How to Get a Social Security Bonus

There is no official Social Security “bonus” payment or special program that gives retirees extra money. Instead, the term is sometimes used to describe strategies that can increase your regular monthly benefit, such as building a stronger earnings record or delaying Social Security past full retirement age. Cost-of-living adjustments can also raise benefits over time. It helps to understand how each of these increases works, so you can estimate how much Social Security may contribute to your retirement income.

If you’re curious about how Social Security fits into your retirement plan, you may want to consider working with a financial advisor.

Is There a Social Security Bonus?

No, the term “Social Security bonus” isn’t an official benefit, and there is no separate bonus check or special payment that retirees can apply for. Instead, the phrase is sometimes used to describe ways your regular Social Security retirement benefit can increase. One of the most important is delaying when you start claiming benefits. While you can file as early as age 62, full retirement age is 67 for anyone born in 1960 or later, and claiming before FRA permanently reduces your monthly retirement benefit.

For people born in 1943 or later, delaying retirement benefits after FRA earns delayed retirement credits equal to 8% per year, or two-thirds of 1% per month, until age 70. There is no additional delayed-retirement increase after age 70. These credits can result in a substantially larger monthly benefit, although waiting does not necessarily maximize lifetime benefits for every retiree.

For many retirees, this higher monthly payment can be an important planning tool, particularly for those who expect a longer retirement or have other income available while they delay Social Security. Health, longevity, cash-flow needs, taxes and potential spousal or survivor benefits can all affect the decision.

How to Get a Social Security Bonus

There are many ways to boost your Social Security benefits, creating a bonus of sorts. From increasing your earnings to being strategic with your benefits.

Here are the four possible options to get more in benefits:

Option 1: Increase Your Earnings

Your earnings are the primary factor determining benefits. Specifically, your earnings are computed using your average indexed monthly earnings, which represent up to 35 years of your indexed earnings. The SSA uses this amount to calculate your primary insurance amount (PIA), which determines how much you receive in retirement benefits.

A simple way to increase your benefits is to increase your lifetime earnings. Making more money means the SSA has a higher starting point for indexing your earnings. However, Social Security only counts earnings up to the annual taxable maximum. That limit is $184,500 in 2026 and will increase to $192,300 in 2027, so earnings above the applicable limit do not further increase your Social Security earnings record for that year.

Increasing your annual income can be particularly helpful if there are gaps in your work history. The Social Security Administration looks at 35 years of earnings, but a “0” is entered for years in which you don’t report any earnings. Additional higher-earning years may also replace lower-earning years already included in your 35-year calculation, potentially increasing your benefit.

Option 2: Wait Until Age 70 to Claim Social Security Benefits

Technically, you can begin drawing Social Security retirement benefits at age 62. The catch, however, is that this will reduce your benefit amount. You can avoid the early-claiming reduction by waiting until your full retirement age. FRA is 67 for people born in 1960 or later.

But there’s a third option: Delay benefits until age 70. In doing so, you can get what is sometimes described as a Social Security “bonus” in the form of a higher regular benefit. For people born in 1943 or later, delayed retirement credits increase the benefit by 8% for each full year of delay beyond FRA, with credits accruing monthly until age 70.

However, although waiting until age 70 to claim Social Security benefits can result in a larger check, you also must consider how realistic that option is. You do not have to keep working to earn delayed retirement credits. Someone could retire at 65, for example, and use savings or other retirement income until starting Social Security at 70. That strategy requires enough resources to fund the five-year gap.

Option 3: Be Strategic With Spousal Benefits

Married couples can both collect Social Security retirement benefits, but it’s important to consider each spouse’s own retirement benefit, any potential spousal benefit and eventual survivor benefits. A spousal benefit can generally be worth up to 50% of the worker’s full-retirement-age benefit if the spouse claims it at their own FRA.

Waiting beyond FRA does not increase a spousal benefit through delayed retirement credits. Those credits apply to a worker’s own retirement benefit. So if a lower-earning spouse is entitled primarily to a spousal benefit, waiting from FRA until 70 does not increase that spousal amount. If the lower-earning spouse also has a retirement benefit based on their own earnings, however, delaying that benefit may increase the portion based on their own record.

Current deemed-filing rules also generally require someone eligible for both retirement and spousal benefits to apply for both, with SSA effectively paying the higher combined amount. Most current retirees therefore cannot collect only a spousal benefit while allowing their own retirement benefit to continue growing until 70.

Life expectancy can still matter when couples choose claiming ages. Delayed retirement credits earned by the higher earner can also increase a later survivor benefit, which can make delaying particularly relevant when planning for the surviving spouse.

