Retirement Social Security

This is Average Social Security Benefit at Age 62, 67, and 70

The age at which you claim Social Security can have a big impact on the size of your payout.

By Chris Lewis, CEPF , Edited by Laura Hohenstein

Updated Aug. 31, 2026

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Are you planning to retire in 2026? Before you do, check where you stand financially so you are confident you will have enough income to meet your daily needs.

For most retirees, Social Security makes up a big part of their monthly income. And the age at which you claim Social Security can have a significant impact on the size of your monthly benefit.

Find out more about the average Social Security benefit at three key ages: 62, 67, and 70.

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The average Social Security benefit at age 62

In 2026, the estimated Social Security benefit for someone who retired at age 62 is around $1,424 a month.

As you will see, this is considerably lower than for those who wait until later to claim.

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Considerations of claiming benefits at age 62

Claiming benefits at age 62 will significantly and permanently reduce the size of your monthly benefit. In fact, you can expect your benefit to be 30% lower than if you waited until full retirement age to claim, according to the Social Security Administration (SSA).

For all people born in 1960 or later, 67 is full retirement age.

Some people simply have no choice and must claim at age 62. Perhaps they can no longer work due to health conditions or other circumstances. If they have a small nest egg and no other source of income, claiming at 62 might be the right move.

In addition, those who have health conditions that are likely to curtail their lifespan may want to consider claiming as early as 62.

The average Social Security benefit at age 67

The average monthly benefit for all retirees at age 67 is $2,279, according to the most recent data.

Those who claim at this age receive their full benefit amount, with no early claiming reductions or earned delayed credits.

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Considerations of claiming benefits at age 67

For most Americans, the Social Security full retirement age is 67. This is the age at which you are eligible for your full Social Security benefit.

If you wait until 67 to claim, you can expect your monthly benefit to be significantly higher than if you claim at an earlier age. You will enjoy this boosted benefit for the rest of your life.

For many people, it makes sense to claim at 67. Some people may have no choice except to begin Social Security payouts at an earlier age and accept a reduced monthly payout. This is especially true for those who don't have much in terms of savings or who have high expenses.

Some retirees also might prefer to wait until the ages of 68, 69, or 70 to claim, as their monthly payout will increase permanently for each year they delay between the ages of 67 and 70.

The average Social Security benefit at age 70

The average monthly benefit for all retirees at age 70 is $2,275, according to the most recent data.

However, those who actually wait until age 70 before claiming earn a delayed retirement credit that boosts their monthly payout to $3,031.

Considerations of claiming benefits at age 70

Waiting until the age of 70 to claim your benefit can permanently boost the size of your Social Security monthly payment.

For each year that you delay between your full retirement age and age 70, your benefit will jump by 8%, according to the SSA. This can pad your monthly income, helping you to feel more financially secure from month to month.

Of course, many retirees do not have the savings or other sources of income to allow them to wait that long to claim.

In addition, waiting until age 70 to claim increases the risk that you will not earn as much from your Social Security benefits as you should. Those who die before or shortly after the age of 70 will leave a lot of money on the table in unclaimed benefits.

It is important to note that there is no advantage to waiting until after the age of 70 to claim your senior benefits. The size of your monthly payout does not increase beyond age 70.

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At what age should you claim Social Security?

Many experts recommend waiting as long as possible to claim Social Security. This ensures that you will get the largest monthly benefit possible.

However, waiting until age 70 simply is not an option for millions of retirees who need the income earlier. Others may have health conditions or other circumstances that make claiming earlier a better decision. Understanding your benefit at different ages can help inform your decision.

In short, there is no one-size-fits-all answer here. Your individual circumstances will dictate the right time to claim.

Getting help with your Social Security decision

It can be difficult to decide when to claim Social Security. Many factors will impact the right time for you to claim, and some folks feel overwhelmed when trying to arrive at the right choice.

The SSA has an online calculator that can help you estimate the impact of claiming at various ages. Meeting with a financial advisor or other money professional might help you further clarify the right choice for you.

Bottom line

Choosing the right time to claim your Social Security benefits can help you stretch your retirement dollars further.

Making the right choice about when to claim can be challenging. But with a little research and perhaps the help of an expert, you should be able to arrive at the choice that makes the most sense for you and your circumstances.

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