Social Security: How Much Can I Earn and Still Get Benefits? 2023

 

When You begin receiveing Social Security retirement benefits, you are considered retired for our purposes.  You can get Social Security retirement or survivors benefits and work at the same time.  However, there is a limit to how much you can earn and still receive full benefits.

If you are younger then full retirement age and earn more than the yearly earnings limit, we may reduce your benefit amount.

If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit.  For 2023, that limit is $21,240.

In the year you reach full retirement age, we deduct $1 for every $3 you earn above a different limit.  In 2023, this limit on your earninggs is $56,520.  We only count your earnings up to the month before you reach your full retirement age, not your earnings for the entire year.

If your earnings will be over the limit for the year and you will receive retirement benefits for part of the year, we have a special rule that applies to earnings for one year.  This special rule lets us pay a full Social Security check for any whole month we consider you retired, regardless of your yearly earnings.

Read our publicaiton, "How Work Affects Your Benefits" for more information.

Begining with the month you reach full retirement age, your earnings no longer reduce your benefits, no matter how much you earn.

We will recalculate your benefit amount to give you credit for the months we reduced or withheld benefits due to your excess earnings.