Social Security Max Income Allowed 2024 Income Limit. We raise this amount yearly to keep pace with increases in average wages. In 2024, the social security income limit is $22,320 (up from $21,240 in 2023) if you are under full retirement age for the entire year.

If you are younger than full retirement age and earn more than the yearly earnings limit, we may reduce your benefit amount. In other words, if your income exceeds the cap on yearly earnings — which in 2024 is $22,320 for people who claim benefits before full retirement age — social security will.