As you plan for retirement, it’s helpful to estimate your potential income sources, including Social Security. Your benefit amount will depend on several factors, including your earnings history, how long you worked and the age at which you begin claiming benefits. Reviewing average payouts at different claiming ages can give you a useful benchmark for deciding when to apply for Social Security.
To better understand how much you may receive from Social Security at different ages, consider these factors:
— How early you can collect benefits
— The average Social Security benefit by age
— How your benefit changes if you claim early or late
— How Social Security benefits are calculated
— How spousal and survivor benefits work
— What COLA means and how it works in 2026
[READ: How Much You Will Get From Social Security.]
How Early You Can Collect Benefits
The age at which you claim Social Security plays a major role in determining the size of your monthly benefit. While you can begin collecting benefits as early as age 62, claiming before your full retirement age permanently reduces your payments. For example, workers with a full retirement age of 66 who retire at 62 receive 25% less, while those with a full retirement age of 67 see their benefits reduced by 30%.
“Starting at 62 makes sense for those with chronic health conditions that may lead to a shortened life expectancy,” says Bob Wood, finance professor at the University of South Alabama’s Mitchell College of Business.
To receive your full benefit, you’ll need to wait until your full retirement age, which is based on your birth year. For workers born in 1960 or later, full retirement age is 67. If you opt to delay claiming benefits past your full retirement age, they will increase by 8% each year until you turn 70. “Few if any fixed investment vehicles are guaranteed to increase 8% per year,” Wood says.
The Average Social Security Benefit by Age
The Social Security Administration releases data to show how much beneficiaries receive every year. The following table shows the average benefit for individuals at different ages according to a SSA report released at the end of 2025. It notes the age of the beneficiary and the average benefit for those who were not affected by early retirement deductions or delayed credits.
| Age | Men | Women |
| 66 | $1,958 | $1,580 |
| 67 | $2,142 | $1,719 |
| 68 | $2,197 | $1,765 |
| 69 | $2,267 | $1,816 |
| 70 | $2,389 | $1,909 |
| 71 | $2,338 | $1,891 |
| 72 | $2,342 | $1,893 |
| 73 | $2,308 | $1,871 |
| 74 | $2,265 | $1,846 |
| 75 | $2,277 | $1,856 |
| 76 | $2,294 | $1,864 |
| 77 | $2,265 | $1,841 |
| 78 | $2,277 | $1,851 |
| 79 | $2,215 | $1,816 |
| 80 | $2,206 | $1,815 |
| 81 | $2,202 | $1,818 |
| 82 | $2,206 | $1,821 |
| 83 | $2,208 | $1,822 |
| 84 | $2,176 | $1,809 |
| 85 | $2,119 | $1,788 |
| 86 | $1,909 | $1,788 |
| 87 | $2,044 | $1,763 |
| 88 | $1,957 | $1,738 |
| 89 | $1,910 | $1,733 |
| 90-94 | $1,911 | $1,751 |
The following table lists the average benefit by age for men and women who qualified for delayed credits. It is based on 2025 data from the Social Security Administration.
| Age | Men | Women |
| 66 | $2,900 | $1,966 |
| 67 | $2,756 | $1,906 |
| 68 | $2,810 | $1,935 |
| 69 | $2,936 | $2,005 |
| 70 | $3,333 | $2,296 |
| 71 | $3,302 | $2,283 |
| 72 | $3,320 | $2,303 |
| 73 | $3,284 | $2,296 |
| 74 | $3,251 | $2,230 |
| 75 | $3,309 | $2,216 |
| 76 | $3,332 | $2,120 |
| 77 | $3,249 | $2,080 |
| 78 | $3,256 | $2,041 |
| 79 | $3,109 | $1,968 |
| 80 | $3,055 | $1,921 |
| 81 | $3,023 | $1,836 |
| 82 | $2,908 | $1,771 |
| 83 | $2,808 | $1,711 |
| 84 | $2,629 | $1,656 |
| 85 | $2,470 | $1,604 |
| 86 | $2,341 | $1,569 |
| 87 | $2,195 | $1,699 |
| 88 | $2,015 | $1,706 |
| 89 | $1,970 | $1,723 |
| 90 or older | $2,490 | $1,718 |
Since benefits increase if you choose to delay claiming Social Security, there may be value in waiting. You might tap retirement accounts in the meantime or continue earning income. “By waiting up to age 70, retirees can lock in the biggest benefit checks available based on their work records,” says Krisstin Petersmarck, president and founder of New Horizon Retirement Solutions in Bloomfield Hills, Michigan. “If longevity is a concern, having the larger Social Security benefit for your lifetime is a major plus.”
