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Social Security by Claiming Age: 62 to 70
The share of your benefit you get at each age from 62 to 70, and the estimated monthly payment on $60,000 of average earnings.
Your work record
Estimated monthly benefit
$2,479
| Average monthly earnings (AIME) | $5,417 |
| Benefit at full retirement age (PIA) | $2,479.20 |
| Your full retirement age | 67 |
| At 62 | $1,735 |
| At 70 | $3,074 |
| A year at the age you chose | $29,748 |
The 2026 formula pays 90% of the first $1,286 of your average monthly earnings, 32% up to $7,749 and 15% above that. Claiming before full retirement age cuts the benefit for life (up to 30% at 62); each year you wait after it adds 8% until 70. You need 40 credits (about 10 years of work).
Rules last checked October 2026. Simple estimate in today's dollars, without inflation indexing or spousal benefits. Not legal, tax or financial advice. 🔒 Everything stays on your device.
✅ Rules last checked:
📚 Official sources: SSA: benefit formula · SSA: retirement age
We build every tool from the official rules and re-check them when they change. Always confirm with the official source before you rely on a result.
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Every age in one table
| Age | % of full benefit | Monthly | Yearly |
|---|---|---|---|
| 62 | 70% | $1,642 | $19,704 |
| 63 | 75% | $1,759 | $21,108 |
| 64 | 80% | $1,876 | $22,512 |
| 65 | 86.7% | $2,033 | $24,396 |
| 66 | 93.3% | $2,189 | $26,268 |
| 67 | 100% | $2,345 | $28,140 |
| 68 | 108% | $2,533 | $30,396 |
| 69 | 116% | $2,721 | $32,652 |
| 70 | 124% | $2,908 | $34,896 |
- Claiming at 62 cuts the benefit by 30% for life; waiting until 70 raises it by 24%.
- If you keep working before full retirement age, the earnings test can hold back part of the benefit.
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Questions people ask
How is Social Security calculated?+
SSA averages your 35 highest years of indexed earnings into a monthly figure (AIME), then pays 90% of the first $1,286, 32% up to $7,749 and 15% above.
What is my full retirement age?+
67 if you were born in 1960 or later; between 66 and 67 for 1955–1959.
How much more do I get if I wait until 70?+
8% for each year after full retirement age: 24% more at 70 if your full age is 67.