Social Security Calculator · Practical guide
How Much Social Security Will I Get at 62?
Claiming at 62 pays roughly 70% of your full benefit — here's what that means in dollars.
At a glance
The Short Answer
Claiming at 62, the earliest possible age, pays about 70% of your full retirement benefit — a permanent 30% reduction. With an Average Indexed Monthly Earnings (AIME) of $5,000, the full benefit at 67 is about $2,281 per month, so claiming at 62 pays roughly $1,597 per month.
Interactive tool
Social Security Calculator
Enter your own values, then compare the result with the examples below.
Results
How the Reduction Works
The calculator first applies the PIA formula to your AIME: 90% of the first $1,174, 32% of the amount between $1,174 and $7,078, and 15% above that. The result is your full benefit at age 67. Claiming earlier multiplies it by an age factor:
| Claiming age | Factor | AIME $3,000 | AIME $5,000 |
|---|---|---|---|
| 62 | 70% | $1,149 | $1,597 |
| 67 | 100% | $1,641 | $2,281 |
| 70 | 124% | $2,035 | $2,828 |
Is Claiming at 62 Worth It?
At AIME $5,000, claiming at 62 instead of 67 costs about $684 per month for life, but you collect five extra years of checks — roughly $95,800 before age 67. The simple break-even point against waiting until 67 lands around age 78 to 80. Claim early if you need the income or have health concerns; wait if you expect a long retirement.
Estimate Your Own Number
Find your AIME by averaging your highest 35 years of earnings (adjusted for wage growth) and dividing by 12 — the Social Security Administration's earnings statement shows the raw figures. Enter it above with retirement age 62 to see your reduced benefit side by side with the age-67 and age-70 amounts.
Frequently Asked Questions
Is the 62 reduction permanent?
Yes. The roughly 30% reduction lasts for life, except for cost-of-living adjustments applied to the reduced amount.
Can I work while collecting at 62?
Yes, but earnings above the annual limit temporarily withhold part of your benefit until you reach full retirement age.
What if I worked fewer than 35 years?
Missing years count as zeros in the 35-year AIME average, which lowers your benefit at every claiming age.
How accurate is this estimate?
It uses simplified bend points and factors, so treat it as a close approximation. Your official estimate comes from the SSA.