If You Start Drawing Social Security At 62 Or 64 Can You Stop And Pick It Back Up At 66 Or 67?

Oct 23 2018 - 7:48am

if you start social security at 62 and at 64 you decide that you want to work can you stop it and pick it back up at 66 or 67


If you start drawing reduced benefits prior to your full retirement age (FRA), you can't voluntarily suspend your benefits until you reach FRA. Your benefits could be involuntarily suspended, though, if you return to work prior to FRA and earn more than the Social Security earnings test exempt amount (https://www.ssa.gov/planners/retire/whileworking.html).

Basically, Social Security would need to withhold $1 of benefits for each $2 or $3 that you earn in excess of the exempt amount, which could cause your benefit payments to be suspended for part of a year or the entire year depending on how much you earn. And, if any of your benefits are withheld prior to FRA, your benefit rate could be recalculated effective at FRA to remove some or all of the reduction that was applied to your benefit rate for starting to draw early.

Before deciding when to file, you should strongly consider using our maximization software. The software will allow you to compare all of your various options, and would tell you how your benefits would be affected if you started drawing benefits early and then returned to work prior to FRA.

Best, Jerry