Liz Weston: Can you halt Social Security payments if your earnings exceed the limit?
- Business (https://www.oregonlive.com/business/)
- Updated: Jan. 10, 2026, 7:11 a.m.
- Published: Jan. 10, 2026, 7:00 a.m.
Dear Liz: Is it possible to stop receiving Social Security payments if I decide to earn more than the $23,000 threshold?
Answer: If you begin receiving Social Security benefits before reaching your full retirement age, you will encounter an earnings test. This means that for every $2 you earn over a specified cap—set at $24,480 for the year 2026—your benefit will be reduced by $1.
However, once you attain your full retirement age, you have the option to suspend your Social Security payments. Importantly, the earnings test will no longer apply after you reach this milestone.
It’s essential to note that the funds deducted due to the earnings test are not permanently lost. The amounts that were withheld will eventually be added back to your benefit over time. What you effectively miss out on is the potential increase in your benefits that would have been available had you chosen to delay applying until reaching your full retirement age.
Fortunately, you still have one final opportunity to enhance your benefit through delayed retirement credits. If you choose to suspend your payments when you reach full retirement age, you can receive these credits, resulting in an 8% increase for each year you delay receiving benefits until you turn 70. For many individuals, this cumulative 24% increase, along with any cost-of-living adjustments accrued during that time, can make the wait highly beneficial.
- Liz Weston: What are share or deposit secured loans, and who provides them? (https://www.oregonlive.com/business/2026/01/liz-weston-what-are-share-or-deposit-secured-loans-and-who-offers-them.html)
- Liz Weston: Can I create a 529 account for a grandchild residing overseas? (https://www.oregonlive.com/business/2026/01/liz-weston-can-i-set-up-a-529-account-for-a-grandchild-who-lives-abroad.html)
- Financial experts suggest actionable strategies instead of resolutions for 2026 (https://www.oregonlive.com/business/2025/12/financial-experts-recommend-actionable-plans-over-resolutions-for-2026.html)
Liz Weston is a Certified Financial Planner and a personal finance columnist for NerdWallet. (https://www.nerdwallet.com/) You can send inquiries to her at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or utilize the “Contact” form at asklizweston.com. (https://asklizweston.com/)
