Q: The online Social Security Statement retirement estimates cannot be changed to consider different plans. Can I estimate my retirement amount using different earnings or ages?
A: Yes. Estimate the effect of lower or higher future earnings, or retirement at different retirement ages, with the Retirement Estimator at www.socialsecurity.gov/estimator/.
One of the Social Security retirement planning tools in the Retirement Planner section at www.socialsecurity.gov/retire2/, the Estimator connects to your actual Social Security earnings record to provide personal retirement estimates at age 62, at your full retirement age (FRA), and at age 70.
Just as on your Statement estimate, the initial Retirement Estimator reply assumes your most recent wages or self-employment earnings will continue into the future. Unlike the Statement, with the Estimator you can change the default reply to obtain estimates at different ages or with different future earnings amounts.
Comparing multiple estimates for any given age based on the initial earnings level and then with lower or higher earnings provides an approximate result of different earnings on your future SSA retirement amount. With separate requests, you can estimate benefits based on either lower or higher earnings. Future earnings of more than one amount cannot be used in one estimate.
Your actual Social Security retirement monthly amount is based on your best 35 years of employment and your age, in months, compared to your full retirement age. The Retirement Estimator provides estimates at different ages.
For estimates in specific months, other online tools are available in the Retirement Planner section, www.socialsecurity.gov/retire2/. If your interest is only for months before your full retirement age (FRA), use the chart for your FRA. To consider months either before or after your FRA, go here.
You can use the Retirement Estimator if you are enrolled in Medicare, but not if you have applied for or receive SSA benefits. The Estimator reply does not show your personal information or earnings record.
To view your Social Security Statement create a my Social Security account at www.socialsecurity.gov/myaccount/. Your Statement will also show your earnings record and family benefit estimates not available elsewhere.