A table displaying the average monthly benefits for retirees ages 62 to 99 and older is updated annually by the SSA’s Office of the Actuary.
The average monthly checks sent out in December 2024, which will be repeated this year, are the basis for the table.
It is crucial to keep in mind that this data is based on the age attained by December 2024 and does not necessarily represent the age at which they applied (save for age 62).
A retired recipient who is now 66 years old, for instance, could have first collected their pension between the ages of 62 and 66.
The SSA benefits table based on the age of the retiree
More individuals are being lifted out of poverty thanks to the social program; according to the Centre on Budget and Policy Priorities, approximately 22 million people, including 16.3 million seniors over 65, were favoured in 2024.
Additionally, retirees mostly depend on this program to make ends meet. Retirees’ payments are distributed based on their age, which varies from 62 to 99 years of age or older:
| Age | Average Monthly Benefit ($) | Age | Average Monthly Benefit ($) |
| 62 | 1,341.61 | 81 | 2,004.45 |
| 63 | 1,364.48 | 82 | 2,007.04 |
| 64 | 1,425.42 | 83 | 2,006.39 |
| 65 | 1,611.00 | 84 | 1,983.59 |
| 66 | 1,763.99 | 85 | 1,944.05 |
| 67 | 1,929.73 | 86 | 1,924.82 |
| 68 | 1,979.87 | 87 | 1,893.13 |
| 69 | 2,039.72 | 88 | 1,838.39 |
| 70 | 2,148.12 | 89 | 1,813.00 |
| 71 | 2,114.43 | 90 | 1,809.24 |
| 72 | 2,117.23 | 91 | 1,814.93 |
| 73 | 2,087.94 | 92 | 1,838.03 |
| 74 | 2,054.16 | 93 | 1,825.54 |
| 75 | 2,064.53 | 94 | 1,815.61 |
| 76 | 2,076.39 | 95 | 1,814.95 |
| 77 | 2,046.16 | 96 | 1,821.27 |
| 78 | 2,060.78 | 97 | 1,822.09 |
| 79 | 2,012.59 | 98 | 1,798.73 |
| 80 | 2,006.20 | 99+ | 1,775.88 |
The elements that go into determining your monthly retirement benefit
The four factors that the Social Security Administration (SSA) uses to determine your pension as a retired worker are simple, even though Social Security isn’t often the most understandable government program. These are in no specific order:
- History of earnings
- History of employment
- Age of full retirement
- Age assertion
There is a strong correlation between your employment history and income. The Social Security Administration will use your 35 years of greatest earnings, adjusted for inflation, to determine your monthly payment as a retiree.
It is quite probable that you will receive an above-average Social Security check as a retiree if you have consistently earned an above-average wage throughout your life (excluding investment income).
Source: Marca
