Social Security Earnings Limit 2024 At Age 62. The reduction rate is $1 for every $2 earned over the $18,960. Here's the maximum possible social security benefit at ages 62, 66, 67, and 70.

For the period between january 1 and the month you attain full retirement age, the income limit increases to $56,520 (for 2023) without a reduction in benefits. Let’s say you file for social security benefits at age 62 in january 2024 and will be receiving $600 monthly or $7,200 for the year.