# Social Security Calculator

Estimate your monthly Social Security retirement benefit based on earnings and claiming age. Uses the AIME bend point formula. Free benefit calculator.

## What this calculates

Get a quick estimate of your monthly Social Security retirement benefit. Enter your average annual earnings and the age you plan to claim, and see how your benefit changes based on when you start collecting. Note: this is a simplified estimate for planning purposes.

## Inputs

- **Average Annual Earnings** ($) — min 0 — Your average annual earnings over your 35 highest-earning years.
- **Claiming Age** — options: 62 (earliest, reduced benefit), 63, 64, 65, 66, 67 (full retirement age), 68, 69, 70 (maximum benefit) — Full retirement age is 67 for those born in 1960 or later.

## Outputs

- **Estimated Monthly Benefit** — formatted as currency — Your estimated Social Security benefit per month.
- **Estimated Annual Benefit** — formatted as currency — Your estimated benefit per year.
- **Average Indexed Monthly Earnings** — formatted as currency — Your AIME used in the benefit formula.
- **Primary Insurance Amount (PIA)** — formatted as currency — Your benefit at full retirement age (67) before adjustments.

## Details

Social Security calculates your benefit using your Average Indexed Monthly Earnings (AIME) from your 35 highest-earning years. The AIME feeds into a progressive formula with two bend points that replaces a higher percentage of income for lower earners.

The 2025 formula replaces 90% of the first $1,174 in AIME, 32% of AIME between $1,174 and $7,078, and 15% of any AIME above $7,078. This produces your Primary Insurance Amount (PIA), which is your monthly benefit if you claim at your full retirement age of 67.

Claiming age makes a big difference. Claiming at 62 permanently reduces your benefit by about 30%. Waiting until 70 increases it by 24% above your PIA, thanks to delayed retirement credits of 8% per year. For someone with a PIA of $2,500, that means $1,750/month at 62 versus $3,100/month at 70. The breakeven point is typically around age 80 -- if you expect to live past 80, delaying usually pays off.

## Frequently Asked Questions

**Q: What is full retirement age for Social Security?**

A: Full retirement age (FRA) is 67 for anyone born in 1960 or later. For those born between 1943 and 1959, FRA ranges from 66 to 66 and 10 months. Claiming before your FRA permanently reduces your benefit, while delaying past FRA earns delayed retirement credits of 8% per year up to age 70.

**Q: How much does Social Security reduce if I claim at 62?**

A: Claiming at 62 (with an FRA of 67) reduces your benefit by about 30%. The reduction is 6.67% per year for the first three years before FRA and 5% per year for any additional years. This reduction is permanent. For a $2,500 PIA, claiming at 62 gives you roughly $1,750 per month.

**Q: How are Social Security benefits calculated?**

A: SSA averages your 35 highest-earning years (adjusted for inflation) and divides by 12 to get your AIME. The benefit formula applies three tiers: 90% of the first $1,174, 32% of earnings between $1,174 and $7,078, and 15% above $7,078 (2025 bend points). The result is your PIA, then adjusted for claiming age.

**Q: Is this calculator exact?**

A: This provides a simplified estimate for planning purposes. The actual SSA calculation uses indexed earnings for each specific year, accounts for your exact birth year for FRA determination, and applies annual cost-of-living adjustments (COLA). For the most accurate estimate, create an account at ssa.gov and use their official calculator.

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Source: https://vastcalc.com/calculators/finance/social-security
Category: Finance
Last updated: 2026-04-08