Social Security Claiming Calculator

How claiming age changes your benefit

Your full retirement age (FRA) is 67 if you were born in 1960 or later (66 and 2–10 months for 1955–1959). Claiming at FRA pays 100% of your primary insurance amount (PIA).

• Before FRA: 5/9 of 1% less per month for the first 36 months, then 5/12 of 1% per extra month. At 62 with an FRA of 67, that is a permanent 30% cut.
• After FRA: delayed retirement credits add 2/3 of 1% per month (8% per year) up to age 70 — 124% of PIA if your FRA is 67.

Break-even age

Waiting wins if you live past the break-even age — usually around 78–83. Health, other income, and a spouse's survivor benefit (which is based on the higher earner's benefit) all matter.

2026 numbers

Benefits rose 2.8% in January 2026. The maximum benefit at full retirement age is $4,152 a month. If you work before FRA, $1 is withheld for every $2 earned above $24,480 ($1 per $3 above $65,160 in the year you reach FRA).

FAQ

Is it better to take Social Security at 62 or 70?

Claiming at 70 gives about 77% more per month than at 62 (for an FRA of 67). If you expect to live past roughly 80, waiting usually produces more lifetime income.

What is my full retirement age?

67 for anyone born in 1960 or later. For people born 1955–1959 it rises by two months per birth year from 66 and 2 months.

How much is Social Security reduced at 62?

With a full retirement age of 67, claiming at 62 permanently reduces your benefit by 30%.