Q:

Can you work part time while collecting a pension?

A:

Quick Answer

An individual may work part time while collecting a pension if he has officially retired. Many retirees opt to continue working after retirement to supplement their monthly pension checks. They do this to maintain a standard of living they have become accustomed to prior to retiring.

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Full Answer

There are several things to consider before making the decision to work part time after retirement. It is important to understand that your age and income may reduce your Social Security benefits for the short term. Always calculate your budget based on after-tax dollar amounts, not before-tax dollar amounts. Make sure to factor in your health care coverage needs. Be aware of how your pension is calculated and what can affect your pension. Finally, ensure you are covering all expenses related to going back to work.

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