If you take Social Security benefits before you reach full retirement age, and you earn income in excess of the annual earnings limit, your Social Security benefits will be reduced. Below are the current and past years' earnings limits for reference.
For details on what type of income counts as earnings, how this limit applies, and how much of a reduction you could experience, read Earning More Than The Social Security Earnings Limit Can Reduce Your Benefits.
1. 2012 Earnings Limit
In 2012, the annual Social Security earnings limit went up slightly. It is now $14,640 ($1,220 per month).
That means if you are receiving Social Security benefits and you are not yet full retirement age, you can earn up to $14,160 and your benefits will not be reduced. If you earn over $14,160 the amount of reduction you incur will depend on your age.
2. 2011 Earnings Limit
In 2011, once again the annual earnings limit remains at $14,160 ($1,180 per month).
That means if you are receiving Social Security benefits and you are not yet full retirement age, you can earn up to $14,160 and your benefits will not be reduced. If you earn over $14,160 the amount of reduction you incur will depend on your age.
3. 2010 Earnings Limit
In 2010, the annual earnings limit remains at $14,160.
That means if you are receiving Social Security benefits and you are not yet full retirement age, you can earn up to $14,160 and your benefits will not be reduced. If you earn over $14,160 the amount of reduction you incur will depend on your age.
4. 2009 Earnings Limit
In 2009, the annual earnings limit was $14,160.
That means if you were receiving Social Security benefits and you had not yet reached full retirement age, you could have earned up to $14,160 and your benefits would not have been reduced. If you earned over $14,160 the amount of reduction you incurred was dependent on your age.
5. 2008 Earnings Limit
In 2008, the annual earnings limit was $13,560.
That means if you were receiving Social Security benefits and you had not yet reached full retirement age, you could have earned up to $13,560 and your benefits would not have been reduced. If you earned over $13,560 the amount of reduction you incurred was dependent on your age.
6. 2007 Earnings Limit
In 2007, the annual earnings limit was $12,960.
That means if you were receiving Social Security benefits and you had not yet reached full retirement age, you could have earned up to $12,960 and your benefits would not have been reduced. If you earned over $12,960 the amount of reduction you incurred was dependent on your age.
