How Your Social Security Check Changes at Ages 62, 65, 66, 67 and 70

Understanding how the average Social Security check amount changes at the different milestone claiming ages — 62, 65, 66, 67 and 70 — is key to retirement planning.

These figures highlight the significant impact that the claiming age has on your monthly income and overall financial security in retirement.

To quote the rocker, Joan Jett, "Nobody knows what anticipation is anymore. Everything is so immediate." Social Security, however, is the exception to that adage.

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In simple terms, you can get a bigger Social Security check for the rest of your life for every month you wait to claim your benefits after your full retirement age (FRA). You'll earn a delayed retirement credit worth an extra two-thirds of 1% for each month you delay after your FRA, adding up to 8% for each full year you wait until age 70.

On the flip side, in the case of early retirement, you'll permanently shrink your Social Security check for every month you retire before your FRA. Benefits are reduced by five-ninths of 1% for each month before your FRA, up to 36 months. If the number of months exceeds 36, the benefit is further reduced by five-twelfths of 1% per month.

Let's look at the real-world consequences of the eight-year window that makes up your Social Security claiming age by digging into Social Security's Annual Supplement for 2025. Tables are based on data found in Table 5.A1.1 (PDF)

Retired-worker beneficiaries: Number and average monthly benefit, by age and sex, December 2024 and Table 5.A3a. (PDF)

Retired-worker beneficiaries with benefits reduced for early retirement: Number and average monthly benefit, by age and sex, December 2024.

Claiming early: Age 62

Age 62 is the earliest you can claim Social Security retirement benefits. Any time you claim benefits before your FRA, you'll reduce your monthly benefits for the rest of your life.

This is critical information for anyone who needs to access retirement income early due to job loss, health issues, caregiving demands or other financial needs.

While it provides income sooner, it also means a lower monthly payment for the rest of your life. (If you claimed benefits within the past 12 months and changed your mind, you might be able to stop Social Security and restart it later.)

Why it's important: Claiming at 62 results in a permanently reduced monthly benefit. The reduction can be substantial, as much as 30% for those with an FRA of 67.

The average check at age 62: The average check at 62 of $1,341.61 is significantly lower than the average check at FRA or later. How does it compare to the average check for those age 70? It's 37.6% less than the $2,148.12 the average 70-year-old receives.

Claiming early: Age 65

Age 65 is a significant milestone, as it marks your eligibility to enroll in Medicare. This is the earliest you can enroll in Medicare; there are no provisions or exceptions for those who retire before 65. Access to health care is an obstacle that prevents many employees from retiring earlier who would otherwise do so.

The decline of employer-provided health care in retirement has made Medicare eligibility more important to retirees, according to a paper by the Center for Retirement Research. That's because if an employee leaves work before age 65, they must purchase insurance on their own without the subsidies that usually accompany workplace-provided health insurance.

If you retire at age 65, you will have access to Medicare, but any time you claim benefits before your FRA, you'll reduce your monthly benefits for the rest of your life.

Why it's important: Claiming at 65 results in a permanently reduced monthly benefit, and the reduction can be significant. If your FRA is 67 and you claim at 65, 24 months early, your benefit will be permanently reduced by approximately 13.3% (24 months times five-ninths of 1% per month).

The average check at 65: Did you know that 2007 was the last year 65 was the FRA for retirees? Now, FRA is somewhere from 66 to 67, depending on the year you were born. As collecting benefits at 65 would be before the FRA, the average check at 65 is lower than the average check at FRA or at 70 with maximum delayed retirement credits.

Let's compare the average check of a retired worker age 65, $1,611.00, to that of a 70-year-old with a reduction for early claiming, which is $2,148.12. The difference is significant at 25%, or $537.12 per month, or $6,445.44 annually.

Claiming ages 67/66: full retirement age

Your full retirement age is the point at which you are entitled to receive 100% of your Social Security benefit, which is based on your lifetime earnings record. This age varies depending on your year of birth. For anyone born in 1960 or later, the FRA is 67.

Why it's important: If you continue to work after reaching your FRA, your benefits won't be reduced, regardless of how much you earn.

The average check at 66/67: You've made it to the finish line, and at this point, there's only one way to increase the size of your check — wait even longer to claim your benefits. The average benefit at age 67 is $1,929.73, which is $218.29 less per month than the average benefit received at age 70.

An even more interesting comparison is what the average benefit is at age 67 and at that same age with a reduction for claiming early benefits. The 67-year-old collecting reduced benefits gets $215.24 less monthly, or 11% less than their counterpart without a reduction.

Claiming at 70: Eligible for maximum delayed credits

Why it's important: For each year you delay claiming past your FRA, your monthly benefit increases by an extra two-thirds of 1% for each month, known as Delayed Retirement Credits. This increase adds up to 8% for each full year you wait until age 70.

The average check at 70: The average check at age 70 can be substantially higher than the check at your FRA. For a person with an FRA of 67, waiting until 70 can result in a monthly benefit that is 24% higher. This provides a significant boost to a person's retirement income, particularly for those who have other sources of income and can afford to wait.

The difference between the average checks at 62 and 70 can be dramatic. It's easy to illustrate by comparing the average benefit at age 70 with the average benefit of those workers who claimed earlier than 70. The average benefit is almost 20% greater, at $2,148.12, compared with $1,724.15.

Here are the maximum possible benefits in 2025

By comparing the maximum benefit by age, it's easy to quantify the bump in benefits you receive when you delay collecting benefits until age 70. The difference in 2025 between the maximum benefit for someone who retires early at 62, vs waiting until 70 is $2,187.

In the table below, the maximum benefit is $5,018 at age 70, and the maximum reduced benefit is $2,831 at age 62. This is a loss of 45% or $2,187. When compared to the benefit at FRA, there is a 31% reduction, or $1,187, monthly.

The broader impact of your claiming age

The full retirement age for Social Security benefits and Medicare eligibility used to be in sync. In the past, you could retire at age 65 and collect your full retirement benefit and health care coverage through Medicare. Everyone born after 1942 faces a full retirement age from 66 to 67 years old.

There are additional factors to consider when determining your claiming age. Ultimately, whether you claimed early, at FRA or waited until 70, that amount becomes the basis for your future cost-of-living adjustments and potential spousal benefits.

In particular, you should understand how claiming Social Security early will affect your spousal benefits, or vice versa. Because the maximum amount you can claim is 50% of your spouse’s full benefit, half of a reduced benefit might not be enough to support your household.

The Social Security Administration (SSA) recently reported a rise in new claims across all age groups, likely due to concerns about DOGE's involvement and Social Security's funding woes.

Most experts recommend that your strategy for when to claim not change due to these issues; focusing on your age continues to be the most important factor to maximize your monthly check.

At the end of the day, the "best" age to claim is a highly personal decision that depends on your individual circumstances, including your health, life expectancy, other sources of retirement income, and whether you're single or married. Those are the factors you need to consider in addition to the financial consequences.

To learn more about what you stand to lose if you claim your benefits early, use the Social Security Administration's "Full Retirement and Age 62 Benefit By Year Of Birth" table to get a detailed list of reductions based on your FRA.

You can also take a look at Kiplinger's Retirement Calculator to help you estimate what your retirement savings will be worth in the future.

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