What’s new for Social Security and Medicare in 2021
Full retirement age increases
Full retirement age increases to 66 and 2 months in 2021. Workers who were born in 1955 and who will attain their full retirement age next year can earn up to $50,520 in the months before they reach that milestone. If they earn more than $50,520, they will forfeit $1 in benefits for every $3 earned over that limit. Earnings restrictions disappear at full retirement age.