Once one progresses towards the retiring age, one keeps on thinking about the ways their Social Security settlements are calculated. The amount they would get after their retirements is a very important issue for them during that age.

There are a number of ways that allow one find out these things. Everyone who is above 25 years of age receives a statement about these benefits every three months prior their birthdays every year. In case, they do not receive them, they can get in contact with the authorities at the Social Security and ask for the concerned form. You can also download the form from the SSA's official website.

As far as the calculation of such benefits of Social Security is concerned, there are many ways that decide the total amount of money one gets while he or she retires. They are calculated on the basis of the lifetime earnings of people. The actual earnings of these people are ‘indexed’ or rather adjusted for changes with their average wages right from the beginning year. Then after this, the average indexed earnings per month are calculated all during those 35 years where one earned their most. A formula is then applied to all such earnings and then comes out the basic benefit of people known as the ‘primary insurance amount’ or PIA in general, which that they receive once they retire.

PIA also affects other benefits received by a person like the spouse benefits. Thus it is quite essential that one understands about the fact that their PIA is not only about the amount of money that they receive after their retirement.

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