The Social Security Administration has released data on average benefits for retirees at age 67. According to the agency's 2025 annual statistical supplement, the average monthly benefit for all retired workers age 67 was nearly $2,163 as of December 2024. This amounts to $25,956 annually.
Men aged 67 received an average monthly benefit of $2,393, while women received approximately $1,915. These figures apply to workers unaffected by early retirement reductions or delayed retirement credits.
Retirees can claim Social Security benefits as early as age 62 or as late as age 70. Claiming before the full retirement age reduces monthly benefits, while delaying increases them. For those born in 1960 or later, the full retirement age is 67.
Each month of early claiming reduces benefits by a small percentage. Claiming at age 62 can lower benefits by up to 30%. Conversely, delaying benefits past the full retirement age increases them by a certain percentage each month. Waiting until age 70 can increase benefits by 24%.
The data from December 2024 has been adjusted for cost-of-living increases. The 2025 adjustment of 2.5% raised the average monthly benefit to approximately $2,217. The 2026 adjustment of 2.8% brings it to about $2,279, or $27,349 yearly.
Individual benefits depend on earnings during working years and the age at which benefits are claimed. Retirees must consider their financial situation and health when deciding when to claim. Those with limited savings or health issues often claim early, while those with savings and good health may wait longer.
Social Security provides benefits to millions of retirees, supplementing savings or serving as primary income. The program has complex rules, and retirees are encouraged to understand potential benefits for better planning.