How does the social security benefit is calculated?
Social security is calculated based on your income during the 35 years period in which you earned the most. Your earnings will be indexed to account for changes in the average wages since the year in which you earned the money. Then SSA(Social security administration) will use a predefined formula to calculate your basic benefit, or “Primary Insurance Amount”(PIA). If you don’t have earnings for 35 years, some years with no earnings will be used to determine the average amount.