Social Security Calculator - Benefit at 62, FRA and 70 (2026)
Estimate Social Security retirement benefits at age 62, full retirement age and 70 using 2026 bend points and claiming-age adjustments.
With $75,000 average covered earnings over 35 years, average indexed monthly earnings are about $6,250 and estimated PIA at 67 is about $2,480. Claiming at 62 pays $1,736 (70% of PIA, a $744 monthly reduction for 60 early months), while delaying to 70 pays $3,075 (124% of PIA, $595 extra). According to SSA, the 2026 bend points are $1,286 and $7,749 and FRA is 67 for those born 1960 or later, with 8% delayed credits yearly to 70. This assumes a constant PIA and no future COLAs; past COLAs do not predict future. Enter your earnings below.
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How to Use the Social Security Calculator
Enter Birth Year for Full Retirement Age
Enter 1960 or later for FRA 67, 1955 for 66 and 2 months, 1970 for 67. FRA sets the unreduced PIA point and the 30% reduction at 62 or 24% increase at 70.
Add Average Annual Covered Earnings
Enter $75,000 average wage-indexed earnings for 35 years to get $6,250 AIME. At $50,000 the AIME is $4,167 and PIA is about $1,880; at $100,000 the AIME is $8,333 and PIA hits the 32% band.
Enter Years of Covered Work
Enter 35 years to avoid zeros; with 30 years, SSA inserts 5 zero years and AIME falls from $6,250 to $5,357, cutting PIA by about $286.
Review Benefit at 62, FRA and 70
Check $1,736 at 62, $2,480 at 67 and $3,075 at 70 on the $2,480 PIA example, a $1,339 monthly spread for the same earnings history.
Test Life Expectancy
Enter 85 to see lifetime totals: $1,736×276 months to 85 from 62 is $479,136 versus $3,075×180 months from 70 is $553,500, a $74,364 lifetime gain for delaying if you reach 85.
Estimated Monthly Benefit by Claim Age, FRA 67 and PIA $2,480 (2026)
| Claim age | Percent of PIA | Monthly benefit | vs FRA 67 | Annual |
|---|---|---|---|---|
| 62 (earliest) | 70.0% | $1,736 | −$744/mo | $20,832 |
| 63 | 75.0% | $1,860 | −$620 | $22,320 |
| 64 | 80.0% | $1,984 | −$496 | $23,808 |
| 65 | 86.7% | $2,150 | −$330 | $25,800 |
| 66 | 93.3% | $2,314 | −$166 | $27,768 |
| 67 (FRA) | 100.0% | $2,480 | $0 | $29,760 |
| 68 | 108.0% | $2,678 | +$198 | $32,136 |
| 69 | 116.0% | $2,877 | +$397 | $34,524 |
| 70 (max) | 124.0% | $3,075 | +$595 | $36,900 |
How Is My Social Security Benefit Actually Calculated?
Social Security wage-indexes each year of covered earnings for national wage growth, picks the highest 35 years, sums them and divides by 420 months to get AIME. The PIA formula then applies 2026 bend points: 90% of the first $1,286 of AIME, 32% of the amount from $1,286 to $7,749 and 15% above $7,749 (Source: SSA, ssa.gov/oact/cola/bendpoints.html — 2026 bend points). AIME of $6,250 from $75,000×35/420 gives PIA about $2,480 in the simplified model that skips year-by-year indexing. Thirty years instead of 35 inserts 5 zero years, dropping AIME to $5,357 and PIA to about $2,194, a $286 monthly loss. The $1,736 at 62 versus $3,075 at 70 is a $1,339 monthly spread on the same $2,480 PIA, and lifetime to 85 is $479,136 at 62 versus $553,500 at 70, so delaying wins by $74,364 only if you reach 85, while to 78 early claiming wins.
Check the 35-year selection with the Retirement Savings Calculator to see how extra working years also add savings, not just AIME.
Should I Claim at 62, Full Retirement Age or 70?
Claiming at 62 for FRA 67 is 60 months early, permanently reduced by 30% (5/9% per month for 36 months =20% plus 5/12% for 24 months =10%). Delaying to 70 adds 8% per year after FRA (2/3% per month) for 124% at 70. On the $2,480 PIA example, that is $1,736 at 62, $2,480 at 67 and $3,075 at 70, a $1,339 monthly spread for the same earnings history.
| Claim age | Percent | Monthly | Lifetime to 85 |
|---|---|---|---|
| 62 | 70% | $1,736 | $479,136 (276 mo) |
| 67 | 100% | $2,480 | $535,680 (216 mo) |
| 70 | 124% | $3,075 | $553,500 (180 mo) |
To 85, 70 beats 62 by $74,364, but to 78, 62 beats 70 because the larger checks have fewer years. Health, survivor benefits for a spouse and taxes decide more than the break-even age of about 81. Estimated benefits use today dollars; future COLAs are not included.
Will Working Longer or Earning More Increase My Benefit?
Yes, if the new year replaces a lower or zero year in the top 35. Replacing five $0 years (30-year work history) with five $75,000 years raises the 35-year sum by $375,000, raising AIME by $893 and PIA by about $286 (32% of $893) in the 32% bend, about $3,432 yearly and $286 monthly for life. Earning above the taxable maximum ($176,100 in 2026) does not raise that year’s credited earnings further; the extra is not wage-indexed for AIME.
Working from 62 to 67 while delaying claiming adds both higher AIME and delayed credits: five $75,000 years can lift PIA from $2,194 (30-year) to $2,480 and claiming at 70 adds 24% to $3,075, nearly doubling the age-62 $1,536 on the lower AIME. Verify earnings on your Social Security Statement at ssa.gov.
How Are Benefits Taxed and What About Working While Receiving Benefits?
Up to 85% of benefits can become taxable based on combined income (AGI + nontaxable interest + half of benefits). Single filers with combined income below $25,000 pay no tax on benefits, $25k-$34k up to 50% and above $34k up to 85% (Source: SSA — ssa.gov/benefits/retirement/planner/taxes.html). On $1,736 at 62 plus $20,000 other income, combined is about $20,868, so 0% of benefits are taxable.
Before FRA, the retirement earnings test withholds $1 for every $2 above $24,480 in 2026 (and $1 for $3 above $65,160 in the year you reach FRA) per SSA, but withheld benefits are later recomputed, not permanently lost. Medicare premiums can also rise with modified AGI via IRMAA two years later. Past COLAs (e.g., 3.2% in 2024) do not predict future.
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