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Each year, the SSA's Office of the Actuary updates a table showing the average monthly benefits for retirees aged 62 to 99 and older. The table is based on the average monthly checks distributed in December 2024, which will be replicated this year.
When examining this data, it is important to bear in mind that it is based on age reached by December 2024 and does not necessarily indicate their application age (with the exception of age 62). For example, a 66-year-old retired beneficiary could have initially claimed their pension between the ages of 62 and 66.
The SSA benefits table according to the retiree's age
The social program is responsible for lifting more people out of poverty where the Center on Budget and Policy Priorities found that nearly 22 million people were favored in 2024, including 16.3 million seniors over the age of 65. It is also a program that retirees rely heavily on to make ends meet.
Payment to retirees is allocated as follows according to their age, which ranges from 62 to 99 or older:
- 62 - $1,341.61
- 63 - $1,364.48
- 64 - $1,425.42
- 65 - $1,611.00
- 66 - $1,763.99
- 67 - $1,929.73
- 68 - $1,979.87
- 69 - $2,039.72
- 70 - $2,148.12
- 71 - $2,114.43
- 72 - $2,117.23
- 73 - $2,087.94
- 74 - $2,054.16
- 75 - $2,064.53
- 76 - $2,076.39
- 77 - $2,046.16
- 78 - $2,060.78
- 79 - $2,012.59
- 80 - $2,006.20
- 81 - $2,004.45
- 82 - $2,007.04
- 83 - $2,006.39
- 84 - $1,983.59
- 85 - $1,944.05
- 86 - $1,924.82
- 87 - $1,893.13
- 88 - $1,838.39
- 89 - $1,813.00
- 90 - $1,809.24
- 91 - $1,814.93
- 92 - $1,838.03
- 93 - $1,825.54
- 94 - $1,815.61
- 95 - $1,814.95
- 96 - $1,821.27
- 97 - $1,822.09
- 98 - $1,798.73
- 99+ - $1,775.88
The factors used to calculate your monthly benefit as a retired worker
Although Social Security is sometimes not the easiest government program to understand, the four variables used by the Social Security istration (SSA) to calculate your benefit as a retired worker are straightforward. In no particular order, these are:
- Earnings history
- Employment history
- Full retirement age
- Age claim
Your income and work history are two closely related factors. When calculating your monthly benefit as a retiree, the SSA will look at your 35 years of highest earnings, adjusted for inflation. If you have earned an above-average salary throughout your life (investment income is not included), you are quite likely to also receive an above-average Social Security check as a retiree.