How to Calculate Your Social Security Benefits in 2026
Social Security benefits are calculated using a formula that most Americans have never seen. Here's how your benefit is determined — and how your claiming age changes it dramatically.
Social Security benefits are based on your highest 35 years of indexed earnings using SSA's bend-point formula. Claiming at 62 gives you 70-75% of your full benefit. Claiming at 67 (full retirement age for those born after 1960) gives 100%. Claiming at 70 gives 124% — the maximum.
Use our Social Security Calculator for instant, personalized results.
The Social Security Benefit Formula
The SSA calculates your Primary Insurance Amount (PIA) using a weighted formula on your Average Indexed Monthly Earnings (AIME):
- 90% of the first $1,174/month of AIME
- 32% of AIME between $1,174 and $7,078/month
- 15% of AIME above $7,078/month
This deliberately favors lower earners — replacing a higher percentage of their pre-retirement income than for high earners.
How Claiming Age Affects Your Benefit
| Claim Age | Benefit Amount |
|---|---|
| 62 (earliest) | 70% of full benefit |
| 65 | ~86% of full benefit |
| 67 (full retirement age) | 100% |
| 70 (maximum) | 124% |
When Should You Claim?
If you expect to live past ~80, waiting to claim at 70 typically results in more lifetime income. If you have health concerns or need income sooner, claiming earlier may make sense. Spouses should coordinate — typically the higher earner should wait to maximize the survivor benefit.
Check Your Actual Estimate
Create a free account at SSA.gov/myaccount to see your actual earnings record and benefit estimates based on your real 35-year history.
Use our Social Security Calculator — instant results, no signup required.