SSFactor returns the Social Security reduction factor for early retirement, or the late increase factor for delayed retirement.

·        Early retirement: a benefit is reduced 5/9 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month.

·        Delayed retirement: credits are applied according to the following table:

Note: Persons born on January 1 of any year should refer to the credit percentage for the previous year

More information can be found at the Social Security web site, and here, and here.

Syntax

SSFactor (Birthdate, CommencementAge)