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The annual Social Security Statement, as you know, includes the amount for which you are expected to be eligible "if you stop working" at 62, etc.

I am curious as to how accurate that figure has proved to be for those who elected to start drawing SS at age 62?

My wife and I both retired five years ago, and we still have a few years to go before we reach 62. I know the formula for calculating SS benefits is a bit complex, but I don't see how the above referenced figure on the statement (for age 62) could be accurate, as it continues to go up with each year's statement, even though each year since we retired adds another year of $0 annual income to the formula. I don't understand how the estimated benefit is going up while the average earnings has been going down for five years, and will continue to decline until we reach 62.

Any thoughts or speculation?
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