Here’s How Much Your Peers Get in Social Security

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Seniors receiving Social Security payment
Dmytro Zinkevych / Shutterstock.com

How much you receive in Social Security retirement benefits depends on multiple factors, which include when you open your claim.

Generally, people as young as age 62 can begin receiving benefits. However, claiming benefits early could mean forfeiting as much as 30% of your full benefit amount.

On the other hand, for every year past your full retirement age that you wait to claim benefits, your monthly payment will get an 8% boost, up to age 70.

To see how much payments vary by age, we looked at the 2020 Annual Statistical Supplement from the Social Security Administration. It reports data from December 2019, which is the most recent information of this type available.

According to the supplement, average payments to Social Security beneficiaries rise steadily for those in their 60s and early 70s before leveling off. Average payments to those in their 80s are slightly lower, which could reflect the fact that average incomes were lower when these beneficiaries retired.

At every age, retired men receive more than retired women.

Keep reading to see the average monthly benefit for retirees at every age from 62 to 94.

Age 62

Older Asian American couple
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Average Social Security benefit among:

  • All retirees this age: $1,118.94 per month
  • Retired men this age: $1,251.80
  • Retired women this age: $999.84

Age 62 isn’t just the earliest age at which most people can start receiving benefits; it also is the age at which the largest share of people actually do so, as we detail in “This Is When the Most People Start Taking Social Security.”

Age 63

eyewear
goodluz / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,158.43 per month
  • Retired men this age: $1,292.30
  • Retired women this age: $1,037.10

Age 63 is the third-most common age at which retirees start claiming Social Security.

Age 64

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Average Social Security benefit among:

  • All retirees this age: $1,234.07 per month
  • Retired men this age: $1,378.44
  • Retired women this age: $1,102.73

Age 65

retirement party
Ulf Wittrock / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,291.78 per month
  • Retired men this age: $1,441.37
  • Retired women this age: $1,157.64

Age 65 is a coveted retirement milestone for many Americans, as it is the age at which they become eligible for Medicare, the federal health insurance program for seniors and people with certain disabilities or medical conditions.

Age 66

senior
Robert Kneschke / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,457.69 per month
  • Retired men this age: $1,628.68
  • Retired women this age: $1,281.59

Age 66 is the second-most common age at which people claim Social Security retirement benefits. It’s also what’s known as the “full retirement age” for people born from 1943 through 1959.

Age 67

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Average Social Security benefit among:

  • All retirees this age: $1,499.91 per month
  • Retired men this age: $1,674.18
  • Retired women this age: $1,318.01

Age 67 is the full retirement age for people born in 1960 or later.

Age 68

Senior bank customer at an ATM
Andrey Arkusha / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,507.30 per month
  • Retired men this age: $1,681.72
  • Retired women this age: $1,324.92

Age 69

seniors dining
Monkey Business Images / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,502.99 per month
  • Retired men this age: $1,674.53
  • Retired women this age: $1,323.24

Age 70

70th birthday cake
Moha El-Jaw / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,608.60 per month
  • Retired men this age: $1,791.73
  • Retired women this age: $1,419.32

Age 71

Rocketclips, Inc. / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,626.88 per month
  • Retired men this age: $1,814.88
  • Retired women this age: $1,433.63

Age 72

Senior couple in front of their home
Andy Dean Photography / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,602.08 per month
  • Retired men this age: $1,786.96
  • Retired women this age: $1,410.98

Age 73

Dragon Images / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,613.12 per month
  • Retired men this age: $1,803.25
  • Retired women this age: $1,417.05

Age 74

sutulastock / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,573.52 per month
  • Retired men this age: $1,755.19
  • Retired women this age: $1,385.63

Age 75

Senior man lying in a hospital bed
Monkey Business Images / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,566.43 per month
  • Retired men this age: $1,748.52
  • Retired women this age: $1,379.97

Age 76

An Asian senior man
imtmphoto / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,563.59 per month
  • Retired men this age: $1,746.03
  • Retired women this age: $1,377.69

Age 77

Sad senior woman drinking coffee
DGLimages / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,565.27 per month
  • Retired men this age: $1,749.79
  • Retired women this age: $1,377.59

Age 78

Kaspars Grinvalds / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,566.00 per month
  • Retired men this age: $1,752.23
  • Retired women this age: $1,378.58

Age 79

szefei / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,548.39 per month
  • Retired men this age: $1,728.31
  • Retired women this age: $1,368.25

Age 80

Alexander Raths / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,517.34 per month
  • Retired men this age: $1,684.87
  • Retired women this age: $1,351.09

Age 81

Aliaksandra Post / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,501.26 per month
  • Retired men this age: $1,662.70
  • Retired women this age: $1,342.28

Age 82

Flashon Studio / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,476.33 per month
  • Retired men this age: $1,625.45
  • Retired women this age: $1,330.50

Age 83

Happy retiree couple
Canon Boy / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,431.05 per month
  • Retired men this age: $1,556.11
  • Retired women this age: $1,310.31

Age 84

home health care
DGLimages / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,409.82 per month
  • Retired men this age: $1,519.92
  • Retired women this age: $1,304.80

Age 85

An older man talks to his doctor remotely on his laptop
fizkes / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,407.51 per month
  • Retired men this age: $1,509.30
  • Retired women this age: $1,312.06

Age 86

LightField Studios / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,413.50 per month
  • Retired men this age: $1,513.76
  • Retired women this age: $1,321.66

Age 87

Portrait of the elderly woman
Galushko Sergey / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,434.32 per month
  • Retired men this age: $1,540.68
  • Retired women this age: $1,339.98

Age 88

Nurse with elderly patient
Alexander Raths / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,423.92 per month
  • Retired men this age: $1,518.17
  • Retired women this age: $1,342.07

Age 89

ARTFULLY PHOTOGRAPHER / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,422.63 per month
  • Retired men this age: $1,510.81
  • Retired women this age: $1,348.44

Ages 90-94

Senior woman
De Visu / Shutterstock.com

Average Social Security benefit among:

  • All retirees this age: $1,433.56 per month
  • Retired men this age: $1,519.76
  • Retired women this age: $1,371.66

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