I just turned 62 and not currently working. Do these benefits have to be repaid?
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Answered 1 year ago
People between ages 62 and the year they reach full retirement age will have $1 of benefits withheld by Social Security for every $2 earned in excess of their allowable earnings threshold. If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit.For 2013, that limit is $15,120.