Ask Larry

Will My Benefits Increase At 65 If I Retire At 62 And Continue To Work?

will my social security benefits increase at at 65 if i retire at age 62 and still continue to work until im 65?

Hi. Your Social Security retirement benefit rate can potentially increase after any year in which you have Social Security covered earnings, regardless of when you start drawing benefits. However, additional years of earnings only increase a your benefit rate if they're higher than one or more of your previous highest 35 years of Social Security wage indexed earnings.

If you start drawing your benefits prior to full retirement age (FRA), your benefit rate is permanently reduced for any months that you are paid benefits prior to FRA. However, if you start drawing benefits prior to FRA and if you aren't paid benefits for some months because your earnings exceed the Social Security earnings test limits, then your benefit rate can be adjusted at your FRA in order to remove the age reduction applied for the months that your benefits were withheld due to earnings.

You may want to strongly consider using our software ( to fully analyze all of your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry

Mar 24 2022 - 1:10pm
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