This Is the Average Social Security Benefit for Age 65

According to the most recent Social Security statistical supplement, which is based on December 2022 benefits, the average Social Security Benefit for a 65-year-old retired worker is $1,504.98 per month, or about $18,060 per year.

It's worth noting that a 3.2% cost-of-living adjustment, or COLA, was given starting with December 2023 benefits. So, the current average for a 65-year-old will likely be about $1,553 per month after accounting for that increase.

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A few things to keep in mind

First of all, this is the average Social Security benefit for a 65-year-old retired worker. It is not the average for people who start Social Security at 65, and it includes people who started as early as 62. In other words, the average person who claims Social Security at exactly 65 years of age will likely get significantly more than this average.

On a similar note, everyone who is receiving Social Security at 65 years of age started collecting before they reached full retirement age. For Americans born in 1960 or later, full retirement age for Social Security purposes is 67.

Sixty-five is a popular age to retire and start collecting Social Security because it is the age of Medicare eligibility -- that is, it's the first time most workers no longer have to worry about how they'll maintain health coverage in retirement.

Finally, this is the average benefit for retired workers who are 65 years old. There are other types of Social Security benefits, such as those for spouses of retired workers (spousal benefits), survivors of retired workers (survivors benefits), and children of some retired workers, to name a few.

If you're curious about the overall average Social Security benefit by type of recipient, here is the latest data as of June 2024:

• Retired workers: $1,918.28 per month
• Spouses of retired workers: $910.95 per month
• Children of retired workers: $893.09 per month
• Nondisabled widow(er)s of retired workers: $1,784.09 per month

Keep in mind that these are just the averages. Check out our overview of how Social Security works to see how you might be able to get more than the average.

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