Under the
SilGro home page for Alan Silverstein and Cathie
Grow
--
Email me at ajs@frii.com
This webpage helps you decide whether to start or defer your ordinary Social Security benefit payments between the ages of 62 and 70. This is convenient (HTMLized) output from my SS_BE.pl Perl script, running it for all valid birth years (45 - 60), so you don't have to run it yourself under Perl.
But note well, the excellent book, Get What's Yours (Revised & Updated): The Secrets to Maxing Out Your Social Security makes a very good case that it's invalid to even consider the SS break-even age (treating it purely as a pension), rather, it should be seen as a form of longevity insurance for those who beat the odds. But anyway --
For each birth year below there are available two output tables, one for yearly summaries and one for monthly details:
See also these SS webpages:
Retirement Planner: Full Retirement Age,
Retirement Planner: Delayed Retirement Credits,
and subsidiary pages.
Here "break even" means the point at which your total accrued benefit payments if you start early would equal your total accrued payments if you waited until age 70. If you live long enough to reach your break even age, then afterwards you would have been better off deferring rather than starting payments early (if you could afford to do so). See also: Thoughts on Starting a Pension Early.
Note:
| Birth Year | Yearly | Monthly |
|---|---|---|
| 1945 | summary | details |
| 1946 | summary | details |
| 1947 | summary | details |
| 1948 | summary | details |
| 1949 | summary | details |
| 1950 | summary | details |
| 1951 | summary | details |
| 1952 | summary | details |
| 1953 | summary | details |
| 1954 | summary | details |
| 1955 | summary | details |
| 1956 | summary | details |
| 1957 | summary | details |
| 1958 | summary | details |
| 1959 | summary | details |
| 1960 or later | summary | details |
1945 Yearly Summary:
1945 Monthly Details:
1946 Yearly Summary:
1946 Monthly Details:
1947 Yearly Summary:
1947 Monthly Details:
1948 Yearly Summary:
1948 Monthly Details:
1949 Yearly Summary:
1949 Monthly Details:
1950 Yearly Summary:
1950 Monthly Details:
1951 Yearly Summary:
1951 Monthly Details:
1952 Yearly Summary:
1952 Monthly Details:
1953 Yearly Summary:
1953 Monthly Details:
1954 Yearly Summary:
1954 Monthly Details:
1955 Yearly Summary:
1955 Monthly Details:
1956 Yearly Summary:
1956 Monthly Details:
1957 Yearly Summary:
1957 Monthly Details:
1958 Yearly Summary:
1958 Monthly Details:
1959 Yearly Summary:
1959 Monthly Details:
Birth year = 1945: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1945: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1946: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1946: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1947: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1947: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1948: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1948: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1949: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1949: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1950: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1950: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1951: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1951: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1952: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1952: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1953: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1953: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1954: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
