Social Security Claiming Calculator
Compare your monthly benefit at every claiming age (62—70), find your break-even point, and see which age maximizes your lifetime income.
Used to determine your Full Retirement Age (FRA).
Find this on ssa.gov/myaccount under "Your Benefit Estimate".
Highlights the claiming age that maximizes your lifetime income.
When should you claim Social Security?
You can claim Social Security retirement benefits as early as age 62 or as late as age 70. Claiming early locks in a permanently reduced benefit; waiting earns delayed retirement credits that permanently increase your monthly payment. Not sure which age fits your situation? See Social Security 62 vs. 67 vs. 70: Which Age Should You Claim? for a full comparison with real worked examples.
What is Full Retirement Age (FRA)?
FRA is the age at which you receive 100% of your earned benefit with no reduction or bonus. It depends on your birth year:
| Birth Year | Full Retirement Age |
|---|---|
| 1943—1954 | 66 |
| 1955 | 66 years, 2 months |
| 1956 | 66 years, 4 months |
| 1957 | 66 years, 6 months |
| 1958 | 66 years, 8 months |
| 1959 | 66 years, 10 months |
| 1960+ | 67 |
How much is the reduction for claiming early?
For each month you claim before FRA: the first 36 months reduce your benefit by 5/9 of 1% per month (~6.7%/year), and any additional months reduce it by 5/12 of 1% per month (~5%/year). Claiming at 62 with FRA at 67 results in a 30% permanent reduction.
What are delayed retirement credits?
For every month you delay past FRA (up to age 70), your benefit increases by 2/3 of 1% per month — equal to 8% per year. Waiting from FRA 67 to 70 adds 24% to your monthly benefit permanently.