Social Security Calculator
Estimate your Social Security retirement benefit at every claiming age from 62 to 70, using the SSA's AIME, PIA and bend-point formulas.
How it works
Your benefit starts with your Average Indexed Monthly Earnings (AIME): your highest 35 years of earnings, each indexed for wage growth up to the year you turn 60, summed and divided by 420 months. Years before 60 are indexed with the national Average Wage Index; later years count at face value.
Your Primary Insurance Amount (PIA), the benefit at full retirement age, applies 90%, 32% and 15% to slices of AIME separated by two bend points set for the year you turn 62.
Claiming before full retirement age permanently reduces the benefit. Waiting past it adds 8% per year until age 70. The quick tab estimates AIME from an average salary; the detailed tab uses your year-by-year record.
Formula
AIME
Where:
- b1, b2
- = Bend points for your eligibility year (age 62)
- factor
- = −5/9% per month (first 36 early), −5/12% beyond; +2/3% per month delayed
Worked example
Someone born in 1964 (eligible in 2026, FRA 67) with an AIME of $5,000. Using the 2026 bend points of $1,286 and $7,749: PIA = 0.9 × 1,286 + 0.32 × (5,000 − 1,286) = $2,345.88, rounded down to $2,345.80.
Claiming at 62 is 60 months early: 36 × 5/9% + 24 × 5/12% = 30% reduction, so $2,345.80 × 0.70 = $1,642.06 per month.
Waiting until 70 adds 36 × 2/3% = 24%: $2,345.80 × 1.24 = $2,908.79. The break-even age between claiming at 62 and 70 is about 80 years 4 months.
Unlocking the Retirement Benefit Formula
Social Security benefits are not a flat percentage of your final salary; they are the result of a complex, three-part formula that uses your career-long earnings history. The government looks at your highest 35 years of work, adjusts those earnings for inflation (a process called indexing), and then averages them into a single monthly figure known as AIME. This calculator uses the official 'bend point' logic to show how your benefit is calculated. The first portion of your earnings is replaced at a high 90% rate, while higher earnings are replaced at lower rates of 32% and 15%. This structure is designed to provide a stronger safety net for lower earners while still scaling with higher career contributions.
One of the most critical decisions you will make is choosing your claiming age. While you can start as early as 62, doing so results in a permanent reduction of up to 30% compared to your Full Retirement Age (FRA). Conversely, waiting past your FRA earns you delayed retirement credits of 8% per year until age 70. This tool helps you visualize that trade-off by calculating your benefit at every possible age. By comparing the 'break-even' point, you can see how long you would need to live to make waiting for a larger check the more profitable financial move.
The Impact of Missing Work Years
A common mistake in retirement planning is underestimating the impact of zeros in your earnings record. Because the formula always averages 35 years, any year you didn't work counts as a zero. If you have only worked for 25 years, ten zeros will be averaged in, significantly dragging down your monthly check. By using the 'Detailed' tab in this calculator, you can enter your exact earnings history to see how each additional year of work might replace a zero or a low-earning year from your past, providing a much more accurate forecast than simple average-based estimates.
Frequently asked questions
It follows the SSA formulas, but your official record, future earnings, cost-of-living adjustments and policy changes all affect the real amount. Check your statement at ssa.gov/myaccount.
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For informational purposes only. This calculator does not provide financial advice. Consult a qualified professional before making decisions based on these results.