Ask Larry

Do I Get An Increase In Social Security Since I'm Still Working?

I retired at 67 and still work now retired in2021 do i get in acrease in social security

Hi. I assume what you're asking is whether or not your ongoing earnings will cause your benefit rate to increase. In that case, the answer is maybe. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so additional years of earnings only increase a person's benefit rate if they're higher than one or more of the 35 years currently being used to calculate the person's benefit rate.

Social Security automatically recomputes benefit rates to include additional years of earnings, so if your earnings this year and in future years are high enough to increase your benefit rate then you shouldn't need to do anything to receive the increase. You could, however, submit proof of your earnings (e.g. copy of your W-2 form) along with a written request asking Social Security to manually recompute your benefit rate.

Best, Jerry

Posted: 
Sep 17 2021 - 12:24pm
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