Social Security Calculator 2026
Estimate your benefit at any claim age, with early reductions and delayed retirement credits
Last updated: November 2025 · Source: SSA Fact Sheet 2026 · 2026 wage base $184,500 · 2026 COLA 2.5%
Your Inputs
FRA is 67 if born 1960 or later. 66 + 2 to 10 months if born 1955 to 1959.
Get this from your my Social Security statement. Average 2026 retired-worker benefit is about $2,000/mo.
SSA period life table: about 85 for a 65-year-old today.
Claim Age Comparison
| Claim Age | Monthly | Annual | % of PIA |
|---|---|---|---|
| 62 (earliest) | $1,540 | $18,480 | 70% |
| FRA (67) | $2,200 | $26,400 | 100% |
| 70 (latest) | $2,728 | $32,736 | 124% |
Breakeven Ages
Cumulative Lifetime Benefit by Claim Age
Cost-of-Living Adjustments (COLA)
SSA applies an annual COLA to your benefit based on third-quarter CPI-W. The 2026 COLA was 2.5%. Over a 25-year retirement, even a 2.5% COLA roughly doubles your nominal benefit, so think of these monthly amounts as inflation-protected.
How Social Security Benefits Are Calculated
From AIME to PIA
SSA takes your highest 35 years of indexed earnings, divides by 420 months, and produces your Average Indexed Monthly Earnings (AIME). Your Primary Insurance Amount (PIA), the benefit you would receive at FRA, is then calculated using a progressive formula. For 2026 the bend points are roughly $1,226 and $7,391: 90% of AIME up to the first bend, 32% between the bends, and 15% above. This bend-point structure replaces a higher share of income for lower earners.
Early Claim Reductions
If you claim before your FRA (67 for those born 1960+), your benefit is reduced 5/9 of 1% per month for the first 36 months and 5/12 of 1% per month beyond that. Claiming at age 62 with an FRA of 67 cuts your benefit by 30%. This reduction is permanent, COLAs continue to apply, but they apply to the reduced base.
Delayed Retirement Credits
Each month you delay claiming past FRA earns a Delayed Retirement Credit of 2/3 of 1%, or 8% per year, up to age 70. There is no benefit to delaying past 70. For an FRA of 67, waiting until 70 boosts your benefit by 24% permanently.
2026 Wage Base & Maximum Benefit
The 2026 Social Security wage base is $184,500, the maximum earnings subject to the 6.2% Social Security tax. A worker who has earned at or above the wage base for 35 years and claims at age 70 in 2026 could receive a maximum benefit of about $5,108/month (SSA estimate).
Frequently Asked Questions
Should I claim Social Security early at 62 or wait until 70?
Claiming at 62 permanently reduces your benefit by about 30% versus FRA. Waiting until 70 earns 8% per year in delayed credits (24% boost). If you expect to live past about 80 and do not need the cash, delaying usually wins on a lifetime basis. Otherwise, factor in health, marital status, and other income.
Can I work while collecting Social Security?
Yes, but the earnings test applies before FRA. In 2026 SSA withholds $1 for every $2 earned above about $23,400. In the year you reach FRA the threshold is higher and the ratio is $1 for every $3. After FRA there is no earnings test, and withheld amounts are restored as a higher monthly benefit later.
How do spousal and survivor benefits work?
A spouse can claim up to 50% of the worker spouse's PIA at FRA (reduced if claimed earlier). A surviving spouse can step up to 100% of the deceased spouse's benefit (including DRCs), as early as age 60 (50 if disabled). Couples often have the higher earner delay to 70 to maximize the survivor benefit.
Are Social Security benefits taxable?
Up to 50% of benefits are taxable if combined income exceeds $25,000 single / $32,000 MFJ. Up to 85% above $34,000 / $44,000. These thresholds are not inflation-indexed (unchanged since 1993), so more retirees pay tax each year. Twelve states also tax SS to varying degrees.
What is the 2026 cost-of-living adjustment (COLA)?
2026 COLA was 2.5%, effective with the December 2025 payment. The 2026 wage base is $184,500 (up from $176,100). COLAs are announced each October based on third-quarter CPI-W.
When will Social Security become insolvent?
The 2025 Trustees Report projects combined OASI + DI funds depleted in 2034. After that, payroll taxes alone would cover about 81% of scheduled benefits. Congress has historically acted (1983 reforms), but plan conservatively, model a 15 to 20% benefit cut after the mid-2030s.
When should I check my SSA.gov statement?
At least annually. Create a free my Social Security account at SSA.gov to verify your reported earnings (errors can reduce your benefit), see your projected PIA at 62 / FRA / 70, and run scenarios. SSA only corrects records for the past 3 years, 3 months, and 15 days.