GlenCalc

Social Security calculator

Find your benefit at full retirement age on your Social Security statement (at ssa.gov/myaccount). Enter it with your birth year to see what you would get claiming at each age, and how long you need to live for waiting to pay off.

From your Social Security statement (your primary insurance amount).

Your answer

Monthly benefit claiming at 67$2,400.00100% of your full benefit
Your full retirement age67 years
Break-even age versus claiming at 6278 years 9 months
  • Spousal and survivor benefits, the earnings test before full retirement age, and taxes on benefits are not included. COLA raises all claiming ages equally, so it doesn’t change the comparison.
Benefit by claiming age (today’s dollars)
Claim atMonthly% of fullTotal by age 85
62$1,680.0070%$463,680.00
63$1,800.0075%$475,200.00
64$1,920.0080%$483,840.00
65$2,080.0086.7%$499,200.00
66$2,240.0093.3%$510,720.00
67$2,400.00100%$518,400.00
68$2,592.00108%$528,768.00
69$2,784.00116%$534,528.00
70$2,976.00124%$535,680.00

Worked out in your browser. Nothing you type is sent to a server.

How we worked it out

Updated as you change the numbers.

  1. Full retirement age for 1,964: 67 years 0 months.
  2. Claiming at full retirement age: 100% of your benefit.

Method and assumptions

These are the reduction and delayed-credit rules in the Social Security Act: benefits fall by 5/9 of 1% for each of the first 36 months claimed before full retirement age and 5/12 of 1% for each month beyond that, and rise by 2/3 of 1% for each month you wait past full retirement age, until 70. Full retirement age is 67 for anyone born in 1960 or later. These rules are fixed in law; your own benefit amount comes from your SSA statement, so no yearly figures are stored here.

Questions

How much less is Social Security at 62 than at 67?

30% less: 70% of the full benefit. Waiting to 70 gives 124%.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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