How this calculator works
Your Social Security retirement benefit is built from your lifetime earnings record. SSA averages your best 35 years of earnings, runs that average through a formula that favors lower earners, and then raises or lowers the result depending on the age you claim. This calculator follows the same three steps in simplified form.
The inputs. Enter your average annual earnings over your top 35 working years, in today's dollars. If you worked fewer than 35 years, the missing years count as zero, so include them in the average. If you already know your Average Indexed Monthly Earnings (AIME), you can enter it directly. Then enter your birth year and the age at which you plan to claim.
Step 1: AIME. The tool divides your average annual earnings by 12. Any one year above the taxable maximum does not count, so the yearly figure is capped at the 2027 wage base of $192,300 (a monthly cap of $16,025).
Step 2: Primary Insurance Amount (PIA). This is your benefit at full retirement age (FRA). Using the 2027 bend points for people who turn 62 in 2027:
- 90% of the first $1,340 of AIME, plus
- 32% of AIME between $1,340 and $8,077, plus
- 15% of AIME above $8,077.
Step 3: Claiming-age adjustment. Claiming before FRA reduces the benefit by 5/9 of 1% for each of the first 36 months early and 5/12 of 1% for each month beyond that. Waiting past FRA adds delayed retirement credits of 2/3 of 1% per month (8% a year) up to age 70. With an FRA of 67, claiming at 62 pays 70% of PIA and claiming at 70 pays 124%. Our full retirement age calculator shows your exact FRA.
Worked example. Linda was born in 1965, so she turns 62 in 2027 and her FRA is 67. Her top 35 years average $60,000 in today's dollars.
| Step | Calculation | Result |
|---|---|---|
| AIME | $60,000 ÷ 12 | $5,000 |
| First tier | 90% × $1,340 | $1,206.00 |
| Second tier | 32% × ($5,000 − $1,340) = 32% × $3,660 | $1,171.20 |
| PIA at 67 | $1,206.00 + $1,171.20 | $2,377.20 |
| Claim at 62 | 70% × $2,377.20 | about $1,664 |
| Claim at 70 | 124% × $2,377.20 | about $2,947 |
Her AIME does not reach the second bend point, so no 15% tier applies. The difference between claiming at 62 and 70 is more than $1,280 a month for life, which is why the claiming decision matters so much. To compare the lifetime totals, try our when to claim calculator, and for a fuller explanation of the formula read how Social Security benefits are calculated.
Limits of this estimate. SSA indexes each year of your past earnings to wage growth before averaging; this tool assumes you have already expressed your earnings in today's dollars and does not index year by year. It uses the 2027 bend points, which apply exactly only to people first eligible in 2027. It also ignores future COLAs, future earnings and SSA's rounding rules. The maximum benefit at FRA in 2027 is $4,188 a month. For a figure based on your actual record, sign in to my Social Security and view your Social Security Statement.
Frequently asked questions
What if I worked fewer than 35 years?
SSA still divides by 35 years (420 months), so each missing year counts as zero. Working additional years, even part time, can replace those zeros and raise your benefit.
What is a bend point?
Bend points are the dollar amounts where the percentage in the PIA formula changes. For people turning 62 in 2027 they are $1,340 and $8,077 of monthly earnings. They are set by the year you turn 62, not the year you claim.
Do I need 40 credits to qualify?
Yes, retirement benefits generally require 40 work credits, about 10 years of work. In 2027 you earn one credit for each $1,970 of covered earnings, up to four credits a year.
Does WEP or GPO still reduce benefits?
No. The Social Security Fairness Act, signed January 5, 2025, repealed the Windfall Elimination Provision and Government Pension Offset, so this calculator does not apply them.
Sources
Want the full picture? Read our guide: How Social Security Calculates Your Benefit: AIME, PIA and Bend Points.
Read the guideThis calculator gives an estimate for educational purposes. Your actual amount is set by the agency that pays it. See our disclaimer and methodology.