Estimate your monthly Social Security benefit and see what claiming at 62, 67 or 70 does to it.
The method behind this calculator
Social Security benefits are calculated from your highest 35 years of indexed earnings, run through a three-tier formula that replaces a large share of low earnings and a small share of high ones. The result is your primary insurance amount at full retirement age.
Claiming early permanently reduces the benefit by up to 30%; delaying past full retirement age adds 8% a year until 70. The calculator shows all three points so you can compare.
Step by step
- Enter your current age and average annual earnings.
- Enter how many years you have worked.
- Choose a claiming age to see the adjusted benefit.
Formula reference
The default scenario, worked through
On the values this calculator opens with, the estimated monthly benefit is $2,444.41. Underneath, AIME comes out at $5,416.67 and PIA at full retirement age at $2,444.41. Change any field and every figure updates as you type.