How to Find and Read Your Social Security Statement

If Social Security benefits figure into your retirement income plan, your Social Security statement can provide important information about how much you may receive. The statement shows estimates for retirement and other benefits based on your earnings history. Reviewing it can also help you check whether your income has been recorded correctly. From there, you can accurately set investing and savings goals around the income Social Security may provide.

You can also consider reaching out to a financial advisor to discuss Social Security and evaluate how your retirement plan is coming along.

What Is a Social Security Statement?

Social Security provides workers with an individualized record showing past earnings as well as estimates of benefits that they or qualifying family members could receive under different circumstances. This statement is more so a retirement planning tool than a guarantee of eventual monthly benefits.

The estimate is based partly on your earnings record and assumptions about your future earnings. Because you haven’t earned that future income, your estimated benefit isn’t set in stone. If your earnings change late in life, your Social Security Statement could change as well.

How to Find Your Social Security Statement

The easiest way to view your current Social Security Statement is through a personal mySocialSecurity account. People who do not receive Social Security benefits and do not have an online account may also receive a statement by mail, depending on their age and mailing eligibility.

To retrieve the statement electronically, set up access to Social Security’s online system and complete the required identity verification through Login.gov or ID.me. You must be at least 18 and have a Social Security number to create a personal mySocialSecurity account. The account is intended for your own use rather than for accessing another person’s Social Security information.

After completing the identity verification and sign-in process, you can access your Social Security Statement and other available services online.

Aside from that, you can also use your online account access to:

Verify your earnings record
View Social Security and Medicare taxes paid
Request a replacement Social Security card when eligible

Once you begin receiving benefits from Social Security, you can use your mySocialSecurity account to review payments. You can also make updates to personal information and request a replacement Medicare card.

How to Read Your Social Security Statement

Your Social Security statement lays out projected retirement payments at several possible starting ages. It also includes separate estimates for disability coverage and benefits that could be available to eligible family members or survivors.

The retirement portion lets you see how the estimated monthly payment changes for each potential starting age between 62 and 70. This makes it possible to compare an early start with waiting until your full retirement age or beyond. For workers born between 1943 and 1959, full retirement age gradually increases from 66 to 67. Those born in 1960 or later reach it at 67.

Whereas taking Social Security at age 62 reduces the benefit amount you’re eligible to receive, waiting until age 70 can increase your benefit amount. If you’re wondering how much you’d be able to get from Social Security after early or late retirement, the information your statement provides can help.

Paying Into Social Security

Here's how you read your social security statement.

Beneath the estimated benefits numbers is a section detailing how those numbers were calculated. Your work history determines whether you have accumulated enough Social Security credits for retirement eligibility. You can earn a maximum of four credits to your record in a single year. For 2026, $1,890 of covered earnings produces one credit, and $7,560 produces the year’s maximum of four. A worker typically needs 40 credits to qualify for retirement benefits. While credits determine whether you qualify, your covered earnings determine the size of your payment.

The amounts on your statement are projections, which means future changes to Social Security could affect them. The 2026 trustees’ projections indicate that reserves for the combined Social Security trust funds could be exhausted in 2034. At that point, incoming revenue is projected to cover about 83% of scheduled payments if lawmakers make no changes. Looking only at the fund that pays retirement and survivor benefits, reserves are projected to run out in 2032, with continuing revenue covering about 78% of scheduled payments.

The third page of your Social Security Statement includes your earnings record. This shows you each year you’ve worked, your taxed Social Security earnings for each year and your taxed Medicare earnings for each year.

Below that, you’ll see estimated totals for the amount of Social Security and Medicare tax paid over your lifetime by both you and your employers. You’ll also find an explanation of how your tax rate for Social Security and Medicare is calculated.

Hints and Tips for Reading Your Social Security Statement

Your Social Security statement also directs you to information that can help with retirement planning. This includes details on Medicare enrollment and the rules that apply when you claim Social Security at different ages.

For example, your statement may explain how to avoid a penalty when applying for Medicare benefits at age 65. It may also tell you what to consider if you’re thinking of taking Social Security benefits before or after your full retirement age. Specifically, you can see a comparison of how much your benefits would increase or decrease, depending on when you take them.

You can also get advice on how working in retirement may affect your Social Security payout if you’re also receiving benefits. For younger workers, the tips tend to focus on why understanding and planning for Social Security benefits sooner, rather than later, is important.

Looking for Errors on Your Social Security Statement

When reviewing your statement, it’s important to check the annual income history against your own records. In particular, take a look at years when you changed employers or had self-employment income. Missing or inaccurate earnings can affect both your eligibility record and the calculation used for future payments.

You can report a discrepancy through your personal mySocialSecurity account when there is online correction option available for your situation. Another option is to call the Social Security Administration at 1-800-772-1213. Keep supporting documents from the affected year, such as a W-2, pay stubs or a filed tax return. That way, you can substantiate the amount you earned.

How to Use Your Statement to Plan Your Retirement Income

The benefit estimates on your statement can help you calculate how much of your retirement spending may need to come from savings. Start with an estimated monthly retirement budget. Then, subtract the Social Security benefit shown for the claiming age you are considering. The remaining amount gives you a starting point for estimating how much income your 401(k), IRA, pension and other assets may need to provide.

For example, assume you expect to spend $6,000 per month in retirement. Your statement estimates a $3,000 monthly Social Security benefit at your planned claiming age. In that case, you would need about $3,000 per month, or $36,000 per year, from other income sources. (Keep in mind, that’s before accounting for taxes, inflation and any changes in expenses.) You can then compare that annual need with your current retirement savings and expected contributions.

It can also be useful to run the calculation using several claiming ages. A larger Social Security benefit that results from delaying benefits could reduce the amount your portfolio needs to provide later. However, you would need another way to cover expenses during the years before Social Security begins. Comparing both periods can help you evaluate the financial effect of different claiming dates rather than focusing only on the largest monthly benefit.

Bottom Line

Your Social Security Statement can help you estimate future benefits, check your earnings history and compare potential claiming ages. Using those figures alongside your expected retirement expenses can show how much income may need to come from savings and other sources. Reviewing the statement periodically also gives you an opportunity to identify earnings errors before they affect a future benefit calculation.

Social Security Planning Tips

You may want to meet with your financial advisor at least once a year to discuss Social Security and evaluate how your retirement plan is coming along. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Social Security benefits should be part of a broader retirement picture that also includes income from your employer’s 401(k), a traditional or Roth IRA as well as taxable brokerage accounts and savings. Diversifying your income streams can keep you from having to rely too heavily on Social Security or any other single source of income in retirement.