Social Security retirement age calculator

What is my full retirement age?

66 if you were born from 1943 to 1954, rising by 2 months per year to 67 for anyone born in 1960 or later. If you were born on January 1, use the previous year.

How much less do I get if I claim at 62?

Benefits drop 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. With a full retirement age of 67, claiming at 62 pays 70%; at 65, 86.7%.

How much more if I wait past full retirement age?

For people born in 1943 or later, 2/3 of 1% for each month — 8% a year — until age 70. With a full retirement age of 67, waiting until 70 pays 124%.

How much can a spouse get?

Up to 50% of the worker’s full benefit at the spouse’s own full retirement age; claiming earlier reduces it, to 32.5% at 62 when full retirement age is 67.

Where do I find my full benefit?

Your Social Security statement at ssa.gov shows your benefit at full retirement age (the primary insurance amount). Enter it to see dollar amounts.

Does working while I claim early reduce my benefit?

If you claim before full retirement age and keep working, Social Security withholds part of your benefit once your earnings pass a yearly limit that changes each year. The withheld money is not lost for good: at full retirement age your monthly benefit is recalculated to credit the months that were withheld. The calculator does not model earnings; the current limits are on ssa.gov.

Does the percentage include cost-of-living increases?

No. The percentage is applied to your primary insurance amount, the benefit at full retirement age. Cost-of-living adjustments are added to the benefit each year after you become eligible, so a dollar figure you enter is a snapshot in today's terms, not a forecast.

How the percentage is worked out

Everything is counted in months from your full retirement age (FRA), which depends on the year of birth and is looked up first. If you claim earlier, the reduction is 5/9 of 1% for each of the first 36 months before FRA, plus 5/12 of 1% for each additional month. If you claim later, up to age 70, the delayed retirement credit is 2/3 of 1% per month after FRA for people born in 1943 or later. The calculator turns the months early or late into a percentage of your primary insurance amount (PIA) and multiplies it by the PIA you enter, rounded down to whole dollars. The figure is a monthly benefit before income tax and before any Medicare premium withheld.

Worked example: born in 1962, full benefit of $2,000

Anyone born in 1960 or later has an FRA of 67, which is 804 months. Claiming at 62 is 60 months early: the first 36 cost 36 × 5/9% = 20% and the other 24 cost 24 × 5/12% = 10%, so you receive 70.0%, or $1,400 a month. Claiming at 65 gives 86.7% ($1,733), at 67 exactly 100% ($2,000), and at 70 the credit of 36 × 2/3% = 24% gives 124.0% ($2,480). The monthly difference between claiming at 62 and at 70 is $1,080.

A different birth year

Full retirement age moves by two months for each birth year from 1955 to 1959. Someone born in 1957 has an FRA of 66 years and 6 months, so claiming at 62 is 54 months early and pays 72.5% of the full benefit. People born on January 1 are treated as born the previous year, so check that date carefully if your birthday is close to a boundary.

Common mistakes

Reading the percentage as a change in the total you will collect: a reduced benefit is paid for more months, so the best age depends on how long you live, on your health, and on a spouse's benefit, which this calculator does not weigh. Another mistake is entering a benefit estimate from an old statement and expecting it to reflect today's rules; use the primary insurance amount shown in your own account at ssa.gov. Finally, the spouse and survivor percentages are different from the retiree percentages, and the spouse figure shown here assumes the spouse is entitled on the worker's record only; a person who has their own larger benefit follows other rules.

Sources: Social Security Administration, pages on full retirement age and on the effect of claiming early or late; 20 CFR 404.409 (full retirement age), 404.410 (reduction for age) and 404.313 (delayed retirement credits). This page gives estimates only and is not financial advice; your Social Security statement at ssa.gov is the authority. Related: retirement calculator, 401(k) calculator and RMD calculator.

Estimates for planning only — not financial or tax advice. Official statements and your plan documents decide. How we check our calculators.