63 0 -36 80.0 60.6 0.4690 17.8 80.8
64 0 -24 86.7 65.7 0.4770 17.5 81.5
65 0 -12 93.3 70.7 0.4882 17.1 82.1
66 0 +0 100.0 75.8 0.5051 16.5 82.5
67 0 +12 108.0 81.8 0.5051 16.5 83.5
68 0 +24 116.0 87.9 0.5051 16.5 84.5
69 0 +36 124.0 93.9 0.5051 16.5 85.5
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1954: FRA = 66 years + 0 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5051% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -48 75.0 56.8 0.4498 18.5 80.5
62 1 -47 75.4 57.1 0.4512 18.5 80.6
62 2 -46 75.8 57.4 0.4527 18.4 80.6
62 3 -45 76.2 57.8 0.4541 18.3 80.6
62 4 -44 76.7 58.1 0.4556 18.3 80.6
62 5 -43 77.1 58.4 0.4572 18.2 80.6
62 6 -42 77.5 58.7 0.4588 18.2 80.7
62 7 -41 77.9 59.0 0.4604 18.1 80.7
62 8 -40 78.3 59.3 0.4620 18.0 80.7
62 9 -39 78.8 59.7 0.4637 18.0 80.7
62 10 -38 79.2 60.0 0.4654 17.9 80.7
62 11 -37 79.6 60.3 0.4672 17.8 80.8
63 0 -36 80.0 60.6 0.4690 17.8 80.8
63 1 -35 80.6 61.0 0.4696 17.7 80.8
63 2 -34 81.1 61.4 0.4701 17.7 80.9
63 3 -33 81.7 61.9 0.4708 17.7 81.0
63 4 -32 82.2 62.3 0.4714 17.7 81.0
63 5 -31 82.8 62.7 0.4720 17.7 81.1
63 6 -30 83.3 63.1 0.4727 17.6 81.1
63 7 -29 83.9 63.6 0.4733 17.6 81.2
63 8 -28 84.4 64.0 0.4740 17.6 81.2
63 9 -27 85.0 64.4 0.4747 17.6 81.3
63 10 -26 85.6 64.8 0.4755 17.5 81.4
63 11 -25 86.1 65.2 0.4762 17.5 81.4
64 0 -24 86.7 65.7 0.4770 17.5 81.5
64 1 -23 87.2 66.1 0.4778 17.4 81.5
64 2 -22 87.8 66.5 0.4786 17.4 81.6
64 3 -21 88.3 66.9 0.4794 17.4 81.6
64 4 -20 88.9 67.3 0.4803 17.4 81.7
64 5 -19 89.4 67.8 0.4812 17.3 81.7
64 6 -18 90.0 68.2 0.4821 17.3 81.8
64 7 -17 90.6 68.6 0.4830 17.3 81.8
64 8 -16 91.1 69.0 0.4840 17.2 81.9
64 9 -15 91.7 69.4 0.4850 17.2 81.9
64 10 -14 92.2 69.9 0.4860 17.1 82.0
64 11 -13 92.8 70.3 0.4871 17.1 82.0
65 0 -12 93.3 70.7 0.4882 17.1 82.1
65 1 -11 93.9 71.1 0.4894 17.0 82.1
65 2 -10 94.4 71.5 0.4905 17.0 82.2
65 3 -9 95.0 72.0 0.4918 16.9 82.2
65 4 -8 95.6 72.4 0.4930 16.9 82.2
65 5 -7 96.1 72.8 0.4943 16.9 82.3
65 6 -6 96.7 73.2 0.4957 16.8 82.3
65 7 -5 97.2 73.7 0.4971 16.8 82.3
65 8 -4 97.8 74.1 0.4986 16.7 82.4
65 9 -3 98.3 74.5 0.5001 16.7 82.4
65 10 -2 98.9 74.9 0.5017 16.6 82.4
65 11 -1 99.4 75.3 0.5033 16.6 82.5
66 0 +0 100.0 75.8 0.5051 16.5 82.5
66 1 +1 100.7 76.3 0.5051 16.5 82.6
66 2 +2 101.3 76.8 0.5051 16.5 82.7
66 3 +3 102.0 77.3 0.5051 16.5 82.8
66 4 +4 102.7 77.8 0.5051 16.5 82.8
66 5 +5 103.3 78.3 0.5051 16.5 82.9
66 6 +6 104.0 78.8 0.5051 16.5 83.0
66 7 +7 104.7 79.3 0.5051 16.5 83.1
66 8 +8 105.3 79.8 0.5051 16.5 83.2
66 9 +9 106.0 80.3 0.5051 16.5 83.2
66 10 +10 106.7 80.8 0.5051 16.5 83.3
66 11 +11 107.3 81.3 0.5051 16.5 83.4
67 0 +12 108.0 81.8 0.5051 16.5 83.5
67 1 +13 108.7 82.3 0.5051 16.5 83.6
67 2 +14 109.3 82.8 0.5051 16.5 83.7
67 3 +15 110.0 83.3 0.5051 16.5 83.8
67 4 +16 110.7 83.8 0.5051 16.5 83.8
67 5 +17 111.3 84.3 0.5051 16.5 83.9
67 6 +18 112.0 84.8 0.5051 16.5 84.0
67 7 +19 112.7 85.4 0.5051 16.5 84.1
67 8 +20 113.3 85.9 0.5051 16.5 84.2
67 9 +21 114.0 86.4 0.5051 16.5 84.2
67 10 +22 114.7 86.9 0.5051 16.5 84.3
67 11 +23 115.3 87.4 0.5051 16.5 84.4
68 0 +24 116.0 87.9 0.5051 16.5 84.5
68 1 +25 116.7 88.4 0.5051 16.5 84.6
68 2 +26 117.3 88.9 0.5051 16.5 84.7
68 3 +27 118.0 89.4 0.5051 16.5 84.8
68 4 +28 118.7 89.9 0.5051 16.5 84.8
68 5 +29 119.3 90.4 0.5051 16.5 84.9
68 6 +30 120.0 90.9 0.5051 16.5 85.0
68 7 +31 120.7 91.4 0.5051 16.5 85.1
68 8 +32 121.3 91.9 0.5051 16.5 85.2
68 9 +33 122.0 92.4 0.5051 16.5 85.2
68 10 +34 122.7 92.9 0.5051 16.5 85.3
68 11 +35 123.3 93.4 0.5051 16.5 85.4
69 0 +36 124.0 93.9 0.5051 16.5 85.5
69 1 +37 124.7 94.4 0.5051 16.5 85.6
