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Estimate your Social Security retirement benefit based on your earnings and planned claiming age. See how delaying increases your monthly benefit.
Used to estimate your AIME
Primary Insurance Amount (PIA) — 2024 bend points:
90% of first $1,174 of AIME + 32% of $1,174–$7,078 + 15% of AIME above $7,078
Claiming before FRA (67) reduces benefit by up to 30%. Delaying past FRA increases benefit by 8% per year (up to age 70, +24% total).
Average Indexed Monthly Earnings (AIME) is the average of your 35 highest-earning years, indexed for wage inflation, divided by 12. The SSA uses AIME to calculate your Primary Insurance Amount (PIA). This calculator uses your current annual earnings as a simplified estimate.
Full retirement age is 67 for anyone born in 1960 or later. Claiming at FRA gives you 100% of your PIA. Claiming before FRA permanently reduces your benefit; claiming after FRA permanently increases it by 8% per year up to age 70.
Claiming at 62 gives 30% less but you collect for more years. The break-even vs. claiming at 67 is roughly age 79-80. If you expect to live past that, waiting is usually better financially. Health, financial need, and spousal benefits all factor into the decision.
For each year you delay past FRA (up to age 70), your benefit grows by 8%. Delaying from 67 to 70 increases your monthly benefit by 24%. This is a guaranteed, inflation-adjusted return that is hard to beat with other investments.
Up to 85% of benefits may be taxable depending on your combined income. If your combined income (AGI + nontaxable interest + half of SS) exceeds $34,000 (single) or $44,000 (married filing jointly), up to 85% of your benefits are subject to federal income tax.