Social Security PIA (Primary Insurance Amount)
The monthly Social Security benefit you'd receive if you claim exactly at your full retirement age.
PIA is calculated from your highest 35 years of earnings (adjusted for wage growth) using a formula with fixed "bend points" that weight lower earnings more heavily than higher ones. Claiming before full retirement age permanently reduces the benefit below the PIA; claiming after it (up to age 70) permanently increases it.
Worked Example
Someone with a $2,200/month PIA who claims at 62 instead of their full retirement age might receive closer to $1,540/month for life — a permanent reduction for claiming early, not a temporary one.
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