SkiptocontentSocialSecurityOnlineSocialSecurityBenefitswww.socialsecurity.govHome  FAQs  ContactUs  SearchSearch OfficeoftheChiefActuaryEarlyorLateRetirement?WhenToStartReceivingRetirementBenefitsBenefitcalculatorsHowwecalculatebenefitsWorkersplanningfortheirretirementshouldbeawarethatretirementbenefitsdependonageatretirement.Ifaworkerbeginsreceivingbenefitsbeforehis/hernormal(orfull)retirementage,theworkerwillreceiveareducedbenefit.Aworkercanchoosetoretireasearlyasage62,butdoingsomayresultinareductionofasmuchas30percent.Startingtoreceivebenefitsafternormalretirementagemayresultinlargerbenefits.Withdelayedretirementcredits,apersoncanreceivehisorherlargestbenefitbyretiringatage70.EarlyretirementreducesbenefitsInthecaseofearlyretirement,abenefitisreduced5/9ofonepercentforeachmonthbeforenormalretirementage,upto36months.Ifthenumberofmonthsexceeds36,thenthebenefitisfurtherreduced5/12ofonepercentpermonth.Forexample,ifthenumberofreductionmonthsis60(themaximumnumberforretirementat62whennormalretirementageis67),thenthebenefitisreducedby30percent.Thismaximumreductioniscalculatedas36monthstimes5/9of1percentplus24monthstimes5/12of1percent.DelayedretirementincreasesbenefitsDelayedretirementcreditisgenerallygivenforretirementafterthenormalretirementage.Toreceivefullcredit,youmustbeinsuredatyournormalretirementage.Nocreditisgivenafterage69.Ifyouretirebeforeage70,someofyourdelayedretirementcreditswillnotbeapplieduntiltheJanuaryafteryoustartbenefits.Thecalculatorbelowgivesyoutheamountwithallcreditsappliedforcomparisonpurposes.Delayedretirementcreditsincreasearetiree'sbenefits.Thetablebelowshowsthedelayedretirementcreditbyyearofbirth.ComputetheeffectofearlyordelayedretirementIfyouenteryourdateofbirthandtheeffectivemonthforbeginningyourbenefits,wewilltellyoutheeffectofearlyordelayedretirementasapercentageofyourprimaryinsuranceamount.Pleasenotethatbenefitsaregenerallypaidinthemonthfollowingtheeffectivemonth.Enteryourdateofbirth(month/day/yearformat)://Entertheeffectivemonthandyearforwh