69 2 +38 125.3 94.9 0.5051 16.5 85.7
69 3 +39 126.0 95.5 0.5051 16.5 85.8
69 4 +40 126.7 96.0 0.5051 16.5 85.8
69 5 +41 127.3 96.5 0.5051 16.5 85.9
69 6 +42 128.0 97.0 0.5051 16.5 86.0
69 7 +43 128.7 97.5 0.5051 16.5 86.1
69 8 +44 129.3 98.0 0.5051 16.5 86.2
69 9 +45 130.0 98.5 0.5051 16.5 86.2
69 10 +46 130.7 99.0 0.5051 16.5 86.3
69 11 +47 131.3 99.5 0.5051 16.5 86.4
70 0 +48 132.0 100.0 0.5051 16.5 86.5
Birth year = 1955: FRA = 66 years + 2 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5102% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -50 74.2 56.8 0.4504 18.5 80.5
63 0 -38 79.2 60.6 0.4692 17.8 80.8
64 0 -26 85.6 65.5 0.4795 17.4 81.4
65 0 -14 92.2 70.6 0.4904 17.0 82.0
66 0 -2 98.9 75.7 0.5067 16.4 82.4
67 0 +10 106.7 81.6 0.5102 16.3 83.3
68 0 +22 114.7 87.8 0.5102 16.3 84.3
69 0 +34 122.7 93.9 0.5102 16.3 85.3
70 0 +46 130.7 100.0 0.5102 16.3 86.3
Birth year = 1955: FRA = 66 years + 2 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5102% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -50 74.2 56.8 0.4504 18.5 80.5
62 1 -49 74.6 57.1 0.4518 18.4 80.5
62 2 -48 75.0 57.4 0.4532 18.4 80.6
62 3 -47 75.4 57.7 0.4547 18.3 80.6
62 4 -46 75.8 58.0 0.4561 18.3 80.6
62 5 -45 76.2 58.4 0.4576 18.2 80.6
62 6 -44 76.7 58.7 0.4592 18.1 80.6
62 7 -43 77.1 59.0 0.4608 18.1 80.7
62 8 -42 77.5 59.3 0.4624 18.0 80.7
62 9 -41 77.9 59.6 0.4640 18.0 80.7
62 10 -40 78.3 59.9 0.4657 17.9 80.7
62 11 -39 78.8 60.3 0.4674 17.8 80.7
63 0 -38 79.2 60.6 0.4692 17.8 80.8
63 1 -37 79.6 60.9 0.4710 17.7 80.8
63 2 -36 80.0 61.2 0.4729 17.6 80.8
63 3 -35 80.6 61.6 0.4735 17.6 80.9
63 4 -34 81.1 62.1 0.4741 17.6 80.9
63 5 -33 81.7 62.5 0.4747 17.6 81.0
63 6 -32 82.2 62.9 0.4753 17.5 81.0
63 7 -31 82.8 63.4 0.4760 17.5 81.1
63 8 -30 83.3 63.8 0.4766 17.5 81.2
63 9 -29 83.9 64.2 0.4773 17.5 81.2
63 10 -28 84.4 64.6 0.4780 17.4 81.3
63 11 -27 85.0 65.1 0.4788 17.4 81.3
64 0 -26 85.6 65.5 0.4795 17.4 81.4
64 1 -25 86.1 65.9 0.4803 17.4 81.4
64 2 -24 86.7 66.3 0.4810 17.3 81.5
64 3 -23 87.2 66.8 0.4819 17.3 81.5
64 4 -22 87.8 67.2 0.4827 17.3 81.6
64 5 -21 88.3 67.6 0.4836 17.2 81.7
64 6 -20 88.9 68.0 0.4844 17.2 81.7
64 7 -19 89.4 68.5 0.4853 17.2 81.8
64 8 -18 90.0 68.9 0.4863 17.1 81.8
64 9 -17 90.6 69.3 0.4873 17.1 81.9
64 10 -16 91.1 69.7 0.4883 17.1 81.9
64 11 -15 91.7 70.2 0.4893 17.0 81.9
65 0 -14 92.2 70.6 0.4904 17.0 82.0
65 1 -13 92.8 71.0 0.4915 17.0 82.0
65 2 -12 93.3 71.4 0.4926 16.9 82.1
65 3 -11 93.9 71.9 0.4938 16.9 82.1
65 4 -10 94.4 72.3 0.4950 16.8 82.2
65 5 -9 95.0 72.7 0.4963 16.8 82.2
65 6 -8 95.6 73.1 0.4976 16.7 82.2
65 7 -7 96.1 73.6 0.4990 16.7 82.3
65 8 -6 96.7 74.0 0.5004 16.7 82.3
65 9 -5 97.2 74.4 0.5019 16.6 82.4
65 10 -4 97.8 74.8 0.5034 16.6 82.4
65 11 -3 98.3 75.3 0.5050 16.5 82.4
66 0 -2 98.9 75.7 0.5067 16.4 82.4
66 1 -1 99.4 76.1 0.5084 16.4 82.5
66 2 +0 100.0 76.5 0.5102 16.3 82.5
66 3 +1 100.7 77.0 0.5102 16.3 82.6
66 4 +2 101.3 77.6 0.5102 16.3 82.7
66 5 +3 102.0 78.1 0.5102 16.3 82.8
66 6 +4 102.7 78.6 0.5102 16.3 82.8
66 7 +5 103.3 79.1 0.5102 16.3 82.9
66 8 +6 104.0 79.6 0.5102 16.3 83.0
66 9 +7 104.7 80.1 0.5102 16.3 83.1
66 10 +8 105.3 80.6 0.5102 16.3 83.2
66 11 +9 106.0 81.1 0.5102 16.3 83.2
67 0 +10 106.7 81.6 0.5102 16.3 83.3
67 1 +11 107.3 82.1 0.5102 16.3 83.4
67 2 +12 108.0 82.7 0.5102 16.3 83.5
67 3 +13 108.7 83.2 0.5102 16.3 83.6
67 4 +14 109.3 83.7 0.5102 16.3 83.7
67 5 +15 110.0 84.2 0.5102 16.3 83.8
67 6 +16 110.7 84.7 0.5102 16.3 83.8
67 7 +17 111.3 85.2 0.5102 16.3 83.9
67 8 +18 112.0 85.7 0.5102 16.3 84.0
67 9 +19 112.7 86.2 0.5102 16.3 84.1
67 10 +20 113.3 86.7 0.5102 16.3 84.2
67 11 +21 114.0 87.2 0.5102 16.3 84.2
