Retirement Social Security

Here’s the Typical Social Security Benefit at Ages 62, 67, and 70

Average Social Security benefits vary based on when you choose to start collecting.

By David Maina

Edited by Kristy DeSmit

Updated Jan. 19, 2026

Turning 62, 67, or 70 may feel like routine birthday milestones, but for Social Security, they mark key decision points for when you can start benefits.

That timing choice permanently sets the size of your monthly check. A few years in either direction can mean hundreds of dollars more or less every month for the rest of your life.

Here's what the typical Social Security benefit looks like at 62, 67, and 70, and how those differences matter if you want to maximize your senior benefits.

Learn 7 ways to generate income with a $1,000,000 portfolio

Learn the strategies wealthy retirees use to fund their retirement with $1,000,000 — and how you can, too — with this new guide: The Definitive Guide to Retirement Income from Fisher Investments.

Fisher Investments has helped tens of thousands of investors retire comfortably since 1979. With over $332 billion under management, they provide tailored money management to help achieve long-term goals.

Get your guide here

Average benefit at age 62 in 2026

Age 62 is the earliest point at which you can claim Social Security retirement benefits. Because of that early start, the monthly check is smaller than at later claiming ages.

According to the Social Security Administration (SSA), the average 62-year-old retired worker was receiving about $1,377 per month as of June 2025. If you apply the 2026 cost-of-living adjustment (COLA) of 2.8%, that works out to roughly $1,416 per month in 2026, or about $17,000 a year.

The reason that number is lower is built into the system. For people born in 1960 or later, claiming at 62 means a 30% reduction from what they would receive at full retirement age. In practical terms, someone who starts at 62 is locking in about 70% of their full benefit for life.

Who really has the cheapest auto insurance in your area? Check your zip code here.

Average benefit at age 67 in 2026

For most current retirees, 67 is full retirement age. That is the point when Social Security pays your full, unreduced benefit.

For age 67, SSA's June 2025 data shows an average monthly benefit of about $1,963. After applying the 2.8% COLA for 2026, that comes to roughly $2,018 per month, or about $24,200 per year.

The jump from 62 to 67 is meaningful because the early-claim penalty disappears. At full retirement age, you receive 100% of your calculated benefit, which makes this the baseline Social Security uses to compare all other claiming ages.

Average benefit at age 70 in 2026

Age 70 is the latest age to claim Social Security. After this point, no additional delayed retirement credits are earned, which makes it the final opportunity to increase your monthly benefit.

For age 70, the SSA's June 2025 average is about $2,188 per month. With the 2.8% COLA applied for 2026, that rises to roughly $2,249 per month, or about $27,000 a year.

Claiming at 70 produces a benefit that is about 24% higher than the average at age 67, thanks to delayed retirement credits earned between full retirement age and 70. For retirees who can afford to wait, this approach typically results in the largest possible monthly check.

Get a protection plan on all your appliances

Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more.

Whether or not you’re a new homeowner, a home warranty from Choice Home Warranty could pick up the slack where insurance falls short and protect you against surprise expenses. If a covered system in your home breaks, you can call their hotline 24/7 to get it repaired.

For a limited time, you can get your first month free with a Single Payment home warranty plan.

Get a free quote

What causes your benefit to be higher or lower

The dollar figures above are national averages, which means your own check can look quite different. That difference starts with how Social Security calculates your benefit.

Your monthly amount is based on your highest 35 years of earnings, adjusted for inflation. Those wages are averaged to produce your full retirement age benefit. If you earned more than average over your career, your benefit will likely be higher. If you earned less, it will be lower.

If you have fewer than 35 years of earnings, Social Security fills in the missing years with zeros. A shorter work record pulls down the average, while a long, steady career at higher pay pushes it up.

Also, note that if you claim before full retirement age and keep working, the retirement earnings test may temporarily reduce your check. In 2026, you can earn up to $24,480 before benefits are withheld. Above that, Social Security holds back $1 for every $2 earned until you reach full retirement age, when those amounts are credited back.

How to estimate your own Social Security benefit

To get a clear estimate of your own Social Security benefit, start with your actual earnings record.

The simplest way is to create a free my Social Security account on SSA.gov. That gives you access to your Social Security Statement, which shows your past earnings and projected benefits at different claiming ages. From there, you can use SSA's retirement calculators to compare what you would receive at 62, at full retirement age, and at 70.

What to consider before you choose a claiming age

There is no single right age to claim Social Security because the best choice depends on your situation. Your health, income needs, work plans, and how long you expect to rely on those checks all play a role.

For instance, if you need income right away or face health issues, claiming at 62 may be the practical move, even though it means a smaller monthly benefit. If you are healthy and can cover your expenses without Social Security for a few more years, waiting until full retirement age or later can lead to a higher and more reliable income over time.

Family considerations matter too. Higher earners often boost future survivor benefits by delaying, while lower earners may claim earlier to bring in spousal income.

In the end, both early and delayed claiming involve tradeoffs. The right choice comes down to your personal risks, resources, and priorities.

Retirement News: Almost 80% of Americans fear a retirement age increase — here’s the real reason why

Bottom line

The difference between claiming early and waiting can stretch across decades, so it deserves more than a quick guess.

Start by looking at your own estimates from Social Security and think about how long you may depend on those checks. Then compare those numbers with your savings and monthly spending. That bigger picture shows how much room you really have and what tradeoffs each option creates.

When everything is lined up, it becomes much easier to choose a retirement age that helps you retire comfortably.

More from FinanceBuzz: