Timothy Sumer

A common question we get is, how much does a pension reduce your social security benefit? The first thing you have to look at is if you paid into social security while you were working. If you are receiving a pension and also paid into social security while you were working, you should be able to receive both just fine. If you worked for a school system or the government and did not pay into social security while working, unfortunately, your social security will be reduced. Typically, you will get about 2/3 of your social security, but it really depends on the person situation. However, the best thing you can do is make an appointment with a social security administrative person and get that evaluated. That way you will fully understand what your income will be before retirement. Or meet with a financial planner who can help walk you through this process and look at the best income strategy in retirement. Social Security Calculator: Download our FREE guide on "Your P...