Here's the average Social Security benefit at ages 62 to 70

Social Security is often the largest source of income for retired workers, so it makes sense to do everything in your power to maximize your benefit. Yet many people shortchange themselves by claiming benefits as early as possible (age 62), in which case they get the smallest possible payout based on their work history.

Some of those people may not even understand the consequences of their decision. Four in 10 adults think that, even if they claim Social Security early, benefits automatically increase at full retirement age, according to Nationwide Retirement Institute's 2025 survey. But that's false. If you claim early, the benefit reduction is permanent.

Here's exactly how much claim age impacts Social Security.

Here's the average Social Security benefit for retired workers at different ages

The Social Security Administration publishes anonymized benefit data to promote transparency and improve public understanding. The information in the table comes from a biannual report last updated in December 2025. It shows the average monthly Social Security benefit for retired workers aged 62 to 70.

Data source: Social Security Administration. Note: Payments have been rounded to the nearest dollar.

As shown, the average 70-year-old retiree receives a much larger Social Security benefit than the average 62-year-old retiree. That trend can be explained by differences in claim age. Workers are entitled to Social Security at 62, but the payout is the smallest at that age. Workers are not entitled to the largest possible payout (based on their personal work history) until 70.

Here's how your Social Security benefit is calculated

The Social Security Administration considers two major variables when calculating benefits for retirees: work history and claiming age. This two-step process explains exactly how those variables influence the final payout:

• Step 1: A formula is applied to inflation-adjusted earnings from the 35 highest-paid years of a worker's career to determine their primary insurance amount (PIA). The PIA is the benefit a worker will get if they start Social Security at full retirement age (FRA), which is 67 for anyone born in 1960 or later.
• Step 2: The PIA is adjusted for early or delayed retirement. Retirees who claim Social Security before FRA receive a smaller benefit, meaning they receive less than 100% of their PIA. Workers who start Social Security after FRA receive a larger benefit, meaning they receive more than 100% of their PIA.

There are two important conditions. First, eligibility for retirement benefits begins at age 62, so no one can claim earlier. Second, delayed retirement credits stop accumulating at age 70, so no one should ever claim later.

The table explains the relationship between birth year and FRA. It shows the benefit (as a percentage of PIA) retired workers in each age cohort will get if they claim Social Security at ages 62 and 70. In other words, the table shows the smallest and largest possible payouts for age groups.

Data source: The Social Security Administration.

The table shows that Social Security is heavily dependent on claim age. Indeed, retirees born in 1960 or later can increase their benefit by 77% simply by claiming Social Security at age 70 rather than age 62.

An example: The average retired worker had a PIA of $2,116 in 2024. Assuming a birth year of 1960 or later, that person would receive $1,481 per month if they started Social Security at age 62 (i.e., 70% multiplied by $2,116). But the same person would receive $2,624 per month if they started Social Security at age 70 (i.e., 124% multiplied by $2,116).

The exact dollar amounts will vary between people due to differences in lifetime earnings, but the percent increase will remain constant. In this case, $2,624 is 77% larger than $1,481.

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