The Social Security Administration has unveiled some really interesting figures regarding retired worker beneficiaries. It shows the average payment amounts by age for both men and women. All this date is for December 2024, so it is very recent. For example, there are about 51,772,651 American retired workers on retirement benefits.
As of December 2024, the average payment was $1,975.34 for both men and women. The youngest you can get Social Security retirement benefits is 62 and their average payment was $1,341.61. While men aged 62 receive about $1,485.76, women receive about $1,207.03 on average. If you are aged 63 these average amounts are $1,504.97 for men and $1,233.28 for women.
Social Security average payments for men & women aged 64-66
As you can see, as retired workers are older, they get more money from Social Security. This is because the Agency reduces payment if you file early. In fact, you can only get 100% of your retirement benefits if you file at Full Retirement Age.
The next average retirement benefit payment will be for those aged 64. If you are a man, the average benefit payment at 64 is $1,573.59, and for women $1,288.65.
65 used to be the Full Retirement Age for some Americans. However, if you were born in 1960 or later, your new Full Retirement Age is 67. A 65-year-old can receive about $1,611.00 on average.
Men this age get about $1,784.78 and women about $1,452.55. If you are 66, $1,958.41 is the average retirement benefit payment for men and $1,580.90 for women.
Social Security average payments for men & women aged 67-70
Average Social Security payment amounts keep increasing for those aged 67. Retirees aged 67 get about $1,929 on average as of December 2024. Men get about $2,142.78 and women about 1,719.20.
Retired workers who are aged 68 get about $1,979.87 on average from Social Security. The average amount for men this age is $2,197.41 and $1,765.64 for women aged 68. Are you 69 years old?
Then, the average Social Security payment for your age group is $2,039.72. Men get approximately $2,267.09 and women about $1,816.63. So far, the average amounts keep increasing.
Average retirement benefit payments for ages 70+
Some workers have started collecting benefits at 62 and are 70 years old in 2025. Others have just filed for retirement benefits at 70 in 2025. If you are 70 and you are still working, it is time to stop working because your benefits are already 24% higher than if you had filed at Full Retirement Age and they will not grow anymore.
This age is also an interesting turning point. On average, they can receive about $2,148.12. This average amount is higher than all the previous ones. However, it is also higher than the next one for 71-year-olds. But 72-year-olds get more than 71-year-olds.
- 70 both mean and woman: $2,148.12, $2,389.95 (men) and $1,909.42 (women).
- 71 both mean and woman: $2,114.43, $2,338.31 (men) and $1,891.65 (women).
- 72 both mean and woman: $2,117.23, $2,342.94 (men) and $2,342.94 (women).
- 80 both mean and woman: $2,006.20, $2,206.47 (men) and $1,815.90 (women).
- 90 both mean and woman: $1,809.24, $1,898.37 (men) and $1,738.72 (women).
