Estimate your monthly Social Security retirement benefit using SSA bend points, your Full Retirement Age, and your chosen claim age between 62 and 70.
Approximates AIME (Average Indexed Monthly Earnings) from current income and years worked (capped at 2026 SSA wage base $176,100), applies 2026 bend points (90% / 32% / 15% at $1,226 and $7,391) to compute PIA, then adjusts for early reduction or Delayed Retirement Credits. Outputs monthly + annual benefit plus a side-by-side comparison at 62 / FRA / 70.
Disclaimer: Educational estimate only. The SSA personalized statement at ssa.gov/myaccount is authoritative. Up to 85% of benefits may be taxable depending on combined income.
Calculator information
📋 How to use this calculator
- Enter your current age, current annual income, and total years worked (Social Security uses highest 35 years of earnings).
- Specify your Full Retirement Age (FRA): 66 for those born 1943-1954, 67 for those born 1960+ (gradual phase-in between).
- Select your planned claim age (62 earliest, 67 typical FRA, 70 maximum delayed retirement credits).
- The calculator estimates your AIME (Average Indexed Monthly Earnings) and applies 2026 bend points to compute PIA (Primary Insurance Amount).
- View comparison: claiming at 62 (25-30% reduction), at FRA (full PIA), or 70 (24-32% bonus from delayed retirement credits).
- Tip: Check your official Social Security Statement at ssa.gov/myaccount for actual earnings history and personalized benefit estimates.
🧮 Social Security PIA Calculation
PIA = 90% x AIME_to_$1,226 + 32% x AIME_$1,226-$7,391 + 15% x AIME_above_$7,391
- AIME: Average Indexed Monthly Earnings (highest 35 years, indexed for wage inflation, divided by 420 months)
- Bend points (2026 estimates): $1,226 and $7,391 (adjusted annually for AWI)
- Early claim reduction: 5/9 of 1% per month for first 36 months before FRA, then 5/12 of 1% per additional month (up to 30% reduction at 62 for FRA 67)
- Delayed Retirement Credits: 8% per year between FRA and 70 (24-32% total bonus)
- Maximum taxable earnings (2026): $174,900 - earnings above this not counted
Spousal benefit up to 50% of higher-earner's PIA. Survivor benefit up to 100%. Working while claiming before FRA subject to earnings test ($22,320 limit in 2024, $1 deducted per $2 over).
💡 Worked example: 65-Year-Old with $90k Average Career Earnings
Given:- Currently age 65, Full Retirement Age 67 (born 1960)
- 35 years of work history
- Average indexed earnings $90,000/year
- Decision: claim at 62, 67, or 70?
Steps:- AIME = $90,000 / 12 = $7,500/month indexed earnings
- PIA calculation using 2026 bend points:
- Tier 1: 90% x $1,226 = $1,103.40
- Tier 2: 32% x ($7,391 - $1,226) = 32% x $6,165 = $1,972.80
- Tier 3: 15% x ($7,500 - $7,391) = 15% x $109 = $16.35
- PIA (monthly benefit at FRA 67): $1,103.40 + $1,972.80 + $16.35 = $3,092.55
- Claim at 62 (60 months early): 30% reduction = $3,092.55 x 0.70 = $2,164.79/month
- Claim at FRA 67: $3,092.55/month (full PIA)
- Claim at 70 (3 years late): +24% DRC = $3,092.55 x 1.24 = $3,834.76/month
- Lifetime comparison (to age 90): claim at 62 = $727k, FRA = $853k, age 70 = $920k (delayed wins if you live past ~80-82)
Result: Monthly benefits: $2,165 at age 62, $3,093 at FRA 67, $3,835 at age 70. Break-even between 62 and FRA is around age 78-80.
❓ Frequently asked questions
What is Full Retirement Age (FRA)?
Full Retirement Age is the age at which you receive 100% of your calculated benefit (PIA). FRA depends on birth year: born 1943-1954 = 66; 1955 = 66+2 months, increasing 2 months per year; 1960 and later = 67. Claiming before FRA reduces benefits permanently (up to 30% at age 62 if FRA is 67). Claiming after FRA earns Delayed Retirement Credits of 8% per year up to age 70. FRA for survivor benefits is slightly different (66 vs 67).
Should I claim Social Security at 62 or wait?
Depends on health, life expectancy, and other income sources. Claim early (62) if: poor health, no other income, spouse claims and you can switch to higher survivor benefit later, or you have a strong investment alternative. Delay (70) if: good health, longevity in family, sufficient other income to bridge years 62-70, or you are the higher earner in a couple (delaying maximizes survivor benefit). Break-even age between 62 and 70 is typically 80-82 - if you live past that, delaying wins financially.
How are Social Security benefits calculated?
SSA takes your highest 35 years of earnings, indexes each year for wage inflation, sums them, and divides by 420 months to get AIME (Average Indexed Monthly Earnings). AIME is then run through a progressive formula with bend points: 90% of the first portion, 32% of the middle portion, 15% of the top portion. This produces PIA (Primary Insurance Amount), your benefit at FRA. The formula is progressive to favor lower earners.
Can I work while collecting Social Security?
Yes, but with earnings test if you claim before FRA: in 2024, $1 deducted per $2 earned above $22,320 (under FRA all year), or $1 per $3 above $59,520 (year you reach FRA). After FRA, no earnings limit. Withheld benefits are recouped through a permanent increase to monthly benefit at FRA. Wages and self-employment count; pension, investment income, and retirement account withdrawals do not. Always continuing to work also increases your earnings record.
Are Social Security benefits taxable?
Up to 85% of benefits may be federally taxable depending on combined income (AGI + nontaxable interest + 50% of SS benefits). Thresholds: Single - up to 50% taxable above $25,000 combined income, up to 85% above $34,000. Married filing jointly - up to 50% above $32,000, up to 85% above $44,000. 41 states do not tax SS benefits; 9 states do (Colorado, Connecticut, Kansas, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont) with various exemptions. Thresholds are not indexed for inflation.
📚 Sources & references
Last updated: May 11, 2026
US Social Security Benefits Estimator 2026
Estimate your monthly and annual US Social Security retirement benefit based on birth year, earnings, years worked, and claim age. Uses the 2026 SSA bend-point formula and the official Full Retirement Age table.
SSA computes your Average Indexed Monthly Earnings (AIME) from your 35 highest-earning, inflation-adjusted years and applies a progressive bend-point formula (90% / 32% / 15%) to produce the Primary Insurance Amount (PIA) - your baseline monthly benefit at Full Retirement Age.
Claiming at age 62 permanently cuts your benefit by roughly 25-30%. Claiming at 70 adds roughly 24-32% (8% per year of Delayed Retirement Credits) on top of your PIA. The total gap between 62 and 70 can exceed 75%.
Up to 85% of your Social Security benefit can be federally taxable if combined income exceeds $34,000 (single) or $44,000 (MFJ). The file-and-suspend loophole was eliminated in 2016, so spouses can no longer double-dip.