68 0 +22 114.7 87.8 0.5102 16.3 84.3
68 1 +23 115.3 88.3 0.5102 16.3 84.4
68 2 +24 116.0 88.8 0.5102 16.3 84.5
68 3 +25 116.7 89.3 0.5102 16.3 84.6
68 4 +26 117.3 89.8 0.5102 16.3 84.7
68 5 +27 118.0 90.3 0.5102 16.3 84.8
68 6 +28 118.7 90.8 0.5102 16.3 84.8
68 7 +29 119.3 91.3 0.5102 16.3 84.9
68 8 +30 120.0 91.8 0.5102 16.3 85.0
68 9 +31 120.7 92.3 0.5102 16.3 85.1
68 10 +32 121.3 92.9 0.5102 16.3 85.2
68 11 +33 122.0 93.4 0.5102 16.3 85.2
69 0 +34 122.7 93.9 0.5102 16.3 85.3
69 1 +35 123.3 94.4 0.5102 16.3 85.4
69 2 +36 124.0 94.9 0.5102 16.3 85.5
69 3 +37 124.7 95.4 0.5102 16.3 85.6
69 4 +38 125.3 95.9 0.5102 16.3 85.7
69 5 +39 126.0 96.4 0.5102 16.3 85.8
69 6 +40 126.7 96.9 0.5102 16.3 85.8
69 7 +41 127.3 97.4 0.5102 16.3 85.9
69 8 +42 128.0 98.0 0.5102 16.3 86.0
69 9 +43 128.7 98.5 0.5102 16.3 86.1
69 10 +44 129.3 99.0 0.5102 16.3 86.2
69 11 +45 130.0 99.5 0.5102 16.3 86.2
70 0 +46 130.7 100.0 0.5102 16.3 86.3
Birth year = 1956: FRA = 66 years + 4 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5155% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -52 73.3 56.7 0.4510 18.5 80.5
63 0 -40 78.3 60.6 0.4694 17.8 80.8
64 0 -28 84.4 65.3 0.4821 17.3 81.3
65 0 -16 91.1 70.4 0.4926 16.9 81.9
66 0 -4 97.8 75.6 0.5083 16.4 82.4
67 0 +8 105.3 81.4 0.5155 16.2 83.2
68 0 +20 113.3 87.6 0.5155 16.2 84.2
69 0 +32 121.3 93.8 0.5155 16.2 85.2
70 0 +44 129.3 100.0 0.5155 16.2 86.2
Birth year = 1956: FRA = 66 years + 4 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5155% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -52 73.3 56.7 0.4510 18.5 80.5
62 1 -51 73.8 57.0 0.4524 18.4 80.5
62 2 -50 74.2 57.3 0.4538 18.4 80.5
62 3 -49 74.6 57.7 0.4552 18.3 80.6
62 4 -48 75.0 58.0 0.4566 18.2 80.6
62 5 -47 75.4 58.3 0.4581 18.2 80.6
62 6 -46 75.8 58.6 0.4596 18.1 80.6
62 7 -45 76.2 59.0 0.4612 18.1 80.7
62 8 -44 76.7 59.3 0.4627 18.0 80.7
62 9 -43 77.1 59.6 0.4644 17.9 80.7
62 10 -42 77.5 59.9 0.4660 17.9 80.7
62 11 -41 77.9 60.2 0.4677 17.8 80.7
63 0 -40 78.3 60.6 0.4694 17.8 80.8
63 1 -39 78.8 60.9 0.4712 17.7 80.8
63 2 -38 79.2 61.2 0.4730 17.6 80.8
63 3 -37 79.6 61.5 0.4749 17.5 80.8
63 4 -36 80.0 61.9 0.4768 17.5 80.8
63 5 -35 80.6 62.3 0.4774 17.5 80.9
63 6 -34 81.1 62.7 0.4780 17.4 80.9
63 7 -33 81.7 63.1 0.4786 17.4 81.0
63 8 -32 82.2 63.6 0.4793 17.4 81.1
63 9 -31 82.8 64.0 0.4800 17.4 81.1
63 10 -30 83.3 64.4 0.4806 17.3 81.2
63 11 -29 83.9 64.9 0.4813 17.3 81.2
64 0 -28 84.4 65.3 0.4821 17.3 81.3
64 1 -27 85.0 65.7 0.4828 17.3 81.3
64 2 -26 85.6 66.2 0.4836 17.2 81.4
64 3 -25 86.1 66.6 0.4843 17.2 81.5
64 4 -24 86.7 67.0 0.4851 17.2 81.5
64 5 -23 87.2 67.4 0.4860 17.1 81.6
64 6 -22 87.8 67.9 0.4868 17.1 81.6
64 7 -21 88.3 68.3 0.4877 17.1 81.7
64 8 -20 88.9 68.7 0.4886 17.1 81.7
64 9 -19 89.4 69.2 0.4896 17.0 81.8
64 10 -18 90.0 69.6 0.4905 17.0 81.8
64 11 -17 90.6 70.0 0.4915 17.0 81.9
65 0 -16 91.1 70.4 0.4926 16.9 81.9
65 1 -15 91.7 70.9 0.4936 16.9 82.0
65 2 -14 92.2 71.3 0.4947 16.8 82.0
65 3 -13 92.8 71.7 0.4959 16.8 82.1
65 4 -12 93.3 72.2 0.4971 16.8 82.1
65 5 -11 93.9 72.6 0.4983 16.7 82.1
65 6 -10 94.4 73.0 0.4996 16.7 82.2
65 7 -9 95.0 73.5 0.5009 16.6 82.2
65 8 -8 95.6 73.9 0.5022 16.6 82.3
65 9 -7 96.1 74.3 0.5037 16.5 82.3
65 10 -6 96.7 74.7 0.5052 16.5 82.3
65 11 -5 97.2 75.2 0.5067 16.4 82.4
66 0 -4 97.8 75.6 0.5083 16.4 82.4
66 1 -3 98.3 76.0 0.5100 16.3 82.4
66 2 -2 98.9 76.5 0.5117 16.3 82.5
66 3 -1 99.4 76.9 0.5136 16.2 82.5
66 4 +0 100.0 77.3 0.5155 16.2 82.5
66 5 +1 100.7 77.8 0.5155 16.2 82.6
66 6 +2 101.3 78.4 0.5155 16.2 82.7
66 7 +3 102.0 78.9 0.5155 16.2 82.7
66 8 +4 102.7 79.4 0.5155 16.2 82.8
66 9 +5 103.3 79.9 0.5155 16.2 82.9
