Social Security Calculator
- Updated
- Formula shown
- Free, no sign-up
Results
Claiming at 70 instead of 62 pays $2,480.00 instead of $1,400.00 a month and comes out ahead if you live past 80 and 4 months
- 62
- $1,400.00
- 63
- $1,500.00
- 64
- $1,600.00
- 65
- $1,733.33
- 66
- $1,866.67
- 67 (full retirement age)
- $2,000.00
- 68
- $2,160.00
- 69
- $2,320.00
- 70
- $2,480.00
| Claim at | Months from FRA | % of full benefit | Monthly | Yearly | Total by 80 | Total by 90 |
|---|---|---|---|---|---|---|
| 62 | −60 | 70% | $1,400.00 | $16,800 | $302,400 | $470,400 |
| 63 | −48 | 75% | $1,500.00 | $18,000 | $306,000 | $486,000 |
| 64 | −36 | 80% | $1,600.00 | $19,200 | $307,200 | $499,200 |
| 65 | −24 | 86.67% | $1,733.33 | $20,800 | $312,000 | $520,000 |
| 66 | −12 | 93.33% | $1,866.67 | $22,400 | $313,600 | $537,600 |
| 67 | 0 | 100% | $2,000.00 | $24,000 | $312,000 | $552,000 |
| 68 | +12 | 108% | $2,160.00 | $25,920 | $311,040 | $570,240 |
| 69 | +24 | 116% | $2,320.00 | $27,840 | $306,240 | $584,640 |
| 70 | +36 | 124% | $2,480.00 | $29,760 | $297,600 | $595,200 |
Amounts are in today's dollars: cost-of-living increases raise every claiming age alike. Most people can start at 62 and 1 month; if you were born on the 1st or 2nd of a month, from the month you turn 62.
Claiming before full retirement age while still working can mean benefits are withheld under the earnings test. Spousal and survivor benefits use different rules. Get your exact benefit at www.ssa.gov/myaccount/.
How to use the Social Security calculator
- Sign in to my Social Security and find your estimated monthly benefit at full retirement age. This is your primary insurance amount (PIA), worked out from your 35 highest years of indexed earnings. This calculator does not estimate it.
- Enter it with your year of birth. Say whether you were born on January 1, because SSA then uses the rules for the year before.
- Pick two claiming ages to compare. Add a discount rate if you want to allow for the return you could earn on money received earlier.
Social Security claiming formula
Delayed: benefit = PIA × (1 + 2/3% × d), up to age 70
Break-even age = (B2 × A2 − B1 × A1) ÷ (B2 − B1)
m is the number of months you claim before your full retirement age (FRA) and d the number of months after it. These are the reduction rules in 20 CFR 404.410 and the delayed retirement credit of 8% a year for anyone born in 1943 or later. For the break-even age, B1 and B2 are the monthly benefits from the earlier and later claiming ages A1 and A2. It is the age at which the total paid from the later start catches up. Live longer and waiting pays more over your lifetime; die sooner and claiming early pays more.
Full retirement age by year of birth
| Born | Full retirement age | Benefit at 62 | Benefit at 70 |
|---|---|---|---|
| 1943–1954 | 66 | 75% | 132% |
| 1955 | 66 and 2 months | 74.2% | 130.7% |
| 1956 | 66 and 4 months | 73.3% | 129.3% |
| 1957 | 66 and 6 months | 72.5% | 128% |
| 1958 | 66 and 8 months | 71.7% | 126.7% |
| 1959 | 66 and 10 months | 70.8% | 125.3% |
| 1960 and later | 67 | 70% | 124% |
Percentages are of the full benefit (PIA). Sources: SSA normal retirement age, early retirement reduction and delayed retirement credits, checked October 19, 2026.
Worked example
You were born in 1964, so your full retirement age is 67, and your statement shows $2,000.00 a month at that age. Claiming at 62 is 60 months early: 36 × 5/9% + 24 × 5/12% = 30% off, so you would get $1,400.00. Waiting until 70 earns 36 months of credits, 24% more: $2,480.00. The later claim catches up at (2,480 × 840 − 1,400 × 744) ÷ (2,480 − 1,400) = 964.4 months, which is age 80 and 4 months. If you expect to live beyond about 80, waiting gives the larger lifetime total.
Break-even ages for common choices
The break-even age depends only on the claiming ages and your full retirement age, not on the size of your benefit.
| Compare | FRA 67 | FRA 67, 2% discount | FRA 66 |
|---|---|---|---|
| 62 vs 65 | 77 and 7 months | 80 | 77 and 3 months |
| 62 vs 67 | 78 and 8 months | 81 and 1 month | 78 and 4 months |
| 62 vs 70 | 80 and 4 months | 82 and 9 months | 80 and 6 months |
| 65 vs 70 | 81 and 7 months | 84 | 82 and 1 month |
| 67 vs 70 | 82 and 6 months | 84 and 10 months | 83 and 6 months |
What else to weigh
- Health and family history. The break-even age is a coin toss on longevity. Good health and long-lived parents argue for waiting.
- Your spouse. If you are the higher earner, waiting also raises the survivor benefit your spouse could receive after your death. Spousal benefits follow different reduction rules not covered here.
- Working before full retirement age. If you claim early and keep earning above the annual limit, SSA withholds some benefits until you reach full retirement age, then raises your benefit to make up for it.
- Credits arrive in January. Delayed credits earned in the year you start benefits are added the following January, so the first months can be slightly lower than the table.
- Plan with the rest of your income. Put the benefit you choose into the retirement calculator as other income, and see how withdrawals fit with required minimum distributions.
Frequently asked questions
How much less do I get if I claim Social Security at 62?
With a full retirement age of 67 (born 1960 or later), claiming at 62 cuts your benefit by 30%: 5/9 of 1% for each of the first 36 months early and 5/12 of 1% for each of the other 24. A $2,000 full benefit becomes $1,400 a month, for life.
How much more do I get by waiting until 70?
For anyone born in 1943 or later, each month you wait past full retirement age adds 2/3 of 1%, or 8% a year, until 70. With a full retirement age of 67, that is 24% more: $2,480 a month instead of $2,000. There is no gain from waiting beyond 70.
What is the break-even age for Social Security?
It is the age at which the total received from a later claim catches up with an earlier one. With a full retirement age of 67, claiming at 70 instead of 62 breaks even at about 80 and 4 months; 70 instead of 67 at about 82 and 6 months.
What is my full retirement age?
It is 66 if you were born from 1943 to 1954, rises by two months a year for 1955 to 1959 (66 and 10 months for 1959), and is 67 if you were born in 1960 or later. If you were born on January 1, SSA uses the previous year.
Can this calculator estimate my benefit from my earnings?
No. Your full-retirement-age benefit (primary insurance amount) depends on your 35 highest years of indexed earnings, and SSA calculates it for you. Get it from your statement at ssa.gov/myaccount, then use this calculator to compare claiming ages.