Social Security retirement benefits | American Funds

Other references


Retirement Planning

Social Security retirement benefits

As you plan for retirement, it’s important to evaluate your Social Security options. If you retire before what’s considered full retirement age, your monthly benefits will be reduced. Use the table below to find your full retirement age.

* If your birthday is on January 1, use the full retirement age for the previous year.

Additional information:

  • The 2021 maximum benefit is $37,776 per person per year.
  • If you return to work after you’ve started claiming Social Security benefits and you haven’t reached full retirement age, those payments may be reduced. See the table below.

    If you’re under your full retirement age in 2021… Your payments will be reduced $1 for every $2 you make over $18,960.
    If you will reach your full retirement age in 2021… Your payments will be reduced $1 for every $3 you make over $50,520 until the month you reach full retirement age. You can then work without any reduction in your benefits, no matter how much you earn.

For more details about your benefits (including a tool that helps you estimate what your benefits might be), visit the Social Security website.

Return to top

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional or downloaded and should be read carefully before investing.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

American Funds Distributors, Inc., member FINRA.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Use of this website is intended for U.S. residents only.