Social Security Claiming AgeSocial Security: claiming early or late
See how a US retirement benefit changes with the age you start it, using SSA figures read on 13 November 2026. Nothing is stored.
Worked example
Someone born in 1962 with a full-retirement-age benefit of $2,000 gets $1,400 a month by starting at 62 and $2,480 a month by waiting until 70.
Common questions
How much is the benefit cut at 62?
SSA’s table: 25.00% for people born 1943 to 1954 (full retirement age 66) up to 30.00% for people born 1960 or later (full retirement age 67). A $1,000 benefit becomes $700 for someone born 1960 or later who starts at 62.
How much does waiting add?
For anyone born 1943 or later, delayed retirement credits add two-thirds of 1% a month, 8% a year, from full retirement age until 70. The increase stops at 70.
Is the monthly formula SSA’s?
The two SSA pages give the table above and the delayed-credit rate. The monthly cut used here (5/9 of 1% a month for the first 36 months early, 5/12 of 1% after that) is this site’s own derivation, checked to reproduce every row of SSA’s table.
Source
- Social Security Administration, Benefits Planner: "Retirement Age and Benefit Reduction" and "Delayed Retirement Credits", ssa.gov, read on 13 November 2026.
Rules read on 13 November 2026 from the Social Security Administration website. They may have changed since. This site is independent, not connected with the SSA, and gives estimates, not advice. Your own benefit is on your my Social Security statement.