How much is my benefit reduced if I claim early?

Benefits drop 5/9 of 1% for each of the first 36 months before full retirement age and 5/12 of 1% for each additional month. With an FRA of 67, claiming at 62 pays 70% of your full benefit.

How much do I gain by delaying?

For people born in 1943 or later, delayed retirement credits add 2/3 of 1% per month (8% per year) until age 70. With an FRA of 67, claiming at 70 pays 124%.

What is my full retirement age?

It is 66 for people born 1943–1954, rises by two months per birth year for 1955–1959, and is 67 for anyone born in 1960 or later.

What does the breakeven age mean?

The age at which total benefits from claiming at 70 catch up with total benefits from claiming at 62, ignoring cost-of-living adjustments and investment returns.

Are COLAs, taxes or spousal benefits included?

No. Amounts are in today’s dollars, before tax, and for your own retirement benefit only.

Social Security Benefits Estimator

Estimate your monthly Social Security retirement benefit at any claiming age from 62 to 70 using your full-retirement-age benefit, with lifetime totals and breakeven age.

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Monthly benefit at full retirement age ($)Your PIA, shown on your SSA statement

Birth year

Claiming age (years)

Life expectancy (age)

Full retirement age

67 years

Monthly benefit at your claiming age

$2,000.00

Adjustment vs full benefit

Monthly benefit at 62

$1,400.00

Monthly benefit at 70

$2,480.00

Lifetime benefits to life expectancy

$432,000.00

Breakeven age, 62 vs 70

80.4

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About Social Security Benefits Estimator

When you claim Social Security changes your check for life. Enter your benefit at full retirement age (from your SSA statement), birth year, planned claiming age and life expectancy to see your adjusted monthly benefit, the amounts at 62 and 70, lifetime benefits and the 62-vs-70 breakeven age.

How to use Social Security Benefits Estimator

Find your monthly benefit at full retirement age on your my Social Security statement and enter it.
Enter your birth year and the age you plan to claim.
Set your life expectancy to compare lifetime benefits and the breakeven age.

Key features

Full retirement age by birth year
Early-claiming reduction and delayed retirement credits
Benefit at 62 and 70 side by side
Lifetime benefits and 62-vs-70 breakeven age
Runs in your browser

Frequently asked questions

How much is my benefit reduced if I claim early?: Benefits drop 5/9 of 1% for each of the first 36 months before full retirement age and 5/12 of 1% for each additional month. With an FRA of 67, claiming at 62 pays 70% of your full benefit.
How much do I gain by delaying?: For people born in 1943 or later, delayed retirement credits add 2/3 of 1% per month (8% per year) until age 70. With an FRA of 67, claiming at 70 pays 124%.
What is my full retirement age?: It is 66 for people born 1943–1954, rises by two months per birth year for 1955–1959, and is 67 for anyone born in 1960 or later.
What does the breakeven age mean?: The age at which total benefits from claiming at 70 catch up with total benefits from claiming at 62, ignoring cost-of-living adjustments and investment returns.
Are COLAs, taxes or spousal benefits included?: No. Amounts are in today’s dollars, before tax, and for your own retirement benefit only.

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