From $1,424 to $2,274: How Your Social Security Filing Age Impacts Your Monthly Checks
Quick Read
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Claiming Social Security at 62 cuts your monthly benefit by 30%, while waiting until 70 boosts it by 24% over your full retirement age amount.
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The average 62-year-old Social Security recipient collects $1,424 per month, compared to $2,274 for the average 70-year-old, a difference of $850 per month.
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Health, life expectancy, and spousal survivor benefits should all factor into your filing decision, not just monthly payment size.
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Social Security benefits are a lifeline for millions of Americans today. And unless you’ve got a large nest egg to tap in retirement, you may end up relying heavily on those benefits, too.
That’s why it’s so important to claim Social Security at the right time. And while the optimal age for claiming benefits depends on you, you should know that the gap between filing for Social Security as early as possible and as late as possible is huge.
The difference between age 62 and age 70
You’re eligible for your Social Security benefits without a reduction once you reach full retirement age, or FRA, which is 67 if you were born in 1960 or later.
You can file for Social Security as early as age 62. But if you do so with an FRA of 67, you’ll be looking at a permanently reduced Social Security benefit. Specifically, your checks will shrink about 30% for life.
On the flipside, if you delay Social Security past FRA, your benefits will increase 8% for each year you wait, up until you turn 70. With an FRA of 67, you have an opportunity to score a 24% boost.
So, all told, there’s a huge difference between claiming Social Security at 62 versus 70. And today’s average benefit at each age highlights just how significant it is.
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As of late 2025, the average 62-year-old on Social Security received $1,424 per month. The average 70-year-old received $2,274 per month.
Now, this doesn’t mean that the average 70-year-old receiving Social Security late last year claimed benefits at 70. Many people in that category claimed Social Security at a younger age but turned 70 in 2025.
Still, the difference between an early claim and a late one could be substantial. So it’s important to file at an age that gives you a benefit you’re happy with, and one that makes it possible to keep up with your expenses.
How to know when to claim Social Security
The decision to file for Social Security isn’t an easy one. The truth is that it’s not just a matter of how much money you’ll get each month. Your decision should also hinge on factors like your health and family history, which could determine how much Social Security you get in your lifetime.
If your health isn’t in good shape and your parents passed away fairly young, claiming Social Security at 62 could result in a larger lifetime benefit for you, even if you’re getting less money on a monthly basis. However, even that situation isn’t always clear-cut.
If you’re the higher earner in your household and are likely to pass away well before your spouse, they’ll generally be eligible for survivor benefits from Social Security. Survivor benefits are the equivalent of the monthly benefit you collect.
So even though claiming Social Security at 62 might result in a larger lifetime benefit for you, it could also lead to smaller survivor benefits, making a claim at FRA or 70 the better choice overall.
That’s why you really need to look at the big picture when deciding on Social Security. And while you can use the average benefit at 62 versus 70 as a guideline, your best bet is to crunch the numbers based on your own circumstances.
Create an SSA.gov account to get an estimate of your retirement benefit. Then, see what that benefit will be at 62 versus 70. You can use that, combined with what you know about your health, family history, and household income needs, to make an informed decision.
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