Social Security Benefits Calculator
Estimate your monthly Social Security retirement benefit and find the best age to claim based on your income, work history, and life expectancy.
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Try Empower FreeHow Social Security Benefits Are Calculated
The SSA calculates your benefit using your 35 highest-earning years, adjusted for inflation. These earnings are averaged into your AIME (Average Indexed Monthly Earnings). The SSA then applies a progressive formula using "bend points" — in 2025, you receive 90% of the first $1,226 of AIME, 32% of AIME between $1,226 and $7,391, and 15% of anything above $7,391. The result is your PIA (Primary Insurance Amount) — your benefit at Full Retirement Age (67).
When Should You Claim Social Security?
The decision hinges on three factors: health and life expectancy, other income sources, and marital status. Claiming at 62 locks in a permanent ~30% reduction vs. waiting until 67. Delaying to 70 increases benefits by 8% per year beyond Full Retirement Age. There's no universally right answer — early claiming is rational if you have health concerns or need the income; delaying is better for those in good health who can bridge the gap with savings or a spouse's income.
Spousal and Survivor Benefits
Married couples have additional strategy options. A spouse who earned less (or didn't work) can claim up to 50% of the higher earner's PIA. When a spouse dies, the survivor can claim 100% of the deceased's benefit if it's larger. This makes delaying the higher earner's benefit especially valuable — it effectively provides a larger survivor benefit for life.