Social Security retirement payments evolution between 1990 & 2025

Currently, the Social Security payments are about $1,976 on average. That is what the 2025 COLA Fact Sheet stated back on October 10, 2024. However, as of December 1990, the average check used to be $602.56 for retired workers. Spouses of retired workers got about $311 on average back in 1990.

Ten years later, in 2000, the average Social Security payment in retirement used to be $844.48, as of December. Spouses received then monthly payments of about $429. If compared, retirees are currently receiving  $1,132 more than in 1990 on average. Although payments seem to be growing too little after COLAs, there is a considerable difference.

Social Security average payments after 2000

In a single year, retirement benefit payments were increased by 30 dollars. For your information, the average checks were about $874.44 in 2001. Thanks to these Cost-of-Living Adjustments, retirees can maintain their buying power.

Keep in mind that Social Security payments are not meant to be the main source of income. It is just a supplement for you to have additional money when you apply for retirement benefits.

A decade later, the average retirement benefits were $1,175.45. From 2000 to 2010, retirees have received about $331 extra on average. In one year, they could get $3,972 extra since there are 12 payments in one year.

Social Security’s latest changes in average payments

In 2015, the Administration sent out checks worth $1,341.77 on average. Spouses of retired workers also got higher payments then. Their average payment was 690.30. Do not forget that spouses and children can receive Social Security payments on the worker’s record.

Once more, retirees get more money from Social Security in 2020. On average, retirement benefit payments were worth about $1,544.15. Spouses’ average payments were about $796.87.

As of December 2024, the average retirement payment is worth $1,975.34 and $930 for spouses. One interesting fact about COLAs and increases is the one that took place in 2023, it was 8.7%. Therefore, it became the biggest one in 40 years. Boosting checks and deposits by a great deal of money.

Source: SSA