How to Use
- 1.
Get the estimated monthly retirement benefit at full retirement age from your my Social Security Statement.
- 2.
Enter your birth month and year so the calculator can estimate your full retirement age.
- 3.
Enter the FRA monthly benefit amount from your statement and choose a planning age.
- 4.
Move the claiming-age slider to compare a custom start age from 62 through 70.
- 5.
Compare monthly estimates, lifetime totals, and the simplified age-62 versus age-70 break-even age.
- 6.
Verify the assumptions and your official options with the Social Security Administration.
Features
Full retirement age estimate by birth year and birth month
Monthly worker benefit input from the user's SSA Statement
Claiming age comparison at 62, full retirement age, and 70
Custom claiming-age slider with month-level precision
Early retirement reduction and delayed retirement credit formulas
Monthly, annual, and planning-horizon cumulative estimates
Simplified age-62 versus age-70 cumulative break-even estimate
Copy results and print or save as PDF
No Social Security account connection or data upload
Frequently Asked Questions
How do I estimate my Social Security retirement benefit?+
For this calculator, use the monthly worker retirement estimate shown on your Social Security Statement at full retirement age. The tool applies claiming-age adjustments to that amount; it does not calculate your benefit from earnings history.
What is full retirement age for Social Security?+
Full retirement age depends on birth year. It is 67 for people born in 1960 or later and gradually increases for birth years 1938 through 1959. January 1 birthdays use the previous year under SSA's schedule.
How much does claiming at 62 reduce benefits?+
The reduction depends on the number of months before full retirement age. For worker benefits, the reduction is 5/9 of 1% per month for up to 36 months, and 5/12 of 1% per month for additional early months.
Do Social Security delayed credits continue after age 70?+
No. Delayed retirement credits stop at age 70. The monthly credit rate depends on birth year.
Does this estimate include spouse or survivor benefits?+
No. It estimates only a worker retirement benefit from the FRA amount you provide. Spouse, divorced-spouse, survivor, disability, and family benefits are not included.
Does it estimate my official SSA benefit from salary?+
No. SSA uses your covered earnings record and other rules. Enter the estimate from your Social Security Statement or use SSA's own calculators for an earnings-based estimate.
Are lifetime benefit totals guaranteed?+
No. Totals are simplified planning comparisons based on your entered life expectancy and a constant-purchasing-power assumption. Actual COLAs, taxes, work, health, eligibility, and life circumstances can change results.
About this tool
Free Social Security Benefits Calculator
Use this Social Security Benefits Calculator to compare an estimated worker retirement benefit at different claiming ages. Enter your birth month and year, the monthly benefit shown on your Social Security Statement at full retirement age, and a planning age. Review estimates for claiming at 62, your full retirement age, 70, and a custom age between 62 and 70.
## Start with your Social Security Statement
This tool does not have your covered earnings record and cannot calculate an official benefit from wages alone. For a useful estimate, sign in to your my Social Security account and use the monthly retirement estimate shown for your full retirement age. Enter that amount as the baseline. Estimates can depend on assumed future earnings, so check the assumptions shown by SSA before comparing.
## How claiming age changes a retirement benefit
Starting retirement benefits before full retirement age reduces the worker benefit for each month claimed early. For most current retirement planners, the first 36 early months reduce the full-retirement-age amount by 5/9 of 1 percent per month; earlier months beyond that use 5/12 of 1 percent. Delaying past full retirement age can add delayed retirement credits, which stop at age 70. The credit rate depends on birth year.
The calculator estimates full retirement age from birth year and month. People born on January 1 are treated using the previous birth year for the full-retirement-age schedule. Use the custom age slider to see a monthly estimate at an age between 62 and 70, including a month-level comparison.
## Compare monthly and lifetime estimates
The comparison shows an estimated monthly and annual amount at age 62, full retirement age, and age 70. It also estimates cumulative benefits through the planning age you enter. The simplified lifetime comparison holds purchasing power constant and does not apply future cost-of-living adjustments. A break-even age is shown for the age-62 versus age-70 cumulative estimates when the later claim catches up under those assumptions.
## Important assumptions and exclusions
These are planning estimates, not an SSA determination or financial advice. The calculation applies published worker retirement age adjustments to the FRA amount you enter. It does not calculate a benefit from earnings, model future earnings or wage indexing, apply the earnings test, estimate taxes, or determine spouse, divorced-spouse, survivor, disability, Medicare, or family benefits. It also does not forecast future COLAs or account for investment returns on benefits received earlier. Actual eligibility and payment amounts depend on your record and the rules that apply when you claim. Confirm with the Social Security Administration before making a decision.
To combine a benefit estimate with savings and withdrawal assumptions, use the Retirement Calculator. For a separate federal income-tax planning estimate, see the US Tax Refund Estimator, or browse more Calculators. Social Security tax treatment is not calculated by this tool.