Projected payment versus actual payment

@maryd666163 

The estimate is based on your continuing to work to the dates that they give in the estimate - age 62 (early), age of FRA and at 70 years old.  

Your estimate should be close but it may not have the early reduction factor built in - been a long time since I saw one.  

You do realize that your benefit will have a reduction factor of the one at FRA.  

SSA.gov- Starting your benefits early 

SSA.gov - Benefit Reduction for Early Retirement  

With the new format SSA statements they started a couple of years ago, I think it was in 2020 or 2021, the amount for your current age isn't that far off but it may not include your most recent year of earnings.  You'll have to check your earnings history on the statement or at SSA online to see if your latest year of earnings are posted.  I seem to recall, the estimated payment is the amount you would have collected starting in January of the year you turn that age and not as of your birthday, except for the age 62 and age 70 amounts.  For the 62 and 70, I think it's the amount at the earliest you can start and the latest you can start, in other words, the month after your 62nd birthday and the month you turn 70.  The last time I saw a new one was just before I started my benefit and it had an estimate for every year from my current age to age 70.

Don't get discouraged that you don't have an answer after 30 days.  I didn't get an approval letter until the month of my first payment.  Same thing happened with my sister, too.