Early vs delayed Social Security retirement
For people born in 1960 or later, starting at 62 pays 70% of the full benefit and waiting until 70 pays 124%. Pick your date of birth and the age you would start to see the exact percentage, month by month. It is a percentage of your full benefit, never a dollar amount.
Month, day and year. It is not sent, saved or put in the address.
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Your benefit as a share of the full benefit
--%
Type your date of birth and pick a start age. No dollars: the amount depends on your earnings.
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Source: SSA: Early or Late Retirement? (Actuarial Services); SSA: Delayed Retirement Credits; SSA: Effect of Early or Delayed Retirement on Retirement Benefits, opened on .
Percent of the full benefit by year of birth and start age
SSA’s table counts from exactly 62, 63, 64, 65, 66, 67 and 70. Every value below is worked out with SSA’s rates and matches the table SSA publishes, which gives 124% at 70 for people born in 1960 or later.
| Year of birth | Full retirement age | 62 | 63 | 64 | 65 | 66 | 67 | 70 |
|---|---|---|---|---|---|---|---|---|
| 1943-1954 | 66 | 75.0% | 80.0% | 86.7% | 93.3% | 100.0% | 108.0% | 132.0% |
| 1955 | 66 and 2 months | 74.2% | 79.2% | 85.6% | 92.2% | 98.9% | 106.7% | 130.7% |
| 1956 | 66 and 4 months | 73.3% | 78.3% | 84.4% | 91.1% | 97.8% | 105.3% | 129.3% |
| 1957 | 66 and 6 months | 72.5% | 77.5% | 83.3% | 90.0% | 96.7% | 104.0% | 128.0% |
| 1958 | 66 and 8 months | 71.7% | 76.7% | 82.2% | 88.9% | 95.6% | 102.7% | 126.7% |
| 1959 | 66 and 10 months | 70.8% | 75.8% | 81.1% | 87.8% | 94.4% | 101.3% | 125.3% |
| 1960 and later | 67 | 70.0% | 75.0% | 80.0% | 86.7% | 93.3% | 100.0% | 124.0% |
How much is my benefit reduced if I start early?
Social Security reduces the benefit 5/9 of 1% for each month before full retirement age, up to 36 months, and 5/12 of 1% for each month beyond 36. Starting 60 months early, the most for someone with full retirement age 67, is a 30% cut: 36 × 5/9% is 20% and 24 × 5/12% is 10%. Starting at 63 for someone born in 1960 or later is 48 months early: 20% plus 12 × 5/12%, which is 5%, so 25% less and 75% remains.
How much more do I get if I wait past full retirement age?
For people born in 1943 or later the increase is 2/3 of 1% for each month, which is 8% a year, from full retirement age until age 70. For a 1960 birth, waiting 36 months to 70 gives 36 × 2/3%, which is 24% more, so 124%. For births from 1933 to 1942 the monthly rates are lower, from 11/24 of 1% for 1933-1934 to 5/8 of 1% for 1941-1942.
Do the extra credits stop at 70?
Yes. SSA says the benefit increase stops when you reach age 70, so waiting past 70 adds nothing. If you start before 70, SSA says some of your delayed credits are not applied until the January after you start. The percentages on this page count every credit, the way SSA’s calculator does for comparison.
Does this show dollars?
No. The percentage of the full benefit is the same for everyone with the same birth year, but the dollar amount depends on your lifetime earnings, which this site does not know. SSA calculates your payment from your earnings; your own estimates for different ages are in your my Social Security account at ssa.gov.
Which month can I choose as the start?
The picker lists every start from the first allowed month to age 70. You must be 62 for the entire month, so the first month is the month of your 62nd birthday only if you were born on the 1st or the 2nd of a month; for any other day it is the next month. Benefits are generally paid in the month after the effective month. The choice itself depends on your health, work, household and other income, which this site does not weigh.
Questions about early vs delayed retirement
What percentage of my benefit do I get at 62?
For people born in 1960 or later, 70% at exactly 62, because that is 60 months early. For most birth dates the first allowed month is 62 and 1 month, which is 70.42%. People born from 1943 to 1954 get 75% at 62, and 1955 to 1959 births get from 74.17% (1955) down to 70.83% (1959).
What percentage do I get at 70?
124% for births in 1960 or later. For earlier years SSA’s table gives 125.33% for 1959, 126.67% for 1958, 128% for 1957, 129.33% for 1956, 130.67% for 1955 and 132% for 1943 to 1954.
Why does SSA’s chart say 70% but its calculator says 70.42%?
