Yes, working a few more years so that you reach your full retirement age (FRA) -- which ranges between 66 and older, depending on your current age -- will give you a larger monthly Social Security payment. In fact, among elderly Social Security beneficiaries, 21% of married couples and 44% of unmarried people rely on the government program for 90% or more of their retirement income. How much you receive each month from Social Security is based on your top 35 highest earning years (adjusted for inflation) and at what age you file for benefits.