You may be able to increase your benefits if you continue to work. Each year, the Social Security Administration reviews the records of all recipients who are employed. If your latest year of work is one of your highest earning 35 years, your benefit would be recalculated and you’d receive an increase. (But keep in mind that if you've taken your benefits before your full retirement age and are making more than the annual earnings cap, $15,120 for 2013, Social Security will reduce or eliminate your benefits until you reach your full retirement age.) If you've been taking benefits for less than a year, you are allowed to stop them, pay them back and restart them later at a higher level.
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