Social Security Calculator

Estimate monthly Social Security retirement benefits and see how claiming early (age 62) vs delayed (age 70) impacts your lifetime payments.

Calculator Inputs

yrs
Your current age.
$
Annual earnings subject to FICA.
Retirement claiming age.

Calculated Results

Monthly Benefit at Full Retirement Age (67)
$2,450.00 / month
Early Claim at Age 62 (-30%) $1,715.00 / mo
Delayed Claim at Age 70 (+24%) $3,038.00 / mo
Full Retirement Age (FRA) Age 67
Values calculate live as you adjust inputs.

About Social Security Calculator

Estimates Social Security retirement benefits based on Primary Insurance Amount (PIA) and age adjustment factors.

What is Social Security Calculator?

Estimates Social Security retirement benefits based on Primary Insurance Amount (PIA) and age adjustment factors.

How to Use This Calculator

  1. Enter your current age and salary.
  2. Choose your planned claiming age.
  3. Compare monthly income at age 62, 67, and 70.

The Mathematical Formula & Variables

Benefit = PIA * (1 - Early Reduction) or PIA * (1 + Delayed Credits)

Step-by-Step Worked Example

Scenario: Full retirement benefit (PIA) of $2,450 at age 67.

  1. Claiming at 62 reduces benefit by 30%: $2,450 * 0.70 = $1,715/mo.
  2. Delaying to 70 increases benefit by 8%/year (+24%): $2,450 * 1.24 = $3,038/mo.

Result: $2,450/mo at 67; $3,038/mo at 70

Frequently Asked Questions

How much does delaying Social Security increase payments?

For every year you delay claiming Social Security past full retirement age up to age 70, your benefit increases by 8% guaranteed per year.