{"id":192926,"date":"2025-09-02T01:53:15","date_gmt":"2025-09-02T01:53:15","guid":{"rendered":"https:\/\/www.europesays.com\/us\/192926\/"},"modified":"2025-09-02T01:53:15","modified_gmt":"2025-09-02T01:53:15","slug":"this-is-the-average-social-security-benefit-for-age-70","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/192926\/","title":{"rendered":"This Is the Average Social Security Benefit for Age 70"},"content":{"rendered":"

People approaching retirement should consider whether delaying benefits is worth the monthly increase.<\/p>\n

For 90 years, Social Security<\/a> has provided millions of Americans with a financial lifeline in retirement<\/a>, helping to keep many Americans above the poverty line. That’s why deciding when you want to claim benefits is such a crucial decision because it permanently affects how much you’ll be receiving in monthly benefits.<\/p>\n

As of the end of 2024, the average monthly benefit for someone aged 70 was $2,148.12, or approximately $25,777 annually. For men, the average benefit at that age is $2,389.95, and for women, it’s $1,909.42 (the difference is due to the disparity in lifetime earnings).<\/p>\n

\"Two<\/p>\n

Image source: Getty Images.<\/p>\n

How claiming at 70 affects your monthly benefit<\/p>\n

For anyone born in 1960 or later, your full retirement age<\/a> (FRA) is 67. This is the age at which you can receive your full monthly benefit amount, known as your primary insurance amount<\/a> (PIA). Starting at your PIA, the Social Security Administration calculates your monthly benefit based on whether you claim before or after your FRA.<\/p>\n

By delaying benefits past your FRA, you increase your monthly benefit by 2\/3 of 1% monthly, or 8% annually. You can delay benefits and receive this increase until you reach age 70; after that, your monthly benefit is no longer increased, so that’s realistically the latest age you should claim benefits.<\/p>\n

For example, if your PIA was $2,000 at your FRA (assuming it’s 67), delaying benefits until 70 would increase your monthly amount by 24%, taking it to $2,480. This increase, along with the annual cost-of-living adjustment<\/a> (COLA), is why the average benefit is higher at 70 than at younger ages.<\/p>\n","protected":false},"excerpt":{"rendered":"People approaching retirement should consider whether delaying benefits is worth the monthly increase. For 90 years, Social Security…\n","protected":false},"author":3,"featured_media":192927,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,255,67,132,68],"class_list":{"0":"post-192926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-personal-finance","10":"tag-united-states","11":"tag-unitedstates","12":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115132211194572884","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/192926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=192926"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/192926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/192927"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=192926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=192926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=192926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}