Social Security Benefit Estimator
Estimate your US Social Security retirement benefit based on your earnings history and planned retirement age.
Understand the impact of claiming early vs. late.
How Social Security Benefits Are Calculated Social Security retirement benefits are based on your 35 highest-earning years, each adjusted for wage inflation using the Average Wage Index. The SSA calls this your Average Indexed Monthly Earnings (AIME). If you worked fewer than 35 years, zero-earning years are included in the average — one of the strongest incentives to work at least 35 years.
The Bend Point Formula The AIME is run through a progressive bend point formula that replaces a higher percentage of lower earners’ wages. For 2024: 90% of the first $1,174 of AIME, plus 32% of AIME between $1,174 and $7,078, plus 15% of any AIME above $7,078. This deliberate progressivity means lower-wage workers receive a higher replacement rate (often 50–60% of pre-retirement income) while higher earners receive a lower rate (often 25–35%). The result is your Primary Insurance Amount (PIA) — your benefit at Full Retirement Age.
Full Retirement Age (FRA) FRA is 67 for everyone born after 1960. It was 65 for those born before 1938 and gradually increased for years in between. At FRA, you receive exactly 100% of your PIA.
The Claiming Age Decision Claiming at 62 (the earliest possible age) permanently reduces your benefit by up to 30%. Each month before FRA that you claim reduces the benefit slightly. Waiting past FRA earns Delayed Retirement Credits: 8% per year (0.667% per month) up to age 70. Waiting from 67 to 70 adds 24% to your benefit permanently. The break-even age for claiming at 70 vs. 62 is approximately age 82–83 — if you expect to live past that, waiting pays off significantly.
Spousal and Survivor Benefits A spouse who has not worked can receive up to 50% of the higher earner’s PIA at FRA. A surviving spouse can receive 100% of the deceased spouse’s benefit. This makes the claiming decision for the higher earner especially important — delaying their claim maximizes both the household’s lifetime income and the survivor benefit.
This Is an Estimate Only This calculator uses a simplified formula and does not replicate the SSA’s exact computation. For a precise estimate based on your actual earnings record, create a free account at ssa.gov/myaccount.