66 10 +6 104.0 80.4 0.5155 16.2 83.0
66 11 +7 104.7 80.9 0.5155 16.2 83.1
67 0 +8 105.3 81.4 0.5155 16.2 83.2
67 1 +9 106.0 82.0 0.5155 16.2 83.2
67 2 +10 106.7 82.5 0.5155 16.2 83.3
67 3 +11 107.3 83.0 0.5155 16.2 83.4
67 4 +12 108.0 83.5 0.5155 16.2 83.5
67 5 +13 108.7 84.0 0.5155 16.2 83.6
67 6 +14 109.3 84.5 0.5155 16.2 83.7
67 7 +15 110.0 85.1 0.5155 16.2 83.7
67 8 +16 110.7 85.6 0.5155 16.2 83.8
67 9 +17 111.3 86.1 0.5155 16.2 83.9
67 10 +18 112.0 86.6 0.5155 16.2 84.0
67 11 +19 112.7 87.1 0.5155 16.2 84.1
68 0 +20 113.3 87.6 0.5155 16.2 84.2
68 1 +21 114.0 88.1 0.5155 16.2 84.2
68 2 +22 114.7 88.7 0.5155 16.2 84.3
68 3 +23 115.3 89.2 0.5155 16.2 84.4
68 4 +24 116.0 89.7 0.5155 16.2 84.5
68 5 +25 116.7 90.2 0.5155 16.2 84.6
68 6 +26 117.3 90.7 0.5155 16.2 84.7
68 7 +27 118.0 91.2 0.5155 16.2 84.7
68 8 +28 118.7 91.8 0.5155 16.2 84.8
68 9 +29 119.3 92.3 0.5155 16.2 84.9
68 10 +30 120.0 92.8 0.5155 16.2 85.0
68 11 +31 120.7 93.3 0.5155 16.2 85.1
69 0 +32 121.3 93.8 0.5155 16.2 85.2
69 1 +33 122.0 94.3 0.5155 16.2 85.2
69 2 +34 122.7 94.8 0.5155 16.2 85.3
69 3 +35 123.3 95.4 0.5155 16.2 85.4
69 4 +36 124.0 95.9 0.5155 16.2 85.5
69 5 +37 124.7 96.4 0.5155 16.2 85.6
69 6 +38 125.3 96.9 0.5155 16.2 85.7
69 7 +39 126.0 97.4 0.5155 16.2 85.7
69 8 +40 126.7 97.9 0.5155 16.2 85.8
69 9 +41 127.3 98.5 0.5155 16.2 85.9
69 10 +42 128.0 99.0 0.5155 16.2 86.0
69 11 +43 128.7 99.5 0.5155 16.2 86.1
70 0 +44 129.3 100.0 0.5155 16.2 86.2
Birth year = 1957: FRA = 66 years + 6 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5208% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -54 72.5 56.6 0.4517 18.5 80.5
63 0 -42 77.5 60.5 0.4697 17.7 80.7
64 0 -30 83.3 65.1 0.4847 17.2 81.2
65 0 -18 90.0 70.3 0.4948 16.8 81.8
66 0 -6 96.7 75.5 0.5100 16.3 82.3
67 0 +6 104.0 81.2 0.5208 16.0 83.0
68 0 +18 112.0 87.5 0.5208 16.0 84.0
69 0 +30 120.0 93.8 0.5208 16.0 85.0
70 0 +42 128.0 100.0 0.5208 16.0 86.0
Birth year = 1957: FRA = 66 years + 6 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5208% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -54 72.5 56.6 0.4517 18.5 80.5
62 1 -53 72.9 57.0 0.4530 18.4 80.5
62 2 -52 73.3 57.3 0.4543 18.3 80.5
62 3 -51 73.8 57.6 0.4557 18.3 80.5
62 4 -50 74.2 57.9 0.4571 18.2 80.6
62 5 -49 74.6 58.3 0.4586 18.2 80.6
62 6 -48 75.0 58.6 0.4601 18.1 80.6
62 7 -47 75.4 58.9 0.4616 18.1 80.6
62 8 -46 75.8 59.2 0.4631 18.0 80.7
62 9 -45 76.2 59.6 0.4647 17.9 80.7
62 10 -44 76.7 59.9 0.4663 17.9 80.7
62 11 -43 77.1 60.2 0.4680 17.8 80.7
63 0 -42 77.5 60.5 0.4697 17.7 80.7
63 1 -41 77.9 60.9 0.4714 17.7 80.8
63 2 -40 78.3 61.2 0.4732 17.6 80.8
63 3 -39 78.8 61.5 0.4750 17.5 80.8
63 4 -38 79.2 61.8 0.4769 17.5 80.8
63 5 -37 79.6 62.2 0.4788 17.4 80.8
63 6 -36 80.0 62.5 0.4808 17.3 80.8
63 7 -35 80.6 62.9 0.4814 17.3 80.9
63 8 -34 81.1 63.4 0.4820 17.3 81.0
63 9 -33 81.7 63.8 0.4826 17.3 81.0
63 10 -32 82.2 64.2 0.4833 17.2 81.1
63 11 -31 82.8 64.7 0.4840 17.2 81.1
64 0 -30 83.3 65.1 0.4847 17.2 81.2
64 1 -29 83.9 65.5 0.4854 17.2 81.3
64 2 -28 84.4 66.0 0.4861 17.1 81.3
64 3 -27 85.0 66.4 0.4869 17.1 81.4
64 4 -26 85.6 66.8 0.4876 17.1 81.4
64 5 -25 86.1 67.3 0.4884 17.1 81.5
64 6 -24 86.7 67.7 0.4893 17.0 81.5
64 7 -23 87.2 68.1 0.4901 17.0 81.6
64 8 -22 87.8 68.6 0.4910 17.0 81.6
64 9 -21 88.3 69.0 0.4919 16.9 81.7
64 10 -20 88.9 69.4 0.4928 16.9 81.7
64 11 -19 89.4 69.9 0.4938 16.9 81.8
65 0 -18 90.0 70.3 0.4948 16.8 81.8
65 1 -17 90.6 70.7 0.4958 16.8 81.9
65 2 -16 91.1 71.2 0.4969 16.8 81.9
65 3 -15 91.7 71.6 0.4980 16.7 82.0
65 4 -14 92.2 72.0 0.4991 16.7 82.0
65 5 -13 92.8 72.5 0.5003 16.7 82.1
65 6 -12 93.3 72.9 0.5015 16.6 82.1
