In 2015, an individual who is 65 can still work while drawing Social Security, but the benefit is reduced until he reaches full retirement age if he earns more than the yearly earnings limit. The full retirement age for individuals born between 1943 and 1954 is 66.
The earnings limit for 2015 if the individual is under full retirement age for the entire year is $15,720. A dollar is deducted for every $2 the individual earns above that amount. In the year that full retirement age is reached, the limit is $41,880 for 2015, and a dollar is deducted for every $3 the individual earns above that amount. If a person aged 65 draws Social Security starting at 65, he receives 93.3 percent of the monthly benefit. If he started drawing it at 62, the minimum age, he gets 75 percent of the monthly benefit if it is drawn at full retirement age.