Social Security Calculator
Estimate your monthly Social Security retirement benefit from your average indexed monthly earnings and chosen claiming age.
Example
With an average indexed monthly earnings (AIME) of $6,000 and claiming at full retirement age 67:
- 90% of the first $1,174 = $1,056.60
- 32% of $4,826 ($1,174 to $6,000) = $1,544.32
- 15% above $7,078 = $0.00
Primary Insurance Amount (PIA) = $2,600.92 per month. Claiming early at 62 (60 months early) reduces this by 30% to about $1,820.64; delaying to 70 raises it 24% to about $3,225.14.
How it works
Enter your average indexed monthly earnings (AIME) and the age you plan to claim. We apply the 2024 bend-point PIA formula, then adjust for claiming before or after your full retirement age of 67.
Good to know
The Social Security Calculator turns a single number — your average indexed monthly earnings (AIME) — into an estimated monthly retirement benefit by running it through the 2024 Primary Insurance Amount (PIA) formula and then adjusting for the age you plan to claim. It's aimed at workers in the planning stage who already know their AIME (or a close approximation) and want to see how the benefit formula and claiming timing interact, without logging into any account or sharing data.
Reach for it when you're weighing whether to claim at 62, wait until your full retirement age of 67, or hold out to 70. Because it shows the PIA separately from the claiming adjustment, you can keep your earnings figure fixed and toggle only the claiming age to isolate exactly how much the timing decision adds or subtracts each month and across a full year.
To read the result: the big number is your adjusted monthly benefit, "Full retirement benefit (PIA)" is what you'd get at 67, and "Claiming adjustment" is the percentage penalty (negative, down to about -30% at 62) or credit (positive, up to +24% at 70). The three bars break the PIA into its formula tiers, showing how the 90%, 32%, and 15% rates apply to successive slices of your AIME — which is why higher earnings replace a progressively smaller share of income.
A practical caveat: this tool starts from AIME rather than computing it from your work history, so the accuracy of the output depends entirely on the accuracy of that input. The fixed 2024 bend points ($1,174 and $7,078) and full retirement age of 67 won't match every birth year or future year, and the estimate omits cost-of-living adjustments, spousal and survivor benefits, and earnings-test reductions — pull your official figures from your my Social Security account for anything you rely on.
Frequently asked questions
What is AIME and where do I find it?
AIME is your Average Indexed Monthly Earnings: your highest 35 years of inflation-indexed wages, totaled and divided by 420 months. The SSA calculates it from your earnings record, which you can view in your my Social Security account. This tool takes AIME as the input rather than computing it from your full work history.
Why does my claiming age change the benefit so much?
Social Security rewards waiting. Your PIA is the benefit at full retirement age (67 here). Claiming earlier permanently reduces it (about 30% less at 62), while delaying past 67 adds roughly 8% per year up to age 70 in delayed retirement credits, capping at +24%.
Is my data uploaded anywhere?
No — this calculator runs entirely in your browser; nothing is uploaded.
Is this financial advice?
No. These are educational estimates — consult a qualified financial professional before making decisions.
People also ask
How accurate is an online Social Security benefit estimate?
An estimate is only as accurate as the AIME you enter and the assumptions baked into the formula. This tool uses fixed 2024 bend points and a full retirement age of 67, and it leaves out cost-of-living adjustments, the earnings test, and spousal or survivor benefits, so it gives a ballpark rather than an official figure.
What are Social Security bend points and how do they work?
Bend points are the dollar thresholds that split your AIME into tiers, each replaced at a different rate. In the 2024 formula used here, 90% of the first $1,174, 32% of the amount between $1,174 and $7,078, and 15% above $7,078 are added together to produce your PIA.
Is it better to take Social Security at 62 or wait?
Claiming at 62 gives you payments sooner but permanently reduces your monthly benefit by roughly 30% versus full retirement age, while waiting past 67 adds about 8% per year up to age 70. Which is better depends on factors like life expectancy, other income, and immediate cash needs; this calculator only shows the math, not a recommendation.
What is full retirement age for Social Security?
Full retirement age is when you can claim your unreduced PIA. This calculator assumes age 67, which applies to people born in 1960 or later; earlier birth years have a slightly lower full retirement age.
Why does my benefit barely increase when my earnings are very high?
The formula is progressive: the highest slice of AIME (above $7,078) is replaced at only 15%, compared with 90% on the first tier. So each additional dollar of indexed earnings adds far less to your benefit once you're in the top bracket, which the tool's tiered bars illustrate.
Does waiting until 70 to claim Social Security keep increasing my benefit?
Delayed retirement credits accrue up to age 70 and then stop. In this calculator delaying from 67 to 70 raises the benefit by the maximum 24%, and claiming after 70 provides no further increase.
How is AIME different from my current salary?
AIME is based on your highest 35 years of inflation-indexed earnings divided by 420 months, not your latest paycheck. It smooths a full career into one monthly figure, so it usually differs from any single year's salary, especially if you had lower-earning or zero-earning years.
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