You do not lose your Social Security retirement or survivors’ benefits if you work. If you continue to work after you reach your full retirement age, you can retain all of your Social Security benefits regardless of how much you earn. If you have not yet reached your full retirement age and you earn more than a specific amount, your Social Security benefits may be reduced. However when you reach full retirement age, you will receive increased benefits to compensate for the amounts that were withheld due to your earnings.

Your full retirement age for Social Security benefits depends on your birth date:

• If you were born between January 2, 1942, and January 1, 1943, your full retirement age is 65 years and 10 months.
• If you were born between January 2, 1943, and January 1, 1955, your full retirement age is 66 years.
• If you were born between January 2, 1955, and January 1, 1960, your full retirement age is 66 years plus 2 months for each year after 1954.
• If you were born after January 1, 1960, your full retirement age is 67.

If you are younger than full retirement age and work while receiving Social Security benefits, $1 in benefits is withheld for every $2 you earn in wages or net self-employment income above a specific annual amount. If you reach full retirement age during the year, $1 in benefits is deducted for every $3 you earn above a specific amount until the month of your birthday. Beginning with the month that you reach full retirement age, you can receive your full Social Security benefit regardless of how much you earn.

Work-related reductions in spousal or survivors’ benefits are not compensated for upon reaching full retirement age. Different rules also apply to Social Security beneficiaries who work outside of the United States. You can learn more about working while receiving benefits at the U.S. Social Security Administration’s Web site.