Key Points You're allowed to work while collecting Social Security. If you haven't reached full retirement age, you're subject to an earnings test. Exceeding its limits could mean having some benefits withheld. The $23,760 Social Security bonus most retirees completely overlook › Working during retirement is a great way to boost your senior income. It's also a great way to make up for a lack of savings or a limited individual retirement account (IRA) or 401(k) balance. If you're collecting Socia ...