For many retirees, Social Security acts as a crucial supplement to their income. The amount you receive each month is significantly influenced by the age at which you decide to begin collecting benefits.
The Social Security Administration (SSA) determines your benefit amount based on an average of your earnings over your highest 35 years of work. These figures are adjusted for inflation and processed through a specific formula to arrive at your monthly checks.
Average Monthly Benefits from Age 62 to 80
As of December 2025, here’s a look at the average monthly benefits for retired workers broken down by age.
| Age | Overall | Men | Women |
|---|---|---|---|
| 62 | $1,424.40 | $1,572.83 | $1,285.50 |
| 63 | $1,435.81 | $1,580.81 | $1,300.20 |
| 64 | $1,478.00 | $1,624.93 | $1,342.07 |
| 65 | $1,607.27 | $1,772.00 | $1,457.40 |
| 66 | $1,807.28 | $1,998.75 | $1,629.09 |
| 67 | $2,016.48 | $2,234.41 | $1,801.82 |
| 68 | $2,052.64 | $2,272.40 | $1,836.58 |
| 69 | $2,096.95 | $2,321.96 | $1,876.96 |
| 70 | $2,274.68 | $2,529.62 | $2,024.08 |
| 71 | $2,247.76 | $2,494.57 | $2,006.83 |
| 72 | $2,205.21 | $2,432.49 | $1,981.87 |
| 73 | $2,207.96 | $2,437.40 | $1,983.67 |
| 74 | $2,178.87 | $2,401.64 | $1,962.42 |
| 75 | $2,144.88 | $2,358.96 | $1,937.42 |
| 76 | $2,157.21 | $2,373.40 | $1,949.26 |
| 77 | $2,170.80 | $2,391.89 | $1,959.06 |
| 78 | $2,140.16 | $2,352.82 | $1,936.04 |
| 79 | $2,155.77 | $2,374.04 | $1,947.29 |
| 80 | $2,106.29 | $2,309.85 | $1,912.67 |
Understanding the Benefit Trends
The statistics show a notable 59.7% rise in average benefits between ages 62 and 70. Specifically, by age 70, the average monthly benefit has increased by $850.28 compared to age 62—translating to an annual difference of about $10,203.36. This is largely due to the significant reduction in benefits when claiming at 62—by as much as 30%—contrasted with earning credits that add approximately 8% per year when you wait until 70.
However, the averages dip a bit for retirees in their late 70s. This doesn’t mean benefits are being cut; rather, it indicates a shift in the demographics included in the data—this group tends to have a larger number of early claimants, who receive lower benefits.
It’s worth noting that women generally represent a bigger percentage of the oldest demographics, which is linked to their longer life expectancy. For instance, at age 70, the average monthly benefit is $2,529.62 for men versus $2,024.08 for women, creating a disparity of about $505.54. This gap often reflects underlying issues like the gender pay gap and time spent in caregiving roles, which can lead to less time earning income.
Still, at the peak average for age 70, the annual benefit stands at $27,296.16—far from what many seniors need. Current estimates indicate that the average senior household spends around $61,432 annually, leaving a gap of roughly $34,135.84. Social Security is intended to replace about 40% of what pre-retirement income was.
It’s anticipated that a 3.6% cost-of-living adjustment (COLA) will be implemented in 2027, adding around $82 to the monthly benefit at age 70.
To get the most relevant information for your situation, focus on the row that aligns with your intended claiming age rather than just the peak numbers.
Covering the Shortfall Beyond Social Security
No matter when you start claiming, it’s essential to have other income sources to help manage retirement expenses. The earlier you plan, the better prepared you will be for retirement.
Many individuals find themselves augmenting their Social Security benefits with personal savings. If you have a 401(k) plan that includes matching contributions from your employer, that might be a sensible starting point. Alternatively, setting up an IRA could be a good option if you’re saving independently.
Some employees might also qualify for a pension, though these are becoming less common. If you have access to one, it can function similarly to Social Security, providing a regular benefit.
Others opt for part-time work during retirement to supplement their income. It’s also feasible to rely on a combination of the avenues mentioned above. Consider your options carefully and think about what strategy works best for you, then start crafting a solid plan.
