Social Security retirement benefits | American Funds

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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.

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