Social Security Questions? Ask a Social Security Expert
Many people wonder how the SSA figures their Social Security retirement benefit.
The Social Security Administration bases Social Security benefits on your lifetime earnings. They adjust or index your actual earnings to account for changes in average wages since the year the earnings were received.
Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most. And after that - they apply a formula to these earnings and arrive at your basic benefit, or primary insurance amount.
This is how much you would receive at your full retirement age. So depending on your earning record - it is possible that there are some missing years or earning.
If so - that could affect your social security benefit calculations and you may contact the Social Security Administration.Following publication might be helpful for better understanding the calculations
If you are looking for your specific calculations - the best source woudl be the social security statement.You can get your personal Social Security Statement online by using your my Social Security account. If you don’t yet have an account, you can easily create one. Your online Statement gives you secure and convenient access to your earnings records. It also shows estimates for retirement, disability and survivors benefits you and your family may be eligible for.Let me know if you need help in getting the statement.
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