Working While Retired
Reading Time: 2 MinutesLast Updated: October 5, 2021
Retirement life is different for everyone. Social Security is here to secure today and tomorrow, whether you sail into the sunset or decide to continue working. Some of our rules allow you to receive Social Security retirement or survivor benefits and work at the same time, as long as you don’t make more than Social Security’s annual earnings limit. For 2021, that limit is $18,960.
If you’re younger than full retirement age and make more than the yearly earnings limit, we’ll reduce your Social Security benefits. But starting with the month you reach full retirement age, we will not reduce your benefits, no matter how much you earn. Our Retirement Portal explains the requirement and deductions, and what happens after you reach full retirement age.
Two of our online tools can help you find the information you need to make the right decision for you. You can find your full retirement age based on your date of birth by using our Retirement Age Calculator. Our Retirement Earnings Test Calculator can help you find out how much your benefits may be reduced if you are working and haven’t reached your full retirement age.
There are several things to consider if you plan to continue working after you retire. Our website gives you detailed information for the type of employment that you have. It also explains what types of pensions, annuities, and income do not count toward your earnings limits.
Additional earnings after you start collecting benefits might increase your monthly benefit. If there’s an increase, we’ll send you a letter telling you of your new benefit amount. If you think your earnings will be different than what you originally told us, let us know right away. For more information, read our publication, How Work Affects Your Benefits, or visit our website. No matter what you decide to do with your retirement life, you can count on Social Security.
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Tags: retirement, retirement benefits
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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Andre G.
I am 76 year-old and I just received a lawsuit settlement from a previous employer. They withheld $1,899.30 in Federal Income Tax, $520 in Social Security Tax and $121 in Medicare Tax
Can I get those amounts refunded? And or will it increase my Social Security benefit?
R.F.
Hello Andre. 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!
Nick R.
Are 2018 earning while collecting limits posted?
R.F.
Hello Nick. For beneficiaries under full retirement age, the annual earnings limit in 2018 is $17,040. See “Getting Benefits While Working” for complete information. Thanks!
Raymond a.
If you are already drawing SS, after you turn 65 how much money can you make yearly without affecting SS
V.V.
Hi Raymond and Karen. Thank you for your question. The amount you’re allowed to earn depends on your age. If you attain full retirement age (66) in 2018, the earnings limit is $45,360 but we only count earnings before the month you reach full retirement age. Beginning with the month you reach full retirement age, earnings no longer reduce your benefits, no matter how much you earn. If you’re under full retirement age for the entire year, then we deduct $1 from benefit payments for every $2 earned above the annual limit. For 2018, that limit is $17,040.
Visit our Retirement Planner: Getting Benefits While Working and our Retirement Earnings Test Calculator. Hope this helps!
Sondra K.
I retired @62 yo. I will be 75 in late December. I have just gotten a part-time job. Does this affect my SS? Do I need to complete paperwork for Social Security withdrawals? If so, should I claim myself and also Head of Household – Two exemptions?
Thank you for your help
R.F.
Hello Sondra. At 74 years young, you have -already- attained your full retirement age. If you work and are full retirement age or older, the amount you make at work will not affect your Social Security benefits, no matter how much you earn. Please read our publication “How Work Affects Your Benefits” for more information.
Also, some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits. For further income tax questions, you will need to contact the IRS. Their toll-free number is 1-800-829-1040. Thanks!
Vivian
Delete 2 year old info
Migdalia B.
Can I work 40 hrs a week and receive SS?
R.F.
Hello Migdalia, you can still work and receive your Social Security retirement benefits at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, this can reduce the number of payments you receive through the year.
To learn more, see “Getting Benefits While Working“. Thanks!
David W.
Will my annual earnings after age 70 affect my monthly benefit. I’m now 80 and plan on working for
2 to 5 years. My current annual income is much more
than in the past.
R.F.
At 80 years young, you have -already- reached your full retirement age, David. If you work and are full retirement age or older, the amount you make at work will not affect your Social Security benefits, no matter how much you earn.
Please read our publication “How Work Affects Your Benefits” for more information. Thanks!
Carolyn M.
? Age 79 /Work p.t. ? Should I still have SS deductions ?
R.F.
Hello Carolyn. Everyone working in covered employment or self-employment regardless of age or eligibility for benefits must pay Social Security taxes. Generally, if you continue to work while receiving retirement benefits, your monthly benefit amount could increase. Each year, we review the records for all working Social Security recipients to see if additional earnings could their monthly benefits. Thanks!
William M.
What is annual earnings limit for 2018 ?
R.F.
Hello William. If you are under full retirement age the earnings limit for 2018, is $17,040 ($17,640 for 2019). Beginning with the month you reach full retirement age, your earnings no longer reduce your benefits, no matter how much you earn.
See “Getting Benefits While Working” for more information. Thanks!
Virginia S.
I received an increase for my November social security. Is the increase due to my still working?