Can I suspend my Social Security benefits at 62 if I get a high-paying job later?

u can't "pause" but u CAN withdraw application within 12 months of starting benefits. Have to pay back ALL money received tho! After that or after 12 months u can suspend at FRA til 70. look up "Social Security withdrawal" vs "suspension

A couple important points to consider here: 1. If you're under Full Retirement Age and earning significant income, you'll be subject to the earnings test. For 2025, if you earn over $22,320, SSA will withhold $1 in benefits for every $2 above that limit. With a $125K salary, your benefits would likely be completely withheld anyway. 2. As mentioned, you have two options: - Within 12 months of starting: File Form SSA-521 to withdraw your application, repay all benefits, and it's like you never filed. - At Full Retirement Age: You can suspend benefits until age 70 to earn delayed retirement credits. What many people don't realize is that if your benefits are withheld due to the earnings test, SSA recalculates your benefit at FRA to give credit for those months of withholding. So you don't permanently lose that money.

why would u even bother filing at 62 if u might work??? seriously just wait! my cousin did this exact thing & it was a NIGHTMARE dealing with SSA when she tried to stop her benefits. took like 4 months to process & they overpaid her & now she owes them $$$...

The previous responses are correct, but I'd like to add something important about the earnings test. While your benefits would likely be completely withheld with that salary, that's not necessarily bad long-term. When you reach Full Retirement Age, SSA will recalculate your benefit amount and give you credit for the months when benefits were withheld due to work. This means your benefit amount actually increases at FRA to account for those months you didn't receive benefits. Many financial advisors don't fully understand this aspect. It's not widely publicized, but it's an important consideration when deciding whether to file early while still possibly working.

There's one more thing to consider that hasn't been mentioned yet. If you withdraw your application within the first 12 months, you'll be able to reapply later as if you never filed. This means you could potentially get a higher benefit amount when you reapply at a later age. However, if you let the earnings test simply withhold your benefits, those withheld benefits are effectively lost (though as mentioned, your benefit amount is adjusted at FRA). So if you KNOW you'll be making $125K starting within that first year, withdrawing your application might be financially advantageous compared to letting the earnings test withhold your payments. This is definitely a case where running the numbers with a financial advisor who specializes in Social Security optimization would be valuable.

My neighbor said something about a 9 month waiting period to refile? Is that true or is she just confused again??

Since you're considering starting benefits at 62 and then potentially getting a high-paying job, let me offer a different perspective that might be useful for your specific situation: If there's a high probability you'll get this job, consider whether it makes sense to simply delay filing until either: 1. You know for certain about the job opportunity, OR 2. You reach your Full Retirement Age of 67 By delaying, you avoid the complexity of withdrawing your application and repaying benefits. Each year you delay filing between 62 and FRA increases your benefit by approximately 7-8%. And each year from FRA to 70 increases it by 8%. Your specific situation highlights why these filing decisions are so personal and depend on individual circumstances, job prospects, health, and financial needs.

I tried calling SSA like 5 times last month about a similar situation and NEVER got through!!! Just endless holds and disconnects 😡 Has anyone actually reached a real person recently?

One thing I haven't seen mentioned yet is the tax implications of withdrawing your Social Security application. When you withdraw and repay all benefits within that 12-month window, you can also amend your tax returns for any years where you reported that Social Security income. This could result in tax refunds if you paid taxes on those benefits. Also, regarding the earnings test calculation - it's based on your annual earnings, not monthly. So if you start collecting in January but don't begin the high-paying job until April, SSA will look at your total earnings for the entire year. This might affect whether withdrawal vs. letting benefits be withheld is the better financial choice. Definitely recommend getting a personalized Social Security statement from ssa.gov to see your exact benefit amounts at different claiming ages before making this decision!

I went through a similar situation about 3 years ago. Filed at 62, then got an unexpected consulting opportunity 8 months later that would have put me way over the earnings limit. I ended up withdrawing my application using Form SSA-521 and had to repay about $12,000 in benefits I'd received, but it was absolutely worth it in the long run. The process took about 6 weeks to complete, and I had to provide documentation of my expected earnings. When I refiled 2 years later at 64, my monthly benefit was significantly higher than what I would have gotten permanently reduced at 62. One tip: keep detailed records of everything if you go the withdrawal route - all the paperwork, dates, amounts repaid, etc. Also, make sure you understand the tax implications Zadie mentioned. I had to amend my tax return for that year, which was a bit of a hassle but resulted in getting back the taxes I'd paid on those SS benefits. If you're pretty confident about the job opportunity materializing within that first year, withdrawal might be your best bet. But if it's uncertain, you might want to wait and see how the earnings test plays out first.

Just want to add another perspective here - I'm a retired federal employee who dealt with coordinating Social Security with my TSP and federal pension. One thing that often gets overlooked is that if you do start SS at 62 and then get that high-paying job, you might also want to consider the impact on your overall retirement tax planning. Working at $125K while collecting SS benefits (even if they're being withheld) can push you into higher tax brackets and affect things like Medicare premiums down the road through IRMAA (Income-Related Monthly Adjustment Amount). This is especially true if you're also drawing from other retirement accounts. The withdrawal option within 12 months really is a clean slate approach - it's like hitting the reset button on your Social Security filing. But if you're past that window, just remember that suspended benefits from FRA to age 70 earn those 8% delayed retirement credits, which can be substantial over time. Good luck with your decision! The fact that you're thinking through all these scenarios puts you ahead of many people who just file and hope for the best.

This is such a comprehensive discussion with great real-world examples! As someone currently navigating Social Security decisions myself, I wanted to add one more consideration that might be helpful for your specific timeline. Since you mentioned the job opportunity might come 3-4 months after you start collecting benefits, you'll want to be very strategic about timing if you decide to file at 62. The 12-month withdrawal window is calculated from your "entitlement date" (usually the month you first become eligible to receive benefits), not from when you actually receive your first payment. So if you file in January with benefits starting February, your 12-month window closes in January of the following year - regardless of when you actually received payments. This means if the job comes through in May or June, you'd still have plenty of time to withdraw if needed. Also, regarding the Form SSA-521 that others mentioned - you can actually download it from ssa.gov ahead of time and have it filled out (except for dates) just in case. That way if the job opportunity does materialize, you're ready to submit immediately rather than scrambling to figure out the paperwork. The stories shared here about successful withdrawals are really encouraging. It seems like while the process has some complexity, it's definitely manageable if you stay organized and understand the timeline!