Percent of your benefit by starting age
| Start at | % of benefit | $1,000 benefit | $2,000 benefit |
|---|---|---|---|
| 62 | 70.0% | $700.00 | $1,400.00 |
| 63 | 75.0% | $750.00 | $1,500.00 |
| 64 | 80.0% | $800.00 | $1,600.00 |
| 65 | 86.7% | $866.60 | $1,733.30 |
| 66 | 93.3% | $933.30 | $1,866.60 |
| 67 | 100.0% | $1,000.00 | $2,000.00 |
| 68 | 108.0% | $1,080.00 | $2,160.00 |
| 69 | 116.0% | $1,160.00 | $2,320.00 |
| 70 | 124.0% | $1,240.00 | $2,480.00 |
For full retirement age 67 (born January 2, 1960 or later), starting in the month you reach each age — at 62 that is possible only if you were born on the 1st or 2nd; otherwise the earliest start is the next month. Monthly amounts before Medicare premiums.
Full retirement age by birth date
| Born | Full retirement age |
|---|---|
| Jan 2, 1943 – Jan 1, 1955 | 66 |
| Jan 2, 1955 – Jan 1, 1956 | 66 and 2 months |
| Jan 2, 1956 – Jan 1, 1957 | 66 and 4 months |
| Jan 2, 1957 – Jan 1, 1958 | 66 and 6 months |
| Jan 2, 1958 – Jan 1, 1959 | 66 and 8 months |
| Jan 2, 1959 – Jan 1, 1960 | 66 and 10 months |
| Jan 2, 1960 or later | 67 |
From 20 CFR 404.409(a). You reach an age the day before your birthday (404.102), which is why the years run from January 2.
How the numbers are worked out
- Earliest start: the first month you are 62 for the whole month (20 CFR 404.311) — usually the month after your 62nd birthday month, or the birthday month itself if you were born on the 1st or 2nd.
- Early reduction: 5/9 of 1% for each of the first 36 months before full retirement age, 5/12 of 1% for each month beyond that (404.410). The dollar reduction is rounded up to the next 10 cents.
- Delayed retirement credits: 2/3 of 1% for each month from full retirement age until you start, stopping at the month you turn 70 (404.313). The dollar increase is rounded down to the next 10 cents. If you start partway through a year, your first checks include only the credits through the previous December; that year's credits are added the next January — unless you start in the month you turn 70 (404.313(c)(3)).
What this page doesn't cover
- Spousal and survivor benefits, the earnings test while working before full retirement age, and cost-of-living adjustments
- How your primary insurance amount is computed from your earnings record
- Medicare premiums and the rounding of the payment down to a whole dollar
This is an estimate, not advice. Confirm with your Social Security statement or the Social Security Administration. For a vacation-day budget at work, try the PTO planner.
Frequently asked questions
How much less do I get if I start Social Security at 62?
If your full retirement age is 67 (born January 2, 1960 or later), starting 60 months early cuts your benefit by 30%: 5/9 of 1% for each of the first 36 months and 5/12 of 1% for each of the other 24 (20 CFR 404.410). You get 70% of your primary insurance amount, and the cut stays after full retirement age — except that months withheld under the earnings test are added back then (20 CFR 404.412).
How much more do I get by waiting until 70?
For anyone born after January 1, 1943, each month you wait past full retirement age adds 2/3 of 1% (8% a year). With a full retirement age of 67, waiting to 70 adds 36 credits — 24% more (20 CFR 404.313).
Why can't I start in the month I turn 62?
Before full retirement age you must be 62 for the whole month (20 CFR 404.311), and you become 62 the day before your birthday (404.102). So most people can start the month after their 62nd birthday month. If you were born on the 1st or 2nd, you are 62 for all of your birthday month and can start then.
I was born on January 1. Which full retirement age applies?
Use the year before. The SSA table runs from January 2 to January 1, so someone born January 1, 1960 has the 1959 full retirement age of 66 and 10 months (20 CFR 404.409).