PFCHow to use this calculator
Compare claiming ages from 62 to 70 using an existing SSA benefit estimate. The tool applies age adjustments; it does not recreate your earnings record or establish eligibility.
- Review the example inputs and replace them with the figures for your scenario.
- Check the assumptions and select Calculate to view the estimate.
- Compare a second scenario or open the breakdown and download the full CSV.
Illustrative example
With the example inputs, illustrative monthly retirement benefit is $3,000.00. Start with your SSA full-retirement-age estimate, not salary or an age-62 estimate. Assumes eligibility; no earnings-record calculation, future COLAs, earnings test, taxes, Medicare, spousal/survivor benefits, or exact benefit-start timing. January 1 birthdays use the prior birth year.
These example values are for explanation. They are not current market quotes or personalized recommendations.
Calculation method
Early retirement reduces the full-age benefit by 5/9 of 1% per month for the first 36 early months and 5/12 of 1% for additional months. After full retirement age, credits add 2/3 of 1% per month through age 70 for the modeled birth cohorts.
Assumptions and limitations
Birth years 1943 onward; enter the preceding year for a January 1 birthday. Uses a constant supplied full-age estimate and floors modeled benefits to whole dollars. No future COLAs, work earnings test, recomputation of earnings, taxes, Medicare, spousal/survivor benefits, or benefit-start/calendar timing. Delayed credits may be reflected later than the chosen month. SSA determines actual benefits.
Sources
Social Security calculator FAQs
Choose a question to read the answer, then try your own numbers in the free calculator.
Does this estimate benefits from my salary?
No. Start with the full-retirement-age benefit from your SSA account or statement. This tool only illustrates claiming-age adjustments.
Does waiting past 70 add more delayed credits?
No. The modeled delayed-retirement credits stop at age 70.
Will this equal my deposit?
Not necessarily. Withholding, Medicare, earnings rules, calendar timing, and your actual SSA record can change payments.
Is this calculator free?
Yes. You can calculate and download the breakdown without creating an account.
Are my numbers saved?
The app sends inputs to its calculation API to produce the result, but does not save them in an app database or browser storage.
PFC provides mathematical planning estimates. Tax and retirement rules in these tools are for 2026 and do not update automatically. Check the cited sources and the terms that apply to your situation.