What you receive depends on when you start taking Social Security

The amount you receive from Social Security changes based on your age when you first claim it. If you claim at 62, you get a smaller monthly payment than if you wait until 67 or 70. The longer you wait, the larger your monthly check becomes. This is true whether you are claiming retirement benefits, survivor benefits, or disability benefits that convert to retirement payments at full retirement age.

The Social Security Administration (SSA) publishes average payment amounts each year, and those figures shift slightly based on cost-of-living adjustments and the mix of people claiming at different ages. The most recent averages show the range of what people actually receive, but your own payment will depend on your specific work history and the age you choose to claim.

Key Takeaways

  • Claiming Social Security at 62 gives you a smaller monthly payment than waiting until your full retirement age (66 or 67 for most people born after 1954).
  • Waiting until age 70 increases your monthly payment by roughly 24 to 32 percent compared to claiming at full retirement age, depending on your birth year.
  • The SSA updates average payment amounts each year in October or November based on cost-of-living adjustments and current claimant data.
  • Your own payment amount depends on your lifetime earnings record, not just your age — two people claiming at the same age may receive different amounts.
  • You can view your personal earnings record and estimated payment amounts by creating an account at ssa.gov.

How claiming age reduces or increases your payment

Social Security uses a formula that permanently adjusts your payment based on how early or late you claim. If your full retirement age is 67 and you claim at 62, your payment is reduced by about 30 percent. If you claim at 70, your payment is increased by about 24 percent above the full retirement age amount.

These adjustments are permanent. Once you start receiving benefits at a certain age, the SSA does not recalculate your payment if you later decide you should have waited. The reduction or increase stays with you for life, and your spouse's survivor benefits are also affected by the age you claimed.

The exact percentage depends on your birth year. People born in 1943 or later have a full retirement age of 66 or 67. The SSA has published the specific reduction and increase percentages for each birth year on its website.

Recent average payment amounts by age group

The SSA does not publish a single "average" for each age — instead, it reports the average payment for all retired workers, all disabled workers, and all survivor beneficiaries combined. As of late 2024, the average monthly payment for a retired worker was approximately $1,900, though this includes people who claimed at all different ages.

People who claimed early (at 62) typically receive less per month than the overall average. People who claimed at full retirement age or later typically receive more. The actual range is wide: some people receive under $1,000 per month, while others receive over $3,500, depending on their work history and claiming age.

The SSA adjusts all payments each year for cost-of-living increases. In 2024, payments increased by 3.2 percent from 2023. The exact percentage changes year to year based on inflation.

Why your personal payment may differ from the average

The average payment is just a snapshot of what millions of people receive. Your own payment depends on how much you earned during your working years, how many years you worked, and the age you claim benefits. Someone who worked 40 years at high wages will receive a much larger payment than someone who worked 20 years at lower wages, even if both claim at the same age.

The SSA calculates your payment using your 35 highest-earning years. If you worked fewer than 35 years, it counts zeros for the missing years, which lowers your average. If you took time out of the workforce for caregiving, education, or unemployment, those years count as zeros unless you have enough high-earning years to offset them.

Spousal benefits and survivor benefits also vary based on the primary earner's record and the age the spouse or survivor claims. A surviving spouse can receive as little as 75 percent of the worker's payment (if claiming at full retirement age) or as much as 100 percent (if claiming at full retirement age and the worker has already died).

Where to find your estimated payment amount

The SSA provides a personalized estimate through your Social Security account at ssa.gov. You will need to create an account using your Social Security number, email, and identity verification. Once logged in, you can view your earnings record and see estimated payments for different claiming ages — typically 62, full retirement age, and 70.

The estimate assumes you continue working at your current pace until you claim. If your earnings change significantly, the estimate will shift. You can update your information and recalculate as your situation changes.

If you do not have internet access or prefer to speak with someone, you can call the SSA at 1-800-772-1213 (TTY 1-800-325-0778) to request a benefit estimate by mail. The process takes about two weeks.

How cost-of-living adjustments affect payments over time

Every year, the SSA increases all Social Security payments by a percentage tied to inflation. This is called a cost-of-living adjustment (COLA). The adjustment is the same percentage for everyone, but because it is applied to your current payment amount, people receiving larger payments get larger dollar increases.

For example, if you receive $2,000 per month and the COLA is 3 percent, you receive an additional $60 per month. If someone else receives $1,000 per month, they receive an additional $30. The percentage is equal, but the dollar amount is not.

The SSA announces the COLA each October for the following year. Payments increase in January. The COLA has varied from zero (in 2010 and 2011) to over 8 percent (in 2023). There is no way to predict the future COLA, so estimates you see today may be higher or lower by the time you claim.

Frequently Asked Questions

Does the average payment include people who claimed early at 62?

Yes. The SSA's overall average includes everyone receiving retirement benefits, regardless of the age they claimed. This is why the average is lower than what someone claiming at 70 would receive. If you want to know what people at a specific age typically receive, you need to look at SSA research reports rather than the headline average.

If I claim at 62, will my payment ever increase to match what I would get at 70?

No. Your payment is permanently set based on the age you claim. Waiting longer after you claim does not increase your payment. The only exception is the annual cost-of-living adjustment, which applies to everyone equally.

Can I change my mind after I start receiving benefits?

You can withdraw your claim within 12 months of starting benefits, repay what you received, and claim again later at a higher rate. After 12 months, you cannot withdraw. Some people use this to test whether claiming early was the right choice, but it requires repaying the full amount you received.

Why is my estimated payment different from the average I see online?

Your personal record is unique. The average includes people with different work histories, different earnings levels, and different claiming ages. Your estimate reflects only your earnings history. If you earned significantly more or less than average, your payment will be higher or lower than the average.

When does the SSA update the average payment amounts?

The SSA updates average payment amounts once per year, typically in October or November, after the annual cost-of-living adjustment is announced. The new amounts take effect in January when payments increase.