WASHINGTON—The Trump administration is working on a plan to tighten eligibility requirements for disability benefits, especially for older Americans, the latest step in a broader White House effort to shrink federal safety-net programs.

The proposal being prepared by the Social Security Administration would revise eligibility for disability benefits based on age, education and work experience, according to a draft viewed by The Wall Street Journal. Those factors determined the eligibility of about 500,000 people in 2017, according to the latest available data. More than eight million people currently receive disability payments.