For millions of Americans planning retirement, Social Security plays a vital role in ensuring a stable income. But the monthly benefit amount varies greatly depending on the age you choose to begin collecting. A closer look at the average monthly payments in 2025 shows just how much of a financial difference timing can make.
Early Retirement at 62
The earliest age to claim Social Security retirement benefits is 62. However, this choice comes with a price. Individuals who opt for early retirement receive significantly reduced monthly checks for the rest of their lives.
In 2025, the average monthly benefit for someone claiming at age 62 is approximately $1,342, according to data compiled by The Motley Fool.
This reduction happens because claiming at 62 can cut your full retirement benefits by up to 30%, depending on your birth year. For example, someone whose full retirement age is 67 and claims at 62 will receive just 70% of their full benefit amount.
For those with a high earnings record, the maximum possible monthly benefit at age 62 is $2,831 in 2025. While this might seem substantial, it’s significantly lower than the maximum allowed if benefits are delayed until age 70.
Full Retirement Age – 67
Waiting until your Full Retirement Age (FRA)—typically 66 or 67 depending on your birth year—brings you closer to receiving your full benefit amount with no penalties.
For Americans who begin collecting benefits at age 67, the average monthly Social Security payment is $1,894.
This amount reflects a more standard benefit, without the reductions that come with early claiming or the bonuses from delaying. According to the Social Security Administration, this age is often considered a balanced option for those who need income but still want to avoid the long-term loss of early retirement.
The maximum possible monthly benefit at full retirement age in 2025 is $4,018, assuming a long history of maximum earnings contributions to Social Security.
Delayed Retirement at 70
For those who can afford to delay their benefits, age 70 provides the highest monthly payout possible under the current Social Security rules. Each year you delay collecting past your FRA, your benefit grows by about 8% annually thanks to Delayed Retirement Credits.
In 2025, the average monthly Social Security benefit at age 70 is around $2,148—an impressive jump compared to the $1,342 average at age 62.
High earners who wait until age 70 can receive up to $5,108 per month, the maximum benefit amount in 2025. That’s nearly double the amount of someone who starts at age 62.
Delaying benefits can be especially useful for those who expect to live well into their 80s or beyond. While it means living without Social Security income for several years, the higher benefit can provide more long-term financial security.
Gender Gap in Social Security
While the average benefits offer a general idea, they can differ by gender. According to recent estimates:
- Men at age 70 receive an average of $3,208.77 per month
- Women at age 70 receive $2,614.25
This gap reflects broader income inequality and career interruptions many women face over their lifetimes, leading to smaller contributions and, therefore, lower benefit amounts.
Maximum Social Security Benefits in 2025
The Social Security Administration updates benefit caps annually. In 2025, the maximum monthly benefit amounts are:
- $2,831 at age 62
- $4,018 at full retirement age (66 or 67)
- $5,108 at age 70
These figures represent the ceiling for workers with a long and high-earning work history, typically someone who consistently hit the taxable wage base for 35 years.
You can explore your personalized benefits estimate using the SSA’s Quick Calculator tool, which allows you to input your earnings and see estimates based on different claiming ages.
Claiming Strategy: What’s Right for You?
There’s no one-size-fits-all approach. Deciding when to claim Social Security depends on several personal factors, including health, expected longevity, income needs, and employment status.
If you claim early, you receive smaller checks over a longer period. If you delay, you get larger payments but for fewer years. For many retirees, the break-even point—where the total income from delaying equals the income from early claiming—falls somewhere in your late 70s or early 80s.