Social Security Calculator 2026
Estimate monthly Social Security benefits at ages 62, 67, and 70 using SSA bend point formula.
Claiming Social Security at 62 permanently reduces your benefit by up to 30% versus waiting until your Full Retirement Age (67 for those born in 1960 or later). Delaying to age 70 increases your benefit by 8% per year above FRA — a 24% total increase over FRA and 77% more than at 62.
Monthly Benefit at Age 67
$2,680.92
Benefit at Age 62
$1,787.28
Benefit at Age 67 (FRA)
$2,680.92
Benefit at Age 70
$3,324.34
2026 SSA bend points: $1,174 and $7,078. FRA is 67 for those born 1960+.
2026 SSA bend points: $1,174 and $7,078. FRA is 67 for those born 1960+.
About This Calculator
Social Security retirement benefits are calculated from your highest 35 years of indexed earnings. The Social Security Administration applies a progressive formula with "bend points" to replace a higher proportion of lower earnings. In 2026, the bend points are $1,174 and $7,078 per month.
The claiming age decision is the most financially significant retirement choice most Americans make. Break-even analysis typically shows that if you live past age 78–82, waiting until 67 or 70 pays more in total lifetime benefits. If you have health concerns or no other income, claiming early may make sense.
For married couples, Social Security strategy becomes even more complex: a higher-earning spouse delaying to 70 maximizes the survivor benefit — the amount the surviving spouse receives for the rest of their life. This can increase lifetime household benefits by $50,000–$200,000+.
How to Use
- 1Enter your birth year to determine your Full Retirement Age (FRA). For those born in 1960+, FRA is 67.
- 2Enter your average annual income over your career. The calculator uses your earnings to estimate your AIME.
- 3Select the age you plan to claim Social Security (62 through 70).
- 4Review your estimated monthly benefit, the reduction or credit applied, and cumulative lifetime benefit at each claiming age.
Formula & Methodology
Social Security benefit = 90% of first $1,174 of AIME + 32% of AIME between $1,174 and $7,078 + 15% of AIME above $7,078. AIME = Average Indexed Monthly Earnings (highest 35 years). Early claiming reduces by 5/9% per month for first 36 months, then 5/12% per month. Delayed credits add 8%/year above FRA.
Frequently Asked Questions
What is Full Retirement Age (FRA) for Social Security?
FRA depends on your birth year. Born 1943-1954: FRA is 66. Born 1955-1959: FRA is 66 years and 2-10 months. Born 1960 or later: FRA is 67. Claiming before FRA permanently reduces your benefit; claiming after FRA earns delayed retirement credits.
How much does Social Security pay if I claim at 62?
Claiming at 62 (the earliest possible age) reduces your benefit by 25–30% versus FRA, depending on your birth year. For someone with an FRA benefit of $2,000/month, claiming at 62 yields approximately $1,400–$1,500/month for life.
Should I claim Social Security at 62 or wait?
If you have good health and other retirement income to bridge the gap, waiting until 67 or 70 generally produces more total lifetime benefits if you live past 78–82. If you have health concerns, limited savings, or no other income, claiming at 62 may be necessary. For married couples, the higher earner should almost always delay to maximize the survivor benefit.
Can I collect Social Security and still work?
Yes, but if you claim before FRA, Social Security withholds $1 for every $2 you earn above $22,320 (2026 limit). In the year you reach FRA, the limit rises to $59,520 and only $1 is withheld per $3 earned above that. After FRA, there is no earnings limit whatsoever.
How is Social Security taxed?
Up to 85% of your Social Security benefit may be taxable at the federal level, depending on your "combined income" (AGI + non-taxable interest + half your Social Security). If combined income exceeds $25,000 (single) or $32,000 (married), some benefits are taxed. Thirteen states also tax Social Security benefits.
Sources & References
Last updated: 2026-04-12