Social Security Calculator

How Benefits Are Calculated

1. Your 35 highest-earning years are indexed for inflation
2. Average Indexed Monthly Earnings (AIME) is calculated
3. Primary Insurance Amount (PIA) is determined using bend points
4. PIA is adjusted based on when you claim

Full Retirement Age (FRA)

• Born 1943-1954: Age 66
• Born 1955: Age 66 and 2 months
• Born 1956: Age 66 and 4 months
• Born 1957: Age 66 and 6 months
• Born 1958: Age 66 and 8 months
• Born 1959: Age 66 and 10 months
• Born 1960 or later: Age 67

Early vs Delayed Claiming

• At 62: Reduced by up to 30% (for FRA of 67)
• At FRA: Full benefit (100% of PIA)
• At 70: Increased by 24% (8% per year after FRA)
• No benefit increase after age 70

Spousal Benefits

• Spouse can receive up to 50% of workers PIA
• Must be at least 62 years old
• Reduced if claimed before spousal FRA
• Ex-spouses eligible if married 10+ years

Factors to Consider When Claiming

• Health and life expectancy
• Current financial need
• Other retirement income sources
• Spousal coordination strategies
• Tax implications (benefits may be taxable)

Important Note

This calculator provides estimates only. For your actual benefit amount, create a my Social Security account at ssa.gov to see your personalized estimate based on your actual earnings record.