The average benefit in 1950 was just $538 in 2023 dollars, nearly than $1,400 less than what it is now.
The average monthly benefit first exceeded $1,000 in 2023 dollars in 1972.
It took another 29 years for the average Social Security check to amount to more than $1,500 in 2023 dollars, which occurred in 2001.
Social Security cost-of-living adjustment by year
The Social Security cost-of-living adjustment is announced annually in October and takes effect the following January. It is meant to ensure Social Security benefits keep pace with inflation.
The Social Security cost-of-living adjustment is determined by the average rate of inflation in the third quarter of the previous year to the third quarter of the current year, measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
The Social Security cost-of-living adjustment for 2025 was 2.5%, which many retirees surveyed by The Motley Fool said is insufficient. Among respondents, 62% said the adjustment was not enough, and 44% said they are considering going back to work to earn more cash.
Average Social Security check by age
The average Social Security benefit varies by age. Americans in their 70s receive the highest average Social Security benefit. Here’s how the average benefit breaks down by age group:
- 66 to 69: $2,525
- 70 to 74: $2,916
- 75 to 79: $2,823
- 80 to 84: $2,444
- 85 to 89: $2,031
- 90+: $2,196
Delayed retirement credits max out if one retires at 70, so people who elect to receive Social Security before 70 receive smaller checks. For those over 80, they worked when wages were lower, which would reduce their monthly benefit.
Average Social Security check by retirement year
Generally, those who retired more recently receive a larger Social Security check. This is for a few reasons:
- Social Security benefits are based on an individual’s highest 35 years of earnings. Those who retired more recently are likely to have higher earnings due to wage growth and inflation.
- The average skews higher for recent retirees because Social Security checks grow every year as a result of the cost-of-living adjustment.
- Delaying retirement is a growing trend and results in beneficiaries earning delayed retirement credits, which can increase their monthly benefit by up to 8% per year (up to age 70).
Average Social Security check by type of beneficiary
FAQs
Sources
- Social Security Administration (2025). “Annual Statistical Supplement, 2024.”
- Social Security Administration (2025). “Monthly Statistical Snapshot, December 2025.”
- Social Security Administration (2025). “What is the maximum Social Security retirement benefit payable?”
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