Social Security Calculator
See how claiming between 62 and 70 changes your monthly benefit for life.
The short answer
How does claiming age change my Social Security benefit?
Claiming at 62 permanently reduces a benefit by about 30% versus a full retirement age of 67, while each year you delay past full retirement age adds roughly 8% until age 70, for about 24% more for life.
Estimates require your primary insurance amount — the benefit payable at full retirement age — which you can find in your my Social Security account at ssa.gov.
Who qualifies
Workers approaching retirement who want to compare claiming ages between 62 and 70.
How the process works
Enter your full-retirement-age benefit and a claiming age; the table shows every age side by side.
Typical timeline
Reductions and credits are permanent, applying for the rest of your life once you claim.
Cost and fees
Free and ungated — no email or payment required.
Credentials
Uses published SSA reduction and delayed-credit factors. Educational estimate only.
What happens next
Confirm your figure at ssa.gov, then coordinate the claiming decision with withdrawals and taxes.
Last reviewed: 2026-08-31
Your inputs
Find your full-retirement-age benefit in your my Social Security account at ssa.gov.
Your estimate
Estimated monthly benefit at age 67
$2,200
- Adjustment vs. full retirement age
- 0.0%
- Estimated annual benefit
- $26,400
Every claiming age
| Age | Adjustment | Monthly |
|---|---|---|
| 62 | -30.0% | $1,540 |
| 63 | -25.0% | $1,650 |
| 64 | -20.0% | $1,760 |
| 65 | -13.3% | $1,907 |
| 66 | -6.7% | $2,053 |
| 67 | 0.0% | $2,200 |
| 68 | 8.0% | $2,376 |
| 69 | 16.0% | $2,552 |
| 70 | 24.0% | $2,728 |
How this is calculated
Figures used: 2026 planning assumptions
Social Security starts from your primary insurance amount, the benefit payable at full retirement age. That amount comes from the highest 35 years of indexed earnings run through the SSA bend-point formula, which this tool does not recompute — you supply the figure from ssa.gov.
Claiming early reduces the benefit by about 6.67% for each of the first three years before full retirement age and about 5% for each additional early year. Claiming after full retirement age adds delayed retirement credits of about 8% per year up to age 70.
This model assumes a full retirement age of 67, which applies to people born in 1960 or later. It does not model spousal or survivor benefits, the earnings test before full retirement age, cost-of-living adjustments, Medicare premium deductions, or federal taxation of benefits.
| Claiming age | Adjustment to benefit |
|---|---|
| 62 | About −30% |
| 63 | About −25% |
| 64 | About −20% |
| 65 | About −13.3% |
| 66 | About −6.7% |
| 67 | 100% of PIA |
| 68 | About +8% |
| 69 | About +16% |
| 70 | About +24% |
Results are estimates for educational purposes only and are not tax, legal, or investment advice. Confirm current-year figures at IRS.gov or with a licensed professional.
Frequently asked questions
How much Social Security will I get?
Your benefit is based on the highest 35 years of indexed earnings, converted into a primary insurance amount at full retirement age, then adjusted up or down depending on whether you claim earlier or later than that age.
What is full retirement age?
Full retirement age is 67 for people born in 1960 or later, and between 66 and 67 for those born from 1955 to 1959. Claiming at full retirement age pays 100% of your primary insurance amount.
How much less do I get if I claim at 62?
Claiming at 62 with a full retirement age of 67 permanently reduces the monthly benefit by about 30%. The reduction is roughly 6.67% per year for the first three early years and 5% per year beyond that.
How much more do I get if I wait until 70?
Delayed retirement credits add about 8% per year between full retirement age and 70. With a full retirement age of 67, waiting until 70 increases the monthly benefit by roughly 24% for life.
Is Social Security taxable?
It can be. Depending on combined income — adjusted gross income plus nontaxable interest plus half of benefits — up to 50% or up to 85% of Social Security benefits may be included in federal taxable income.
Can I work while collecting Social Security?
Yes, but before full retirement age an earnings test temporarily withholds part of your benefit above an annual limit. Withheld amounts are credited back through a higher benefit once you reach full retirement age.
How accurate is a Social Security estimate?
An online estimate approximates the benefit formula. For your official figure, check your earnings record and personalized estimate in a my Social Security account at ssa.gov, which uses your actual reported wages.