Can you work and collect Social Security retirement benefits at the same time?
Yes. However, if you claim before full retirement age, Social Security may temporarily withhold benefits when your wages or net self-employment income exceed the applicable earnings limit.
A different, higher limit applies during the year you reach full retirement age. Starting with the month you reach that age, your earnings no longer reduce your retirement benefits.
Benefits withheld under the earnings test are not simply refunded as a lump sum. At full retirement age, Social Security recalculates your monthly benefit to credit months affected by withholding.
The earnings test generally counts wages and net self-employment income. It does not count pensions, investment income or interest, although those sources can affect how your benefits are taxed.
Before claiming, confirm your full retirement age and estimate your earnings for each year you expect to continue working. Use Social Security’s earnings test calculator, then compare claiming now with delaying benefits.
Your decision should fit your cash flow, taxes and long-term retirement income needs.
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