Quick answer. Social Security reduces a retirement benefit by 5/9 of 1% for each of the first 36 months before full retirement age and 5/12 of 1% for each month beyond that, and adds 2/3 of 1% for each month you wait after full retirement age, up to 70 (birth years 1943 and later). Born in 1960 or later, full retirement age is 67: starting at 62 means 30% less, and at 70 it means 24% more.
Compare your monthly benefit by starting age
Enter your birth year and your benefit at full retirement age.
Earnings test: how much could be withheld while you work
Enter expected earnings from work.
Full retirement age by birth year
| Born | Full retirement age | Months early at 62 | Change at 62 |
|---|---|---|---|
| 1943 to 1954 | 66 | 48 | -25% |
| 1955 | 66 and 2 months | 50 | -25.83% |
| 1956 | 66 and 4 months | 52 | -26.67% |
| 1957 | 66 and 6 months | 54 | -27.5% |
| 1958 | 66 and 8 months | 56 | -28.33% |
| 1959 | 66 and 10 months | 58 | -29.17% |
| 1960 or later | 67 | 60 | -30% |
From SSA's normal retirement age table and SSA's early retirement reduction table. If you were born on January 1, use the year before. SSA's table counts the months at 62 for someone born on the 2nd of the month; for other birthdays it says the number of reduction months is one less.
How the reduction works
SSA's formula: "The percentage reduction is 5/9 of 1% per month for the first 36 months and 5/12 of 1% for each additional month." Thirty-six months early is 20% less. Sixty months early, the most for anyone born in 1960 or later, is 30% less. SSA's own example for a $1,000 benefit at full retirement age shows $700 at 62 for people born in 1960 or later, and $750 at 62 for people born from 1943 to 1954. The calculator uses the same formula, so its table matches SSA's.
Delayed retirement credits
For people born in 1943 or later, SSA adds 8% for each full year you wait past full retirement age, or 2/3 of 1% for each month, and "the benefit increase stops when you reach age 70." With a full retirement age of 67, waiting to 70 is 36 months, or 24% more. If you start before 70, SSA says some delayed credits are not applied until the January after you start.
Working before full retirement age
If you take benefits before full retirement age and keep working, the earnings test can hold back part of the benefit:
- Under full retirement age all year: $1 withheld for every $2 earned above $24,480 in 2026 ($25,560 in 2027).
- The year you reach full retirement age: $1 withheld for every $3 above $65,160 in 2026 ($67,920 in 2027), counting only earnings before the month you reach it.
- From the month you reach full retirement age, earnings no longer reduce benefits, however much you earn.
- SSA counts only wages and net self-employment earnings, not pensions, annuities, investment income or interest, and recalculates the benefit at full retirement age to credit the months withheld.
SSA's example: with an $800 monthly benefit and $33,400 of 2026 earnings, $8,920 is over the limit and $4,460 is withheld. The calculator above uses the same rule.
Spouses and survivors
A spouse's benefit can be as much as half of the worker's benefit at full retirement age, "up to the maximum of 50% at full retirement age." If the spouse starts earlier, SSA reduces it by 25/36 of 1% for each of the first 36 months and 5/12 of 1% for each month beyond that. If the spouse qualifies for a higher retirement benefit on their own record, SSA pays that.
SSA's Survivors Benefits booklet (April 2026) says a surviving spouse at full retirement age or older generally gets 100% of the worker's basic benefit amount, and from age 60 to full retirement age between 71% and 99%. A surviving spouse caring for the worker's child under 16 gets 75%, and a child gets 75%. The family maximum is between 150% and 180% of the worker's benefit. Benefits can start as early as 50 for a surviving spouse with a disability. Remarrying before 60 (50 with a disability) usually stops surviving spouse benefits. The survivor full retirement age is 66 for people born 1945 to 1956, rising to 67 for those born in 1962 or later.
Before you apply
- my Social Security. You must be 18 or older with an email address and a Social Security number. Sign-in is through Login.gov or ID.me with a government-issued photo ID. The account shows your Statement and retirement estimates, including a spouse's estimate.
- Documents SSA lists: your Social Security card or a record of your number; your original birth certificate or a copy certified by the issuing agency (not a photocopy or notarized copy); proof of citizenship or lawful alien status if you were not born in the U.S.; military service papers if you served before 1968; and last year's W-2s or self-employment tax return. SSA returns documents.
- SSA says not to delay applying if a document is missing; you can provide it later.
Official sources
- SSA: Normal retirement age by year of birth
- SSA: Benefit reduction for early retirement
- SSA: Delayed retirement credits
- SSA: Receiving benefits while working
- SSA: 2027 Social Security changes (COLA fact sheet)
- SSA: Retirement Benefits (2026, Publication 05-10035)
- SSA: Benefits for spouses
- SSA: Survivors Benefits (April 2026, Publication 05-10084)
- SSA: Information you need to apply for retirement benefits
- SSA: Creating a my Social Security account
Checked November 2026.
General information checked November 2026 against the official sources above. It is an organizer and checklist, not legal, benefits, immigration, tax or financial advice, and it never decides what you qualify for: the agency does. MCC Solutions is not affiliated with SSA, VA, USCIS, the Department of Justice or the State of New Jersey. The tool on this page runs in your browser, and nothing you enter is sent or saved.
Common questions
Where do I find my benefit at full retirement age?
On your Social Security Statement in your my Social Security account, which shows your earnings record and retirement estimates. Enter that monthly figure in the calculator.
Is the benefit withheld under the earnings test lost?
No. SSA says it recalculates your benefit at full retirement age to give you credit for the months it reduced or withheld benefits.
Does a spouse's benefit grow after full retirement age?
SSA describes the spouse benefit as up to a maximum of 50% of the worker's benefit at full retirement age, and the calculator does not add delayed credits to it.
What if I was born on January 1?
SSA says to use the previous year of birth for full retirement age and delayed credits. Tick the January 1 box and the calculator does that.
Does the calculator include cost-of-living adjustments?
No. It applies SSA's percentage changes to the amount you enter. Your Statement's estimates and SSA's own calculators are the place to check.
Related free pages
- Turning 65 Medicare Checklist: your Medicare enrollment window, penalties and free NJ SHIP counseling.
- Medicare Part D out-of-pocket cap tracker
- NJ senior property tax relief checker
- 401(k) catch-up contribution calculator
- New Jersey Executor Kit: for a surviving spouse or child settling an estate in New Jersey.
More guides: Working while on SSI or SSDI · VA claim paperwork · Green card renewal and citizenship paperwork