1 If you reach full retirement age during. 2017, 2  we must deduct $1 from your. benefits for each $3 you earn above. $44,880 until the month you reach full. retirement age. 3  These examples show how the. rules would affect you:  Let’s say that you file for Social Security. benefits at age 62 in January 2017 and. your payment will be $600 per month.