Are You Getting More Than the Average Social Security Benefit?

The range of possible retirement benefits from Social Security is huge. As of 2025, the average monthly Social Security retirement benefit is $1,976, reflecting a 2.5% Cost-of-Living Adjustment (COLA) from the previous year. But some people get less, based on their lifetime earning history and at what age they started taking their benefits. How does your benefit (or expected benefit) stack up against that average – are you getting more, or less?

Minimum – Average – and Maximum Benefits

1. Minimum Benefit
   • The minimum benefit for someone who has contributed for 35 years into the Social Security system is about $1100/month. People who contributed for less than years, but enough to qualify, will get less.
2. Maximum Benefit Amounts:
   • Individuals retiring at full retirement age (FRA) in 2025 can receive up to $4,018 per month.
   • Those delaying retirement until age 70 may receive up to $5,108 monthly. Only a small percentage of people receive the maximum benefit, because to get it you have to have contributed the maximum amount for 35 years. Nasdaq
3. Full Retirement Age (FRA) Adjustments:
   • In 2025, the FRA continues to rise, reflecting longer life expectancies. If you were born in 1960 or later your FRA is 67 years. Claiming benefits before reaching the FRA results in a reduced monthly payment by up to 30%, while delaying benefits until after the FRA increases payments by 8% per year until age 70. Investopedia
4. Legislative Changes:
   • The Social Security Fairness Act, signed into law on January 5, 2025, repealed the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). This change restores full benefits to over 3.2 million public workers, including teachers, police officers, and firefighters, who were previously affected by these provisions.
5. Taxation of Benefits:
   • Social Security benefits may be subject to federal income tax if your combined income exceeds certain thresholds. Additionally, some states tax Social Security benefits.
6. Inflation Considerations:
   • The annual COLA aims to adjust benefits in line with inflation. While the 2025 COLA is 2.5%, forecasts suggest a potential decrease in the 2026 adjustment, with early estimates around 2.1% to 2.3%.

Social Security is important for most retired people. 37% of men and 42% of women get at least 50% of their income from Social Security. .

For more, see this Fact Sheet from Social Security

Comments: Were you surprised at how much you received as your Social Security benefit? Was it more, or less than you expected? Please add your Comments below.

For further reading:
File at 62 or age 70 – Which Is Better?

‘You worked it, you earned it’: Cuellar celebrates passage of Social Security Fairness Act

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