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Description: People selectively help others based on perceptions of their merit or need. Here, we develop a neurocomputational account of how these social perceptions translate into social choice. Using a novel fMRI social perception task, we show that both merit and need perceptions recruited the brain's social inference network. A behavioral computational model identified two non-exclusive mechanisms underlying variance in social perceptions: a consistent tendency to perceive others as meritorious/needy (bias) and a propensity to sample and integrate normative evidence distinguishing high from low merit/need in other people (sensitivity). Variance in people’s merit (but not need) bias and sensitivity independently predicted distinct aspects of altruism in a social choice task completed months later. An individual's merit bias predicted context-independent variance in people’s overall other-regard during altruistic choice, biasing people towards prosocial actions. An individual’s merit sensitivity predicted context-sensitive discrimination in generosity towards high and low merit recipients by influencing other-regard and self-regard during altruistic decision-making. This context-sensitive perception-action link was associated with activation in the right temporoparietal junction. Together, these findings point towards stable, biologically based individual differences in perceptual processes related to abstract social concepts like merit, and suggest that these differences may have important behavioral implications for an individual’s tendency toward favoritism or discrimination in social settings.