Changes For 2021
In 2021 the amounts you can earn and collect Social Security before your full retirement age has been raised to $18,960. As before, the penalty is $1 for every $2 over that amount.
Also, the amount you are allowed to earn and while collecting Social Security in the year you turn full retirement age has been raised to $50,520 up to the actual date of your full retirement age. As before, the penalty is $1 for every $3 you are above that allowed level.
Also, the cost of living increase will be 1.3%
