US Government Information/Social Security Benefits
At age 66 can I choose to draw my social security benefits? If I am still working at my present job at age 66, what is the income limit if I am drawing social security and can I go on medicare at age 66 also?
The Social Security earning test ends with the month that you reach your full retirement age. In fact many people can begin receiving benefits in January of the year they reach age 66 if an application is filed. This is because Social Security will only count your earnings for the months from January through the month before you reach age 66. During this period of time, you can earn the upper limit of $40,080 (2013 limit). Your earnings beginning with the month you reach full retirement age do not count when applying the annual earnings test.
If you have a spouse receiving benefits, you could file a restricted application for a "spouse only" benefit at your full retirement age and delay filing for your retirement benefit until as late as age 70. You would earn delayed retirement credits at the rate of two-thirds of one percent for each month you delay filing for retirement benefits up to age 70.
Hope this information helps.