How Your Benefit Changes If You Claim Early or Late
The age that you claim benefits can make a difference in your monthly check. The following table uses SSA’s estimated 2026 average retired-worker benefit of $2,071 as the full retirement age baseline.
| Claiming Age | Approximate Change vs. Full Benefit | Estimated Monthly Benefit |
|---|---|---|
| 62 | 30% reduction | $1,450 |
| 63 | 25% reduction | $1,553 |
| 64 | 20% reduction | $1,657 |
| 65 | 13.3% reduction | $1,795 |
| 66 | 6.7% reduction | $1,933 |
| 67 | Full benefit | $2,071 |
| 68 | 8% increase | $2,237 |
| 69 | 16% increase | $2,402 |
| 70 | 24% increase | $2,568 |
How Social Security Benefits Are Calculated
The amount you receive in Social Security benefits is determined by a formula that uses your “average indexed monthly earnings,” according to the Social Security Administration. The calculation reflects your highest 35 years of earnings that were subject to Social Security taxes, adjusted for changes in average wages over time. If you worked more than 35 years, the SSA uses your 35 highest-earning years when calculating your benefit. The amount you earned during these working years will be added then divided by the number of months that you worked. The answer, which reflects your average wages, is rounded down to the next lower dollar amount. This figure is then used to determine the benefit you will receive.
Before you retire, you can estimate your benefit. “Understand your earnings record and review for accuracy,” says Christopher Stroup, founder and president of Silicon Beach Financial in Santa Monica, California. “Coupled with your age, your earnings record is one of the main factors that determines how large you can expect your Social Security benefit to be.”
Try to maximize the number of years you pay into Social Security. “If you plan to retire early without reaching the 35-year mark, you could be inadvertently dampening your Social Security benefit over the rest of your life,” Stroup says.
Spousal and Survivor Benefits by Age
You might be able to receive Social Security benefits based on the work record of your spouse. A surviving spouse may qualify for survivor benefits after the worker dies.
A spousal benefit can be worth up to 50% of the worker’s full retirement age benefit if the spouse claims at full retirement age. If the spouse claims earlier, the amount is reduced. SSA data shows spouses of retired workers received an average monthly benefit of $986 as of April 2026.
A surviving spouse may be able to claim as early as age 60, but claiming before full retirement age reduces the benefit. SSA says surviving spouses can receive up to 100% of the deceased worker’s benefit at full retirement age.
According to SSA data, nondisabled widow(er)s received an average monthly benefit of $1,928 as of April 2026.
[READ: How to Maximize Social Security With Spousal Benefits.]
What COLA Means and How It Works in 2026
Although you’ll likely be living on a fixed income during retirement, costs tend to rise over time due to inflation. For this reason, since 1975, the Social Security Administration has adjusted the amounts sent to beneficiaries every year. These modifications are based on increases in the cost of living and are known as cost-of-living adjustments, or COLA.
The COLA is usually announced every October for the following year. For 2026, Social Security and Supplemental Security Income benefits increased by 2.8%. This is a reflection of the consumer price index, which tracks changes in costs for everyday items such as gas, food and household items.
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Average Social Security Benefit by Age originally appeared on usnews.com
Update 06/04/26: This story was published at an earlier date and has been updated with new information.
