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Effect of Early or Delayed Retirement on Retirement Benefits

Benefit, as a percentage of Primary Insurance Amount (PIA), payable at ages 62-67 and age 70
Year
of birth		 Normal
Retirement
Age (NRA)		 Credit for each year of delayed retirement after NRA (percent) Benefit, as a percentage of PIA, beginning at age--
62 63 64 65 66 67 70
1924 65 3 80 86 2⁄3 93 1⁄3 100 103 106 115
1925-26 65 3 1⁄2 80 86 2⁄3 93 1⁄3 100 103 1⁄2 107 117 1⁄2
1927-28 65 4 80 86 2⁄3 93 1⁄3 100 104 108 120
1929-30 65 4 1⁄2 80 86 2⁄3 93 1⁄3 100 104 1⁄2 109 122 1⁄2
1931-32 65 5 80 86 2⁄3 93 1⁄3 100 105 110 125
1933-34 65 5 1⁄2 80 86 2⁄3 93 1⁄3 100 105 1⁄2 111 127 1⁄2
1935-36 65 6 80 86 2⁄3 93 1⁄3 100 106 112 130
1937 65 6 1⁄2 80 86 2⁄3 93 1⁄3 100 106 1⁄2 113 132 1⁄2
1938 65, 2 mo. 6 1⁄2 79 1⁄6 85 5⁄9 92 2⁄9 98 8⁄9 105 5⁄12 111 11⁄12 131 5⁄12
1939 65, 4 mo. 7 78 1⁄3 84 4⁄9 91 1⁄9 97 7⁄9 104 2⁄3 111 2⁄3 132 2⁄3
1940 65, 6 mo. 7 77 1⁄2 83 1⁄3 90 96 2⁄3 103 1⁄2 110 1⁄2 131 1⁄2
1941 65, 8 mo. 7 1⁄2 76 2⁄3 82 2⁄9 88 8⁄9 95 5⁄9 102 1⁄2 110 132 1⁄2
1942 65, 10 mo. 7 1⁄2 75 5⁄6 81 1⁄9 87 7⁄9 94 4⁄9 101 1⁄4 108 3⁄4 131 1⁄4
1943-54 66 8 75 80 86 2⁄3 93 1⁄3 100 108 132
1955 66, 2 mo. 8 74 1⁄6 79 1⁄6 85 5⁄9 92 2⁄9 98 8⁄9 106 2⁄3 130 2⁄3
1956 66, 4 mo. 8 73 1⁄3 78 1⁄3 84 4⁄9 91 1⁄9 97 7⁄9 105 1⁄3 129 1⁄3
1957 66, 6 mo. 8 72 1⁄2 77 1⁄2 83 1⁄3 90 96 2⁄3 104 128
1958 66, 8 mo. 8 71 2⁄3 76 2⁄3 82 2⁄9 88 8⁄9 95 5⁄9 102 2⁄3 126 2⁄3
1959 66, 10 mo. 8 70 5⁄6 75 5⁄6 81 1⁄9 87 7⁄9 94 4⁄9 101 1⁄3 125 1⁄3
1960 and later 67 8 70 75 80 86 2⁄3 93 1⁄3 100 124
Note: Persons born on January 1 of any year should refer to the previous year of birth.
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Last reviewed or modified Thursday Aug 19, 2010
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