65 7 -11 93.9 73.4 0.5028 16.6 82.2
65 8 -10 94.4 73.8 0.5041 16.5 82.2
65 9 -9 95.0 74.2 0.5055 16.5 82.2
65 10 -8 95.6 74.7 0.5069 16.4 82.3
65 11 -7 96.1 75.1 0.5084 16.4 82.3
66 0 -6 96.7 75.5 0.5100 16.3 82.3
66 1 -5 97.2 76.0 0.5116 16.3 82.4
66 2 -4 97.8 76.4 0.5133 16.2 82.4
66 3 -3 98.3 76.8 0.5150 16.2 82.4
66 4 -2 98.9 77.3 0.5169 16.1 82.5
66 5 -1 99.4 77.7 0.5188 16.1 82.5
66 6 +0 100.0 78.1 0.5208 16.0 82.5
66 7 +1 100.7 78.6 0.5208 16.0 82.6
66 8 +2 101.3 79.2 0.5208 16.0 82.7
66 9 +3 102.0 79.7 0.5208 16.0 82.8
66 10 +4 102.7 80.2 0.5208 16.0 82.8
66 11 +5 103.3 80.7 0.5208 16.0 82.9
67 0 +6 104.0 81.2 0.5208 16.0 83.0
67 1 +7 104.7 81.8 0.5208 16.0 83.1
67 2 +8 105.3 82.3 0.5208 16.0 83.2
67 3 +9 106.0 82.8 0.5208 16.0 83.2
67 4 +10 106.7 83.3 0.5208 16.0 83.3
67 5 +11 107.3 83.9 0.5208 16.0 83.4
67 6 +12 108.0 84.4 0.5208 16.0 83.5
67 7 +13 108.7 84.9 0.5208 16.0 83.6
67 8 +14 109.3 85.4 0.5208 16.0 83.7
67 9 +15 110.0 85.9 0.5208 16.0 83.8
67 10 +16 110.7 86.5 0.5208 16.0 83.8
67 11 +17 111.3 87.0 0.5208 16.0 83.9
68 0 +18 112.0 87.5 0.5208 16.0 84.0
68 1 +19 112.7 88.0 0.5208 16.0 84.1
68 2 +20 113.3 88.5 0.5208 16.0 84.2
68 3 +21 114.0 89.1 0.5208 16.0 84.2
68 4 +22 114.7 89.6 0.5208 16.0 84.3
68 5 +23 115.3 90.1 0.5208 16.0 84.4
68 6 +24 116.0 90.6 0.5208 16.0 84.5
68 7 +25 116.7 91.1 0.5208 16.0 84.6
68 8 +26 117.3 91.7 0.5208 16.0 84.7
68 9 +27 118.0 92.2 0.5208 16.0 84.8
68 10 +28 118.7 92.7 0.5208 16.0 84.8
68 11 +29 119.3 93.2 0.5208 16.0 84.9
69 0 +30 120.0 93.8 0.5208 16.0 85.0
69 1 +31 120.7 94.3 0.5208 16.0 85.1
69 2 +32 121.3 94.8 0.5208 16.0 85.2
69 3 +33 122.0 95.3 0.5208 16.0 85.2
69 4 +34 122.7 95.8 0.5208 16.0 85.3
69 5 +35 123.3 96.4 0.5208 16.0 85.4
69 6 +36 124.0 96.9 0.5208 16.0 85.5
69 7 +37 124.7 97.4 0.5208 16.0 85.6
69 8 +38 125.3 97.9 0.5208 16.0 85.7
69 9 +39 126.0 98.4 0.5208 16.0 85.8
69 10 +40 126.7 99.0 0.5208 16.0 85.8
69 11 +41 127.3 99.5 0.5208 16.0 85.9
70 0 +42 128.0 100.0 0.5208 16.0 86.0
Birth year = 1958: FRA = 66 years + 8 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5263% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -56 71.7 56.6 0.4523 18.4 80.4
63 0 -44 76.7 60.5 0.4699 17.7 80.7
64 0 -32 82.2 64.9 0.4873 17.1 81.1
65 0 -20 88.9 70.2 0.4971 16.8 81.8
66 0 -8 95.6 75.4 0.5117 16.3 82.3
67 0 +4 102.7 81.1 0.5263 15.8 82.8
68 0 +16 110.7 87.4 0.5263 15.8 83.8
69 0 +28 118.7 93.7 0.5263 15.8 84.8
70 0 +40 126.7 100.0 0.5263 15.8 85.8
Birth year = 1958: FRA = 66 years + 8 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5263% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -56 71.7 56.6 0.4523 18.4 80.4
62 1 -55 72.1 56.9 0.4536 18.4 80.5
62 2 -54 72.5 57.2 0.4549 18.3 80.5
62 3 -53 72.9 57.6 0.4563 18.3 80.5
62 4 -52 73.3 57.9 0.4577 18.2 80.5
62 5 -51 73.8 58.2 0.4591 18.2 80.6
62 6 -50 74.2 58.6 0.4605 18.1 80.6
62 7 -49 74.6 58.9 0.4620 18.0 80.6
62 8 -48 75.0 59.2 0.4635 18.0 80.6
62 9 -47 75.4 59.5 0.4651 17.9 80.7
62 10 -46 75.8 59.9 0.4666 17.9 80.7
62 11 -45 76.2 60.2 0.4683 17.8 80.7
63 0 -44 76.7 60.5 0.4699 17.7 80.7
63 1 -43 77.1 60.9 0.4716 17.7 80.8
63 2 -42 77.5 61.2 0.4734 17.6 80.8
63 3 -41 77.9 61.5 0.4751 17.5 80.8
63 4 -40 78.3 61.8 0.4770 17.5 80.8
63 5 -39 78.8 62.2 0.4788 17.4 80.8
63 6 -38 79.2 62.5 0.4808 17.3 80.8
63 7 -37 79.6 62.8 0.4827 17.3 80.8
63 8 -36 80.0 63.2 0.4848 17.2 80.9
63 9 -35 80.6 63.6 0.4854 17.2 80.9
63 10 -34 81.1 64.0 0.4860 17.1 81.0
63 11 -33 81.7 64.5 0.4867 17.1 81.0
64 0 -32 82.2 64.9 0.4873 17.1 81.1
64 1 -31 82.8 65.4 0.4880 17.1 81.2
64 2 -30 83.3 65.8 0.4887 17.1 81.2
64 3 -29 83.9 66.2 0.4894 17.0 81.3