Option 4: Make the Most of COLA Increases

Social Security benefits can increase through annual cost-of-living adjustments (COLAs), which are designed to help benefits keep pace with changes in consumer prices. Social Security received a 2.8% COLA for 2026, and SSA has announced a 3.6% COLA for 2027. Nearly 72 million Social Security beneficiaries are expected to see the 2027 adjustment beginning with benefits payable in January 2027.

This Social Security increase isn’t a bonus. COLAs are automatic adjustments calculated using changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Because your personal spending and retirement budget may differ from the goods and services represented by that index, your own expenses may rise faster or slower than the COLA.

You also do not have to be collecting Social Security to benefit from applicable COLAs while delaying your retirement claim. SSA applies COLAs to the primary insurance amount used to calculate your eventual benefit, while early- or delayed-retirement adjustments are applied separately.

How Income and Taxes Can Reduce Social Security Benefits

Social Security payments are not always received in full. If you earn income from work or other sources, it can affect how much is temporarily withheld before full retirement age and how much of your benefit may ultimately be taxable.

• Earning before full retirement age: If you begin collecting benefits before reaching FRA and continue to work, Social Security may temporarily withhold benefits when your wages or net self-employment income exceed the annual earnings limit. For 2026, the limit is $24,480 if you are under FRA for the entire year. It rises to $25,560 in 2027. In the year you reach FRA, the respective limits are $65,160 for 2026 and $67,920 for 2027, and only earnings before the month you reach FRA count. Once you reach FRA, the earnings test no longer applies.
• Paying taxes on benefits: Social Security income may be taxed depending on your total income. Under federal rules, up to 50% or 85% of benefits can be included in taxable income, depending on filing status and combined income. That does not mean Social Security is taxed at a 50% or 85% tax rate. Taxpayers age 65 and older may also qualify for a temporary additional federal deduction of up to $6,000 per eligible person for tax years 2025 through 2028, subject to income limits. That deduction does not change the underlying formula determining how much of Social Security is included in taxable income.
• Drawing on multiple income sources: For retirees with other sources of income, such as part-time work, pensions or investment withdrawals, planning around Social Security is important. IRA and 401(k) distributions, investment income and other taxable income can affect the federal taxation of Social Security, so coordinating withdrawals may help manage taxable income from year to year.

Tips for Maximizing Retirement Income

Boosting your retirement income often comes down to making smart, proactive choices throughout your working years and into retirement. These tips can help you stretch your savings further and build a more secure financial future.

• Delay Claiming Social Security If You Can: Like we previously mentioned above, waiting to claim benefits past your full retirement age increases your monthly payment by roughly 8% per year until age 70. This can create a meaningful long-term boost, especially for retirees who expect to live longer or who have other income sources to rely on.
• Contribute Consistently to Tax-Advantaged Accounts: Regularly funding accounts like 401(k)s, IRAs or Roth IRAs allows your money to grow with the help of tax deferral or tax-free compounding. Even small, steady contributions can build significant wealth over time, especially if your employer offers matching contributions.
• Adjust Investments as You Near Retirement: Rebalancing your portfolio to reduce risk while still allowing for growth can help protect your nest egg. Many retirees shift gradually from stock-heavy portfolios toward more diversified allocations that emphasize stability and income.
• Create a Withdrawal Strategy That Minimizes Taxes: The order in which you withdraw from taxable, tax-deferred and tax-free accounts can affect how long your savings last. Coordinating withdrawals with required minimum distributions and your annual tax bracket can help you keep more of your retirement income.

Retirement income strategies can vary depending on your spending needs, retirement age and investment mix. SmartAsset’s retirement calculator can help you test different assumptions and estimate your long-term financial outlook.

Bottom Line

There is no official Social Security bonus that retirees can claim. What is sometimes called a “bonus” is generally the result of increasing the regular benefit you qualify for through a stronger earnings record, delaying retirement benefits or receiving cost-of-living adjustments. Waiting until age 70 can produce a larger monthly retirement benefit, but it is not automatically the best choice for everyone. Health, longevity, other retirement income, taxes and potential spousal or survivor benefits can all affect the decision. Comparing those factors can help you choose a claiming strategy that fits your broader retirement plan.

Retirement Planning Tips

• Consider talking to a financial advisor about how to manage Social Security within your retirement plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• Social Security isn’t the only way to secure your retirement. You can also build wealth by saving consistently in your 401(k) plan and/or an Individual Retirement Account (IRA). If you’re already contributing to these accounts, you might consider opening a taxable brokerage account online as well. This way, you can save even more toward retirement without being restricted by annual contribution limits.

Photo credit: ©iStock.com/mphillips007, ©iStock.com/RichVintage, ©iStock.com/Bill Oxford