20 CFR § 404.312 - How is my old-age benefit amount calculated?

---
identifier: "/us/cfr/t20/s404.312"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "20 CFR § 404.312 - How is my old-age benefit amount calculated?"
title_number: 20
title_name: "Employees' Benefits"
section_number: "404.312"
section_name: "How is my old-age benefit amount calculated?"
chapter_name: "SOCIAL SECURITY ADMINISTRATION"
part_number: "404"
part_name: "FEDERAL OLD-AGE, SURVIVORS AND DISABILITY INSURANCE (1950-  )"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
cfr_part: "404"
---


# 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.

[68 FR 4702, Jan. 30, 2003]