Social Security Estimate at Age 65 (Median Earner)
A median earner with a $5,500 AIME claiming at 65 receives a benefit slightly reduced from their full retirement age amount.
How to use this tool
- Enter your average indexed monthly earnings (AIME) — see your SSA statement.
- Pick the age at which you plan to claim benefits.
- Read your estimated monthly and annual benefit and your PIA at full retirement age.
- Try different claiming ages to see the effect of claiming early or delaying.
Many people associate 65 with Social Security, though full retirement age is now 67 for those born in 1960 or later.
Frequently asked questions
- How is my Social Security benefit calculated?
- Your average indexed monthly earnings (AIME) are run through a two-bend-point formula to get your primary insurance amount (PIA), then adjusted up or down based on the age you claim relative to full retirement age (67).
- How much do I lose by claiming at 62?
- Claiming at 62 with a full retirement age of 67 reduces your benefit by about 30% permanently — a $2,600.92 PIA becomes roughly $1,820.64 per month.
- How much do I gain by waiting until 70?
- Delaying past full retirement age earns 8% per year in delayed retirement credits, up to a maximum of 24% extra at age 70. There is no benefit to waiting beyond 70.
- Is this an official SSA estimate?
- No. It is a simplified educational estimate using the published bend-point formula. For an official figure, use your personalized Social Security statement at SSA.gov.