A lot of people depend on Social Security benefits, or they hope to when they retire, but they aren’t always there. We’ll talk about it. A lot of people either count on Social Security benefits now or plan to do so when they retire. It’s important to know, though, that these benefits don’t always come true. This is why.
It’s important to know how you could lose your Social Security payments, especially if you depend on them for your financial security. We’ll talk about some of the ways you could lose your benefits and whether you can get them back here.
Why Social Security Benefits Aren’t Guaranteed and What That Means for You
When you plan to retire or as soon as you become qualified, you may think about getting Social Security benefits. You could lose some or all of your benefits, though, in a number of situations, some of which you might not be able to change.
The Social Security Administration gives out different kinds of rewards, such as:
- Retirement Payments: Monthly payments for retirees.
- Social Security Disability Insurance (SSDI): Assistance for individuals with disabilities.
- Supplemental Security Income (SSI): Support for disabled adults and children with limited income and resources, as well as individuals aged 65 and older who are not disabled but have limited income and resources.
These benefits are very important for many people, but it’s important to know what might affect your status and the amount you get.
Can You Lose Social Security Benefits If Your Income Exceeds Limits?
Yes, it is possible to work and get Social Security payments at the same time. But if you make more than the maximum amount allowed, your monthly benefits may be cut.
Supplemental Security Income (SSI) Limits
Sometimes, you need to make less than $1,971 a month from work in order to get Supplemental Security Income (SSI). For couples, the ceiling is a little higher. If you go over this amount, you might not be able to get SSI anymore.
For every $2 you earn from work, $1 will be deducted from your SSI payment.
Stay Informed
You might be interested in how much your Social Security check might go up in 2025 and when you can expect it this month. Check out our important Social Security and SSDI guide sheet for all the answers you need.
Learning about these limits can help you handle your money better and keep you from accidentally putting your benefits at risk. Working includes all the things you do. It’s important to report changes right away to your monthly pay and where you live.
Social Security Disability Insurance Income Limits
People who get SSDI have a little more freedom when it comes to working and making money. If you get a job while getting SSDI, you can keep getting benefits for up to nine months. This is called a “work trial period” by the Social Security Administration. You have nine months to try this out in 2024. Any month you make more than $1,110 in gross pay will count.
It is important to note that these months don’t have to be next to each other, but they do have to be in a rolling five-year time. During these nine months, you can make as much money as you want while still getting help.
Extended Period of Eligibility (EPE)
You’ll have a “extended period of eligibility” (EPE) for 36 months after your work trial time is over. During this time, you will not get your SSDI payment for that month if your earnings are higher than the EPE limit.
Key points to remember:
- Report changes in income and living situation promptly.
- During the nine-month work trial period, there’s no limit on earnings.
- The work trial period months must fall within a rolling five-year period.
- After the work trial, the 36-month EPE begins, with earnings limits affecting SSDI eligibility.
Understanding these rules can help you find work while getting SSDI benefits, making sure you take advantage of your chances without putting your support at risk. The EPE cap is set at $1,550 per month in 2024, or $2,590 for blind people who are handicapped.
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