64 4 -28 84.4 66.7 0.4902 17.0 81.3
64 5 -27 85.0 67.1 0.4910 17.0 81.4
64 6 -26 85.6 67.5 0.4918 16.9 81.4
64 7 -25 86.1 68.0 0.4926 16.9 81.5
64 8 -24 86.7 68.4 0.4934 16.9 81.6
64 9 -23 87.2 68.9 0.4943 16.9 81.6
64 10 -22 87.8 69.3 0.4952 16.8 81.7
64 11 -21 88.3 69.7 0.4961 16.8 81.7
65 0 -20 88.9 70.2 0.4971 16.8 81.8
65 1 -19 89.4 70.6 0.4981 16.7 81.8
65 2 -18 90.0 71.1 0.4991 16.7 81.9
65 3 -17 90.6 71.5 0.5002 16.7 81.9
65 4 -16 91.1 71.9 0.5013 16.6 82.0
65 5 -15 91.7 72.4 0.5024 16.6 82.0
65 6 -14 92.2 72.8 0.5036 16.5 82.0
65 7 -13 92.8 73.2 0.5048 16.5 82.1
65 8 -12 93.3 73.7 0.5061 16.5 82.1
65 9 -11 93.9 74.1 0.5074 16.4 82.2
65 10 -10 94.4 74.6 0.5088 16.4 82.2
65 11 -9 95.0 75.0 0.5102 16.3 82.3
66 0 -8 95.6 75.4 0.5117 16.3 82.3
66 1 -7 96.1 75.9 0.5133 16.2 82.3
66 2 -6 96.7 76.3 0.5149 16.2 82.4
66 3 -5 97.2 76.8 0.5166 16.1 82.4
66 4 -4 97.8 77.2 0.5183 16.1 82.4
66 5 -3 98.3 77.6 0.5202 16.0 82.4
66 6 -2 98.9 78.1 0.5221 16.0 82.5
66 7 -1 99.4 78.5 0.5242 15.9 82.5
66 8 +0 100.0 78.9 0.5263 15.8 82.5
66 9 +1 100.7 79.5 0.5263 15.8 82.6
66 10 +2 101.3 80.0 0.5263 15.8 82.7
66 11 +3 102.0 80.5 0.5263 15.8 82.8
67 0 +4 102.7 81.1 0.5263 15.8 82.8
67 1 +5 103.3 81.6 0.5263 15.8 82.9
67 2 +6 104.0 82.1 0.5263 15.8 83.0
67 3 +7 104.7 82.6 0.5263 15.8 83.1
67 4 +8 105.3 83.2 0.5263 15.8 83.2
67 5 +9 106.0 83.7 0.5263 15.8 83.2
67 6 +10 106.7 84.2 0.5263 15.8 83.3
67 7 +11 107.3 84.7 0.5263 15.8 83.4
67 8 +12 108.0 85.3 0.5263 15.8 83.5
67 9 +13 108.7 85.8 0.5263 15.8 83.6
67 10 +14 109.3 86.3 0.5263 15.8 83.7
67 11 +15 110.0 86.8 0.5263 15.8 83.8
68 0 +16 110.7 87.4 0.5263 15.8 83.8
68 1 +17 111.3 87.9 0.5263 15.8 83.9
68 2 +18 112.0 88.4 0.5263 15.8 84.0
68 3 +19 112.7 88.9 0.5263 15.8 84.1
68 4 +20 113.3 89.5 0.5263 15.8 84.2
68 5 +21 114.0 90.0 0.5263 15.8 84.2
68 6 +22 114.7 90.5 0.5263 15.8 84.3
68 7 +23 115.3 91.1 0.5263 15.8 84.4
68 8 +24 116.0 91.6 0.5263 15.8 84.5
68 9 +25 116.7 92.1 0.5263 15.8 84.6
68 10 +26 117.3 92.6 0.5263 15.8 84.7
68 11 +27 118.0 93.2 0.5263 15.8 84.8
69 0 +28 118.7 93.7 0.5263 15.8 84.8
69 1 +29 119.3 94.2 0.5263 15.8 84.9
69 2 +30 120.0 94.7 0.5263 15.8 85.0
69 3 +31 120.7 95.3 0.5263 15.8 85.1
69 4 +32 121.3 95.8 0.5263 15.8 85.2
69 5 +33 122.0 96.3 0.5263 15.8 85.2
69 6 +34 122.7 96.8 0.5263 15.8 85.3
69 7 +35 123.3 97.4 0.5263 15.8 85.4
69 8 +36 124.0 97.9 0.5263 15.8 85.5
69 9 +37 124.7 98.4 0.5263 15.8 85.6
69 10 +38 125.3 98.9 0.5263 15.8 85.7
69 11 +39 126.0 99.5 0.5263 15.8 85.8
70 0 +40 126.7 100.0 0.5263 15.8 85.8
Birth year = 1959: FRA = 66 years + 10 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5319% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -58 70.8 56.5 0.4530 18.4 80.4
63 0 -46 75.8 60.5 0.4702 17.7 80.7
64 0 -34 81.1 64.7 0.4901 17.0 81.0
65 0 -22 87.8 70.0 0.4994 16.7 81.7
66 0 -10 94.4 75.4 0.5134 16.2 82.2
67 0 +2 101.3 80.9 0.5319 15.7 82.7
68 0 +14 109.3 87.2 0.5319 15.7 83.7
69 0 +26 117.3 93.6 0.5319 15.7 84.7
70 0 +38 125.3 100.0 0.5319 15.7 85.7
Birth year = 1959: FRA = 66 years + 10 months.
SS discount/bonus rates when starting payments before age 70:
0.4167% (5/12) monthly discount before FRA-36 months
0.5556% (5/9) monthly discount between FRA-36 months and FRA
0.6667% (8/12) monthly bonus for deferring after FRA
0.5319% equivalent monthly discount rate between this FRA and age 70
Note: The first three values are the same for everyone born 1943 or later.
The last value depends on your birth year => FRA => number of months from FRA
until age 70. While the bonus rate is fixed at 8%/year, the effective annual
or monthly discount rate versus age 70 depends on the time span.
