Workers who begin Social Security partway through 2026 may qualify for full monthly payments under the monthly earnings test, even if their total income exceeds the annual limit. The Social Security Administration (SSA), the U.S. agency administering the program, can treat a claimant as retired for a whole month when wages remain within the applicable threshold and the person performs no substantial self-employment services. The monthly limit is $2,040 for people below full retirement age all year and $5,430 for those reaching full retirement age in 2026. By contrast, the annual earnings test withholds $1 for every $2 earned above $24,480 for beneficiaries below full retirement age, or $1 for every $3 above $65,160 in the year they reach it, counting only pre-birthday-month earnings. No earnings limit applies after full retirement age. SSA’s example involves a 62-year-old who retired on June 30, 2026, after earning $37,000 and later generated $3,000 in net business income. Despite $40,000 in annual earnings, the worker would receive benefits for July through September because monthly wages stayed below $2,040. Payments for October through December would be withheld because the business work exceeded 45 hours per month, illustrating that both the income and service tests apply to self-employment. The monthly test ends after the first calendar year, and the annual test then applies exclusively. Withheld benefits are not forfeited; SSA recalculates the benefit at full retirement age to credit withheld months. The figures will be adjusted for inflation in 2027 after the October 14, 2026, cost-of-living adjustment announcement, alongside changes to credit requirements and the maximum taxable earnings base.