SSA’s charts count from exactly 62, which is 60 months before 67. But you must be 62 for the entire month, so for most birth dates the first month you can be paid for is 62 and 1 month, 59 months early, and SSA’s calculator says you can not retire before age 62 and one month. A person born on the 2nd of a month can start in the month of the 62nd birthday and gets 70.00%.
Can I apply after 70?
SSA says you can apply for your monthly retirement benefit anytime between age 62 and 70, and the amount rises the longer you wait, up until age 70. The credits for waiting stop at 70.
Do spouse benefits use the same percentages?
No. SSA’s chart for people born in 1960 or later shows a different column for a spouse, for example 32.5% at 62. This site covers the retirement benefit on your own record only.
Where do I get my own dollar estimate?
In your my Social Security account at ssa.gov/myaccount. SSA calculates the payment from your lifetime earnings and shows what you could get at different ages. This site never asks for your earnings or your Social Security number.
Related tools
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Full retirement age chart
Social Security full retirement age by year of birth, with months.Retirement age timeline
Your ages 62, full retirement age, 65 and 70, month by month.Medicare eligibility age
Your 7-month sign-up window and when coverage starts.FERS minimum retirement age
For federal employees: the minimum retirement age by birth year.
Sources: what this page states and where we read it
| What the page says | Official page and where on it | Opened |
|---|---|---|
| The benefit is reduced 5/9 of 1% for each month before full retirement age, up to 36 months, and 5/12 of 1% for each month beyond 36. | SSA: Early or Late Retirement? (Actuarial Services)Section “Early retirement reduces benefits” | |
| The most you can lose by starting at 62 is 30%, when full retirement age is 67 (60 months). | SSA: Early or Late Retirement? (Actuarial Services)Section “Early retirement reduces benefits” | |
| Waiting past full retirement age adds 2/3 of 1% a month (8% a year) for people born in 1943 or later; earlier birth years have lower rates. | SSA: Delayed Retirement CreditsTable “Increase for Delayed Retirement” | |
| The increase for waiting stops at age 70. | SSA: Delayed Retirement CreditsPage introduction | |
| If you start before 70, part of the delayed credits is added in the following January. | SSA: Delayed Retirement CreditsText below the table | |
| The percentages here count every delayed credit; SSA’s calculator also shows the amount with all credits applied, for comparison. | SSA: Early or Late Retirement? (Actuarial Services)Section “Delayed retirement increases benefits” | |
| For people born in 1960 or later the benefit is 70.0% at 62, 75.0% at 63, 80.0% at 64, 86.7% at 65, 93.3% at 66 and 100.0% at 67, with a figure for every month in between. | SSA: Full retirement age for people born in 1960 or laterChart “How Your Social Security Benefit Is Reduced” (wage earner column, 61 rows) | |
| The reduction at 62 is 25.00% for 1943-1954 births, 25.83% for 1955, 26.67% for 1956, 27.50% for 1957, 28.33% for 1958, 29.17% for 1959 and 30.00% for 1960 and later. | SSA: Starting Your Retirement Benefits EarlyChart “Full Retirement and Age 62 Benefit By Year Of Birth”, column 4 | |
| The benefit as a percentage of the full amount at 62, 63, 64, 65, 66, 67 and 70, for every year of birth from 1937. | SSA: Effect of Early or Delayed Retirement on Retirement BenefitsTable “Benefit, as a percentage of Primary Insurance Amount (PIA), payable at ages 62-67 and age 70” | |
| You must be 62 for the whole month to be paid for it. | SSA: Starting Your Retirement Benefits EarlyNotes under the chart | |
| The first month you can start is the month of your 62nd birthday if you were born on the 1st or the 2nd, and the month after it if you were born on any other day (SSA: “you can not retire before age 62 and one month”). | SSA: Early or Late Retirement? (Actuarial Services)SSA’s calculator “Compute the effect of early or delayed retirement”, run on 2026-10-11 | |
| The first payment generally arrives in the month after the month the benefit starts. | SSA: Early or Late Retirement? (Actuarial Services)Section “Compute the effect of early or delayed retirement” | |
| For a dollar estimate, use your my Social Security account; the payment is calculated from your lifetime earnings. | SSA: Plan for Retirement (benefit estimate)Page introduction |
Not confirmed: No dollar amounts, spouse benefits, survivor benefits or the effect of working while you collect are shown. For your own dollar estimate use my Social Security at ssa.gov/myaccount.
General information from official sources, not advice. Rules can change by law, and the agency decides your case. Confirm your dates with the Social Security Administration, Medicare or the Office of Personnel Management before you decide. Nothing you type leaves your browser.