Social Security Calculator
Personal Information
Benefit Analysis
Understanding Social Security Benefits
Social Security retirement benefits are monthly payments provided to eligible workers and their families. The amount you receive depends on your earnings history, the age you start collecting benefits, and other factors.
Key Factors Affecting Your Benefits
Retirement Age
Your monthly benefit amount can vary significantly based on the age you start receiving benefits. You can start receiving benefits as early as age 62or delay until age 70. Full retirement age is 67 for those born in 1960 or later.
Work History
Your benefit is based on your highest 35 years of earnings. Working longer and earning more can increase your benefit amount. Years with no earnings are counted as zeros in the calculation.
Important Considerations
- Early retirement can permanently reduce your benefits
- Delayed retirement credits increase your benefit amount
- Cost of Living Adjustments (COLA) help benefits keep pace with inflation
- Working while receiving benefits may affect your payment amount
This calculator provides estimates based on current rules and regulations. Actual benefits may vary based on changes in law, your earnings record, and other factors. For the most accurate information, create an account at www.ssa.gov.