Security benefit to be reduced. Some school districts did not pay into Social Security, and are subject to the Windfall Elimination Provision (WEP).
      The WEP can affect how we calculate your benefit amount, resulting in a lower Social Security benefit than you otherwise would receive. Thanks!

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