Understanding what your Social Security benefits may look like years or even decades down the road can be difficult to determine, but Social Security has put together an estimator, especially for retirement benefits so people can estimate what their monthly statement might look like when they stop working. Below is Social Security’s outline of how you are able to estimate your monthly retirement benefits in the future. The Retirement Estimator gives estimates based on your actual Social Security earnings record. Please keep in mind that these are just estimates.
Estimate Your Retirement Benefits
We can’t provide your actual benefit amount until you apply for benefits. And that amount may differ from the estimates provided because:
- Your earnings may increase or decrease in the future.
- After you start receiving benefits, they will be adjusted for cost-of-living increases.
- Your estimated benefits are based on current law. The law governing benefit amounts may change because, by 2035, the combined trust fund reserves are projected to become depleted – one year later than projected last year. Payroll taxes collected will be enough to pay only about 80 cents for each dollar of scheduled benefits.
- Your benefit amount may be affected by military service, railroad employment or pensions earned through work on which you did not pay Social Security tax.
Who Can Use the Retirement Estimator?
You can use the Retirement Estimator if:
- You have enough Social Security credits at this time to qualify for benefits and
- You are not:
*Currently receiving benefits on your own Social Security record;
*Waiting for a decision about your application for benefits or Medicare;
*Age 62 or older and receiving benefits on another Social Security record; or
*Eligible for a Pension Based on Work Not Covered By Social Security.
If you are currently receiving only Medicare benefits, you can still get an estimate. For more information go to this link for our publication Retirement Information For Medicare Beneficiaries. If you cannot use the Retirement Estimator or you want a survivors or disability benefit estimate, please use one of our other benefit Calculators. You cannot use the Retirement Estimator if you blocked access to your personal information.
How Long Can You Stay On Each Page?
For security reasons, there are time limits for viewing each page. You will receive a warning after 25 minutes without doing anything, and you will be able to extend your time on the page. After the third warning on a page, you must move to another page. If you do not, your time will run out and your work on that page will be lost. If you turned JavaScript off in your browser, you will not receive these warnings. After you spend 30 minutes on a page, you must move to another page or you will be logged out.
