You can continue to work after retirement, even if you are collecting social security benefits, but be aware that if you have not reached your full retirement age your working income could affect your benefits.

If you were below full retirement age for the entire year you worked, Social Security will deduct $1 of benefits for every $2 you earned over the annual limit. This limit is $12,480 for 2006.

If you reach full retirement age during the year you worked, Social Security will deduct $1 for every $3 you earned over the limit for the months before you attained full retirement age. This limit is $33,240 this year.

Once you reach full retirement age, you may collect full benefits with no limits on your earnings.

If you don’t know your full retirement age, you can check it here.