CFR > Title 20 - Employees' Benefits > CHAPTER III—SOCIAL SECURITY ADMINISTRATION > PART 404—FEDERAL OLD-AGE, SURVIVORS AND DISABILITY INSURANCE (1950-) > SUBPART D—Old-Age, Disability, Dependents' and Survivors' Insurance Benefits; Period of Disability (§404.301 to §404.392) > 404.312—How is my old-age benefit amount calculated?

404.312—How is my old-age benefit amount calculated?

(a) If your old-age benefits begin in the month you attain full retirement age (as defined in § 404.409 ), your monthly benefit is equal to the primary insurance amount (as explained in subpart C of this part).
(b) If your old-age benefits begin after the month you attain full retirement age, your monthly benefit is your primary insurance amount plus an increase for retiring after full retirement age. See § 404.313 for a description of these increases.
(c) If your old-age benefits begin before the month you attain full retirement age, your monthly benefit amount is the primary insurance amount minus a reduction for each month you are entitled before you attain full retirement age. These reductions are described in §§ 404.410 through 404.413.

Code of Federal Regulations

[68 FR 4702, Jan. 30, 2003]