START TIL VS-FRA VS-70 EFF BREAK-EVEN
YR MO FRA PAY% PAY% DISC% YEARS AGE
62 0 -58 70.8 56.5 0.4530 18.4 80.4
62 1 -57 71.2 56.8 0.4542 18.3 80.4
62 2 -56 71.7 57.2 0.4555 18.3 80.5
62 3 -55 72.1 57.5 0.4568 18.2 80.5
62 4 -54 72.5 57.8 0.4582 18.2 80.5
62 5 -53 72.9 58.2 0.4596 18.1 80.5
62 6 -52 73.3 58.5 0.4610 18.1 80.6
62 7 -51 73.8 58.8 0.4624 18.0 80.6
62 8 -50 74.2 59.2 0.4639 18.0 80.6
62 9 -49 74.6 59.5 0.4654 17.9 80.7
62 10 -48 75.0 59.8 0.4670 17.8 80.7
62 11 -47 75.4 60.2 0.4686 17.8 80.7
63 0 -46 75.8 60.5 0.4702 17.7 80.7
63 1 -45 76.2 60.8 0.4718 17.7 80.7
63 2 -44 76.7 61.2 0.4735 17.6 80.8
63 3 -43 77.1 61.5 0.4753 17.5 80.8
63 4 -42 77.5 61.8 0.4771 17.5 80.8
63 5 -41 77.9 62.2 0.4789 17.4 80.8
63 6 -40 78.3 62.5 0.4808 17.3 80.8
63 7 -39 78.8 62.8 0.4827 17.3 80.8
63 8 -38 79.2 63.2 0.4847 17.2 80.9
63 9 -37 79.6 63.5 0.4867 17.1 80.9
63 10 -36 80.0 63.8 0.4888 17.0 80.9
63 11 -35 80.6 64.3 0.4894 17.0 80.9
64 0 -34 81.1 64.7 0.4901 17.0 81.0
64 1 -33 81.7 65.2 0.4907 17.0 81.1
64 2 -32 82.2 65.6 0.4914 17.0 81.1
64 3 -31 82.8 66.0 0.4921 16.9 81.2
64 4 -30 83.3 66.5 0.4928 16.9 81.2
64 5 -29 83.9 66.9 0.4935 16.9 81.3
64 6 -28 84.4 67.4 0.4943 16.9 81.4
64 7 -27 85.0 67.8 0.4951 16.8 81.4
64 8 -26 85.6 68.3 0.4959 16.8 81.5
64 9 -25 86.1 68.7 0.4967 16.8 81.5
64 10 -24 86.7 69.1 0.4976 16.7 81.6
64 11 -23 87.2 69.6 0.4985 16.7 81.6
65 0 -22 87.8 70.0 0.4994 16.7 81.7
65 1 -21 88.3 70.5 0.5004 16.7 81.7
65 2 -20 88.9 70.9 0.5013 16.6 81.8
65 3 -19 89.4 71.4 0.5024 16.6 81.8
65 4 -18 90.0 71.8 0.5034 16.6 81.9
65 5 -17 90.6 72.3 0.5045 16.5 81.9
65 6 -16 91.1 72.7 0.5056 16.5 82.0
65 7 -15 91.7 73.1 0.5068 16.4 82.0
65 8 -14 92.2 73.6 0.5080 16.4 82.1
65 9 -13 92.8 74.0 0.5093 16.4 82.1
65 10 -12 93.3 74.5 0.5106 16.3 82.2
65 11 -11 93.9 74.9 0.5120 16.3 82.2
66 0 -10 94.4 75.4 0.5134 16.2 82.2
66 1 -9 95.0 75.8 0.5149 16.2 82.3
66 2 -8 95.6 76.2 0.5165 16.1 82.3
66 3 -7 96.1 76.7 0.5181 16.1 82.3
66 4 -6 96.7 77.1 0.5198 16.0 82.4
66 5 -5 97.2 77.6 0.5216 16.0 82.4
66 6 -4 97.8 78.0 0.5235 15.9 82.4
66 7 -3 98.3 78.5 0.5254 15.9 82.4
66 8 -2 98.9 78.9 0.5275 15.8 82.5
66 9 -1 99.4 79.3 0.5296 15.7 82.5
66 10 +0 100.0 79.8 0.5319 15.7 82.5
66 11 +1 100.7 80.3 0.5319 15.7 82.6
67 0 +2 101.3 80.9 0.5319 15.7 82.7
67 1 +3 102.0 81.4 0.5319 15.7 82.8
67 2 +4 102.7 81.9 0.5319 15.7 82.8
67 3 +5 103.3 82.4 0.5319 15.7 82.9
67 4 +6 104.0 83.0 0.5319 15.7 83.0
67 5 +7 104.7 83.5 0.5319 15.7 83.1
67 6 +8 105.3 84.0 0.5319 15.7 83.2
67 7 +9 106.0 84.6 0.5319 15.7 83.2
67 8 +10 106.7 85.1 0.5319 15.7 83.3
67 9 +11 107.3 85.6 0.5319 15.7 83.4
67 10 +12 108.0 86.2 0.5319 15.7 83.5
67 11 +13 108.7 86.7 0.5319 15.7 83.6
68 0 +14 109.3 87.2 0.5319 15.7 83.7
68 1 +15 110.0 87.8 0.5319 15.7 83.8
68 2 +16 110.7 88.3 0.5319 15.7 83.8
68 3 +17 111.3 88.8 0.5319 15.7 83.9
68 4 +18 112.0 89.4 0.5319 15.7 84.0
68 5 +19 112.7 89.9 0.5319 15.7 84.1
68 6 +20 113.3 90.4 0.5319 15.7 84.2
68 7 +21 114.0 91.0 0.5319 15.7 84.2
68 8 +22 114.7 91.5 0.5319 15.7 84.3
68 9 +23 115.3 92.0 0.5319 15.7 84.4
68 10 +24 116.0 92.6 0.5319 15.7 84.5
68 11 +25 116.7 93.1 0.5319 15.7 84.6
69 0 +26 117.3 93.6 0.5319 15.7 84.7
69 1 +27 118.0 94.1 0.5319 15.7 84.8
69 2 +28 118.7 94.7 0.5319 15.7 84.8
69 3 +29 119.3 95.2 0.5319 15.7 84.9
69 4 +30 120.0 95.7 0.5319 15.7 85.0
69 5 +31 120.7 96.3 0.5319 15.7 85.1
69 6 +32 121.3 96.8 0.5319 15.7 85.2
69 7 +33 122.0 97.3 0.5319 15.7 85.2
69 8 +34 122.7 97.9 0.5319 15.7 85.3
69 9 +35 123.3 98.4 0.5319 15.7 85.4
69 10 +36 124.0 98.9 0.5319 15.7 85.5
69 11 +37 124.7 99.5 0.5319 15.7 85.6
70 0 +38 125.3 100.0 0.5319 15.7 85.7