Social Security if you were born in 1963
One year of eligibility already behind you, and with it your first cost-of-living increase.
Checked by Radif Partners · Editorial policy · How we calculate
People born in 1963 (January 2, 1963 to January 1, 1964) became eligible for retirement benefits in 2025, the year they turned 62. That single fact fixes two things. Their primary insurance amount is computed with the 2025 bend points, $1,226 and $7,391, on earnings indexed to the 2023 national average wage of 66,621.8. And their PIA received the 2.8% cost-of-living adjustment effective December 2025, payable from January 2026, whether or not they have filed: COLAs start with the year of eligibility, not with the first payment. In 2026 this cohort is 63, with a full retirement age of 67 reached in 2030 and delayed credits until 70, in 2033. A career at $55,000 in today's pay produced a PIA of $2,111.70 in 2025, now $2,170.80. Started at 63 that pays $1,628 a month; at 67, $2,170.
Your formula year and the COLAs stacked on it
PIA in 2026, all COLAs included
$2,214.80
| Formula year (turned 62) | 2022 |
| Bend points of that year | $1,024 and $6,172 |
| PIA in the formula year | $1,873.90 |
| COLAs 2022 to 2025 | +18.2% |
COLAs count from the year you turn 62, even if you have not claimed yet.
A COLA you received without claiming
Under the PIA rules the formula is applied once, in the year of eligibility, and the result is then raised by each cost-of-living adjustment. The SSA notice for 2026 set that adjustment at 2.8%, effective December 2025. Since 1963 births were eligible in 2025, it applies to their PIA. Nobody born in 1964 gets it: they are computed fresh under the 2026 formula. More on the increase on the COLA page.
1963 and 1964 side by side
Same careers in today's pay, two formula years. The 1963 column uses the 2025 bend points and the 2023 index and then adds 2.8%; the 1964 column uses the 2026 bend points and the 2024 index, with no COLA yet.
| Career pay | Born 1963: PIA 2025 | Born 1963: PIA 2026 | Born 1964: PIA 2026 | Gap |
|---|---|---|---|---|
| $30,000 | $1,474.90 | $1,516.10 | $1,545.50 | -$29.40 |
| $55,000 | $2,111.70 | $2,170.80 | $2,212.40 | -$41.60 |
| $80,000 | $2,748.50 | $2,825.40 | $2,879.00 | -$53.60 |
| $120,000 | $3,400.20 | $3,495.40 | $3,563.20 | -$67.80 |
| $180,000 | $4,019.80 | $4,132.30 | $4,215.70 | -$83.40 |
The wage index grew 4.8% in 2024, faster than the 2.8% COLA, which is why the younger cohort comes out slightly ahead on these steady careers. A real record with a different shape can tip the other way. The bend points page explains the mechanism.
Three ages ahead
At 63 in 2026, the remaining milestones are Medicare eligibility at 65 in 2028, full retirement age 67 in 2030 (20 CFR 404.409), and 70 in 2033, when the benefit tops out at 124.0% of the PIA. Survivor benefits for a 1963 birth share the same full age, 67. Anyone weighing an early start can compare the options on claiming at 62: for this cohort, each month waited between 63 and 64 adds 5/12 of 1% back to the check.
A job and a benefit at 63
Before full retirement age, the earnings test applies to every month of the year. With $24,480 as the 2026 limit, a person who starts at 63 and earns $45,000 sees $10,260 withheld, about 7 monthly payments on our example. At 67 the SSA adds those months back by recomputing the reduction, so the check rises from then on.