How Much More Would You Get If You Waited Until 70 to Claim Social Security? Here's the Math.
Key Points
Filing at your full retirement age will earn you 100% of your earned payment.
Delaying past that age will earn you a bonus of between 24% and 32%.
The average retiree collects nearly $1,000 more per month at age 70 than at 62.
- The $23,760 Social Security bonus most retirees completely overlook ›
Social Security is a lifeline for many older adults, and delaying claiming by even a year or two can boost your benefits by hundreds of dollars per month. By waiting until 70 to file, you'll earn larger checks for the rest of your life.
But just how much will delaying benefits affect your monthly payment? Here's exactly how to find out.
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How your age affects your benefit amount
The first figure you'll need to know is your full retirement age (FRA). This is the age at which you'll receive 100% of the benefit you're entitled to based on your work history. Your FRA depends on your birth year, but it's between 66 and 67 for everyone.
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Once you know your FRA, you'll be able to determine how your claiming age will affect your benefit amount. For simplicity's sake, let's assume your FRA is age 67. For every month that you file before your FRA, your benefit will be reduced. By filing as early as possible at age 62, you'll receive around 70% of your full benefit amount.
| Age You Begin Taking Social Security | Percentage of Your Full Benefit Amount You'll Receive |
|---|---|
| 62 | 70% |
| 63 | 75% |
| 64 | 80% |
| 65 | 86.7% |
| 66 | 93.3% |
| 67 (FRA) | 100% |
Data source: Social Security Administration.
Delaying Social Security past your FRA will earn you 100% of your full benefit amount plus a bonus amount each month. If your FRA is 67 and you delay until age 70, you'll collect a 24% addition on top of your original payment.
| Age You Begin Taking Social Security | Percentage of Your Full Benefit Amount You'll Receive |
|---|---|
| 67 (FRA) | 100% |
| 68 | 108% |
| 69 | 116% |
| 70 | 124% |
Data source: Social Security Administration.
If your FRA is between 66 and 67, you'll receive a slightly larger bump by waiting until 70 to file. Those with an FRA of 66 years old can expect to receive a 32% bonus at age 70 in addition to their full benefit amount.
How much does the average retiree collect at age 70?
To get an idea of what you'll receive from Social Security, you can check your statements online. If you've worked and paid Social Security taxes for at least 10 years, you'll see an estimate based on your real earnings.
It can also sometimes be helpful to see what the average retiree collects in benefits. While everyone's situation is unique, averages can make it a little easier to set your expectations and plan for retirement.
| Age | Average Benefit Amount (December 2025) |
|---|---|
| 62 | $1,424 |
| 63 | $1,436 |
| 64 | $1,478 |
| 65 | $1,607 |
| 66 | $1,807 |
| 67 | $2,016 |
| 68 | $2,053 |
| 69 | $2,097 |
| 70 | $2,275 |
Data source: Social Security Administration.
The average retired worker collects around $850 more per month at age 70 than at 62, according to December 2025 data from the Social Security Administration. Even delaying from 67 to 70 increases the average benefit by around $260 per month.
The age at which you begin taking Social Security is a personal decision that depends on your priorities. Understanding how your filing age affects your benefit amount will help you make the best choice for your retirement.
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