The Real Difference in Benefit Amount Between Claiming Social Security at 65 vs. 70

Deciding when to start collecting Social Security is one of the biggest decisions you’ll ever make. Claim too early and you could lock in a smaller check for life. Delaying could mean a bigger check, but you risk leaving money if you don’t live long enough to catch up.

So, if you’re weighing whether to start collecting at 65 or 70, here’s the average Social Security check for both years in 2026.

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The Average Social Security Check at 65 vs. 70 in 2026

The average retired worker collecting Social Security at age 65 received $1,607.27 a month as of December 2025, according to the Social Security Administration. At age 70, that average jumps to $2,274.68 a month. That’s a difference of $667.41 a month, or about $8,009 a year, depending on when you decide to collect the benefits.

Since most people have a full retirement age of 66 or 67, depending on when you were born, claiming at 65 is still early. That means reduced benefits, but not as much as collecting at 62.

Why the Gap Is So Wide

The SSA calculates Social Security benefits based on lifetime earnings, specifically the highest 35 year’s earnings adjusted for inflation. But when you claim it also affects the check you receive.

Claiming before the full retirement age (FRA) means a permanent reduction in your benefits. For example, collecting at 62 can reduce your benefits by as much as 30%, and this reduction is permanent for life.

Once you reach the FRA, you’ll earn delayed retirement credits of up to 8% for every year you wait until age 70. For instance, if your FRA is 67 and starts collecting at 69, your benefits would be 16% higher than the amount you’d have received at age 67. There’s no point of waiting past age 70.

How Far the Difference Can Stretch

An extra $667 a month, or $8,009 a year can go a long way for anyone on a fixed income.

That’s enough to pay for a full year of Medicare Part B premiums (usually deducted straight from a Social Security check) and still have thousands of dollars left over for other expenses, such as groceries, utilities, transportation or out-of-pocket medical costs. 

The Bottom Line

There isn’t a single right claiming age. While the dollar amounts matter, your specific situation should help you make a smart decision.

Consider factors such as your life expectancy, marital status, and employment situation, and whether you need income right away. You can estimate your life expectancy using SSA’s life expectancy calculator.

If you have other retirement savings and are in good health, consider delaying your Social Security benefits until age 70 for a bigger check.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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