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Barbara
Barbara, Enrolled Agent
Category: Social Security
Satisfied Customers: 2833
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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I am 80yrs old(06/03/36). I receive SS now but I work part

Customer Question

I am 80yrs old(06/03/36). I receive SS now but I work part time. Do I have to still pay SS. If I do what benefit is it to me.
Submitted: 1 month ago.
Category: Social Security
Expert:  Barbara replied 1 month ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

As long as you continue to work, even if you are receiving benefits, you will continue to pay Social Security taxes on your earnings. However, SSA will check your record every year to see whether the additional earnings you had will increase your monthly benefit. If there is an increase, SSA will send you a letter telling you of your new benefit amount.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Expert:  Barbara replied 1 month ago.

Just following up with you to see if you have any other questions. If so, please let me know so I can further assist you.

Best regards,

Barb

Customer: replied 1 month ago.
How does SSA determine if additional earning warrants an increase? What happens to the SS that I pay into? Why wouldn't I warrant the increase?
Expert:  Barbara replied 1 month ago.

SSA reviews your earnings record each year to determine if the additional earnings warrant an increase in your benefit amount.

The SS you pay gets credited to your record just as it did before you were collecting SS benefits.

Working longer doesn't necessarily mean you get more Social Security benefits. Only your 35 highest-earning years (adjusting for inflation) count, so continuing to work won't boost your benefits unless it increases your average income for the highest-earnings years.

The following links contain excellent information you will find informative:

http://www.fool.com/retirement/general/2014/08/02/how-are-social-security-benefits-calculated.aspx

https://www.ssa.gov/pubs/EN-05-10070.pdf

Please let me know if you have any other questions on this topic.

Best regards,

Barb