social security
can i draw my pension at age 61 if i receive social security social security will i my check be lower
Terry Says
Your pension is totally separate from your Social Security. The amount you receive depends on the term of the pension. Many offer a lower amount if you take it early.
But SS will be impacted by other earnings. You don’t want to take SS early. If you do, you’ll receive a much reduced SS benefit — depending on the amount of your pension.
For starters, you can’t get your SS benefit before age 62 — unless you are receiving SSDI.
Second, there’s a complicated formula for the permanent, lifetime reduction in SS benefits that happens if you take it before your full retirement age of 67.
You can read this to see the exact formula: https://legalclarity.org/how-social-security-percentage-by-age-impacts-benefits/
Second, if your income rises above a certain limit — $23,400 in 2025 — the benefits are reduced $1 for every $2 earned above that limit, if you have taken benefits before FRA.
SO — if you qualify for your full, unreduced work pension now, go ahead and take that. Or delay as long as possible until the benefit is NOT reduced.
Then do wait until your full retirement age to take Social Security. You’ll get your full check, and depending on your other income, you will likely pay very little in income taxes on the benefit.
