How much will I get from Social Security at each age?
Start with your monthly benefit at full retirement age, from your Social Security statement. Each claiming age then pays a fixed share of it. This tool doesn't estimate the benefit from your earnings, because your statement uses your actual record and any estimate of ours would be less accurate.
| Claim at | % of full | $1,500 | $2,000 | $2,500 | $3,000 | $3,500 |
|---|---|---|---|---|---|---|
| 62 | 70% | $1,050 | $1,400 | $1,750 | $2,100 | $2,450 |
| 63 | 75% | $1,125 | $1,500 | $1,875 | $2,250 | $2,625 |
| 64 | 80% | $1,200 | $1,600 | $2,000 | $2,400 | $2,800 |
| 65 | 86.7% | $1,300 | $1,733 | $2,167 | $2,600 | $3,033 |
| 66 | 93.3% | $1,400 | $1,867 | $2,333 | $2,800 | $3,267 |
| 67 | 100% | $1,500 | $2,000 | $2,500 | $3,000 | $3,500 |
| 68 | 108% | $1,620 | $2,160 | $2,700 | $3,240 | $3,780 |
| 69 | 116% | $1,740 | $2,320 | $2,900 | $3,480 | $4,060 |
| 70 | 124% | $1,860 | $2,480 | $3,100 | $3,720 | $4,340 |
Full retirement age depends on your birth year. It's 66 for people born from 1943 through 1954, then rises by 2 months a year to 67 for anyone born in 1960 or later. A January 1 birthday counts with the year before, because the rules say you reach an age the day before your birthday.
| Born | Full retirement age | At 62 | At 70 |
|---|---|---|---|
| 1943 to 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 or later | 67 | 70% | 124% |
What is the Social Security early and delayed claiming formula?
Claiming early cuts your benefit by 5/9 of 1% for each of the first 36 months before full retirement age, and 5/12 of 1% for each month beyond that. Waiting past full retirement age adds 2/3 of 1% a month, or 8% a year, for anyone born after January 1, 1943, and those credits stop at 70.
Reduction % = (first 36 months × 5/9) + (months beyond 36 × 5/12)Increase % = months after full retirement age × 2/3, up to age 70At 62 with a full retirement age of 67, you're 60 months early. That's 36 × 5/9 = 20, plus 24 × 5/12 = 10, for a 30% cut. At 70, you're 36 months late: 36 × 2/3 = 24% more.
The regulation works its own example. A $980.50 benefit, with a full retirement age of 65 and 8 months, claimed 44 months early, is reduced 23.33%. After rounding the reduction up to the next 10 cents, it pays $751.70. This tool follows the same rounding. SSA also rounds the final payment down to a whole dollar after any Medicare premium, so your check can differ slightly.
What is the break-even age for 62 vs. 67 and 70?
Compared with 67, claiming at 62 pays $1,400 a month, or $84,000 before the later claim starts. The later claim's extra $600 a month then has to make that up, which takes until about age 78 and 8 months. Live past it and waiting paid more in total. Otherwise, claiming early did.
| Compare | Monthly gain from waiting | Paid before the later claim starts | Break-even age |
|---|---|---|---|
| 62 vs. 65 | $333 | $50,400 | 77 and 8 months |
| 62 vs. 67 | $600 | $84,000 | 78 and 8 months |
| 62 vs. 70 | $1,080 | $134,400 | 80 and 5 months |
| 65 vs. 67 | $267 | $41,599 | 80 |
| 65 vs. 70 | $747 | $103,998 | 81 and 8 months |
| 67 vs. 70 | $480 | $72,000 | 82 and 6 months |
| Claim at | By 75 | By 80 | By 85 | By 90 | By 95 |
|---|---|---|---|---|---|
| 62 | $218,400 | $302,400 | $386,400 | $470,400 | $554,400 |
| 67 | $192,000 | $312,000 | $432,000 | $552,000 | $672,000 |
| 70 | $148,800 | $297,600 | $446,400 | $595,200 | $744,000 |
Break-even is a useful test, and it's a poor way to make the decision on its own. It treats a dollar at 63 the same as a dollar at 85. The advanced options add a discount rate if you'd rather count early money as worth more. It also says nothing about the risk of outliving your savings. The larger check from waiting works like insurance for a long life, whereas the early claim pays off if your life is shorter.
How does claiming age affect a spouse or survivor?
This is the trap in single-person math. A widow or widower's benefit is based on the worker's benefit, and the regulation says delayed credits can raise it. So when the higher earner waits, the larger check can continue for the survivor. That can matter more than the higher earner's own break-even. 20 CFR 404.338 has the rule.
This tool doesn't model spousal or survivor benefits. Spousal benefits use a different reduction, 25/36 of 1% a month for the first 36 months. If you're married, divorced, or widowed, run each person's numbers here as a starting point, then ask SSA about your options before filing.
What can make this Social Security estimate wrong?
- Working while claiming. If you claim before full retirement age and keep working, the annual earnings test can reduce your benefits. This tool doesn't apply it.
- Income tax. Up to 50% of benefits can be taxable, or up to 85% in some cases, depending on your other income. IRS Publication 915 has the worksheet. Withdrawals from pre-tax accounts count toward that income, so your RMDs can matter.
- The first month. Before full retirement age, benefits begin with the first month you're that age for the whole month. Unless your birthday falls on the 1st or 2nd, "62" really means 62 and 1 month, so your first check is a little more than the table shows.
- When credits post. Delayed credits earned before the year you turn 70 are generally added the following January, so your first year can run a little lower than the table shows.
- Cost-of-living increases. These figures are in today's dollars, with none added. Your statement's estimate can also change if your earnings do.
To see how a claiming age fits with your savings, try the retirement calculator. If you plan to delay, the retirement withdrawal calculator can test drawing on savings until then. SSA can confirm your own numbers, and that's worth doing before you file, since this tool isn't connected to your record.
Common questions
How do I use this Social Security calculator?
Enter your monthly benefit at full retirement age from your Social Security statement and your birth year. Then pick two claiming ages to compare. The tool shows each benefit, the break-even age, and a table for every age from 62 to 70.
Can this calculator estimate my benefit from my earnings?
No. Benefits depend on your full earnings record, and this tool doesn't have it. Your Social Security statement already has that estimate, so use its figure.
Do I get a larger benefit if I wait past 70?
No. Delayed credits stop in the month you reach 70, so waiting longer adds nothing to your monthly amount. This tool treats any later age as 70.
What percentage do I get at 62?
It depends on your full retirement age: 75% if it's 66, and 70% if it's 67. Those come directly from the reduction formula above.
Is it better to claim at 62, 67, or 70?
There's no one answer. It depends on your health, your other income, whether you're still working, and your spouse's situation. This tool shows the trade-off in dollars. It doesn't recommend an age. A fee-only adviser or SSA can help with your case.
Does this work for disability benefits?
No. It covers retirement benefits only. Disability has different rules, and this tool doesn't model them.
Sources
- 20 CFR 404.410: How does SSA reduce my benefits when my entitlement begins before full retirement age? · Legal Information Institute
- 20 CFR 404.313: What are delayed retirement credits and how do they increase my old-age benefit amount? · Legal Information Institute
- 20 CFR 404.409: What is full retirement age? · Legal Information Institute
- 20 CFR 404.338: Widow's and widower's benefits amounts · Legal Information Institute
- 20 CFR 404.415: Deductions because of excess earnings · Legal Information Institute
- Publication 915: Social Security and Equivalent Railroad Retirement Benefits · Internal Revenue Service