The money questions that come up on the job.

Social Security CLAIMING

See what your Social Security retirement benefit could be at every age from 62 to 70, and how long you'd need to live for waiting to pay off. Figures are in today's dollars.

FDNY members: your FDNY pension does not reduce your own Social Security. Tier 3 members do have their pension reduced at 62 by half of a Social Security amount figured from FDNY wages — see the Tier 3 calculator. The Social Security Fairness Act (signed January 5, 2025) ended the Windfall Elimination Provision and Government Pension Offset, which had reduced benefits for some workers with pensions from jobs that didn't pay into Social Security.

How it's figured: your earnings each year (capped at that year's Social Security wage limit) are raised to today's wage levels with the national average wage index, your best 35 years are averaged, and the 2026–2027 benefit formula is applied. Starting before full retirement age cuts the benefit 5/9 of 1% a month for the first 36 months and 5/12 of 1% after that; waiting past it adds 2/3 of 1% a month until 70. Future pay is assumed to keep pace with national wages, and results are shown in today's dollars before any cost-of-living raises. Lifetime totals are not discounted or taxed.

Educational estimate only — not an official Social Security calculation. Benefits are set by current law, which Congress can change. Your official estimate is in your Social Security statement at ssa.gov/myaccount. Spousal, survivor and earnings-test figures are simplified. Sources: Social Security Administration, Office of the Chief Actuary (average wage index, benefit formula, contribution and benefit base, COLAs) and the 2026 and 2027 cost-of-living fact sheets.