Power Calculators

🏛️ Social Security Benefits Calculator: When to Claim

Claim at 62, 67 or 70? See how your monthly Social Security check changes.

By the Power Calculators team Updated

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Enter details

Any age from 62 to 70; decimals allowed, e.g. 66.5.

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Fill in the details and click Calculate to see your results.

Formula at a glance

Social Security Calculator: PIA — 90% × first $1,286 + 32% × up to $7,749 + 15% × rest of AIME. Example: Born 1965, $70,000 a year, claim at 67 → Estimated monthly benefit at 67: $2,613
How the Social Security Calculator works: PIA — 90% × first $1,286 + 32% × up to $7,749 + 15% × rest of AIME

📱 Also in our Android apps

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  • Financial CalculatorEMI, SIP, PPF, NPS, post office schemes and government-employee calculatorsGet it on Google Play
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📘 About the Social Security Calculator

Your benefit is based on your 35 highest years of earnings, averaged and indexed (AIME). The 2026 formula pays 90% of the first $1,286 a month, 32% up to $7,749 and 15% above — your primary insurance amount (PIA), paid at full retirement age (67 for anyone born in 1960 or later).

Claiming early at 62 cuts the benefit by up to 30% for life; every year you wait past full retirement age adds 8% until 70. The calculator also shows the age at which waiting until 70 pays off.

🧮 Formula

PIA
90% × first $1,286 + 32% × up to $7,749 + 15% × rest of AIME
Early
−5/9% a month (first 36), −5/12% after
Delayed
+2/3% a month (8% a year) to 70

✏️ Worked examples

Born 1965, $70,000 a year, claim at 67

You enter
Year of birth1965
Average yearly earnings (today's dollars)70,000 $
Years worked (up to 35)35 years
Or: benefit at full retirement age from your SSA statement0 $
Age you plan to claim67 years
You get
Estimated monthly benefit at 67$2,613
Yearly$31,351
Full retirement age67
Benefit at full retirement age (PIA)$2,613 a month
Average indexed monthly earnings (AIME)$5,833
Waiting to 70 beats claiming at 62 if you live pastabout age 80

$2,613.

Same person claiming at 62

You enter
Year of birth1965
Average yearly earnings (today's dollars)70,000 $
Years worked (up to 35)35 years
Or: benefit at full retirement age from your SSA statement0 $
Age you plan to claim62 years
You get
Estimated monthly benefit at 62$1,829
Yearly$21,945
Full retirement age67
Benefit at full retirement age (PIA)$2,613 a month
Average indexed monthly earnings (AIME)$5,833
Waiting to 70 beats claiming at 62 if you live pastabout age 80
Earnings test before full retirement age$1 withheld for every $2 earned over $24,480

$1,829.

🧭 How to use this calculator

What you enter

  • Year of birth
  • Average yearly earnings (today's dollars) ($)
  • Years worked (up to 35) (years)
  • Or: benefit at full retirement age from your SSA statement ($)
  • Age you plan to claim (years)Any age from 62 to 70; decimals allowed, e.g. 66.5.

What you get

  • Estimated monthly benefit at 67
  • Yearly
  • Full retirement age
  • Benefit at full retirement age (PIA)
  • Average indexed monthly earnings (AIME)
  • Waiting to 70 beats claiming at 62 if you live past

❓ Frequently asked questions

What is the maximum Social Security benefit in 2026?

$4,152 a month at full retirement age, $2,969 at 62 and $5,181 at 70.

How much did Social Security increase for 2026?

The cost-of-living adjustment was 2.8%.

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

Waiting to 70 gives about 77% more a month than 62 (for full retirement age 67). If you expect to live past about 80, waiting usually pays more in total.

Can I work and get Social Security?

Yes, but before full retirement age $1 is withheld for every $2 earned over $24,480 in 2026. Withheld money is added back later.

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