Understanding Your Full Retirement Age
For anyone born in 1960 or later, age 67 is considered the full retirement age (FRA) by the Social Security Administration (SSA). This is the age at which you are entitled to receive 100% of your Primary Insurance Amount (PIA). The PIA is the monthly payment you are due based on your lifetime earnings record. Claiming benefits before or after this age will permanently alter your monthly payment, which is why timing is such a critical component of retirement planning.
The Average Benefit for Age 67 in 2025
As of mid-2025, data from sources like Kiplinger, drawing from the Social Security Administration, indicated that the actual average monthly benefit for a 67-year-old retired worker was approximately $2,510. This figure is significantly higher than the average for all retired workers, which typically includes many people who claimed their benefits earlier at a reduced rate. For instance, in July 2025, the average monthly check for all retired workers was reported at around $2,006. This difference highlights a key aspect of Social Security: waiting until your FRA can result in a much larger monthly check, which is a powerful advantage over the course of a long retirement.
Key Factors Influencing Your Social Security Check
Your Social Security benefit is not a one-size-fits-all number. It is influenced by several personalized factors that you can, to some extent, control. Understanding these elements is essential for forecasting your retirement income accurately.
Your Earnings History
The SSA calculates your benefit based on your 35 highest-earning years of covered wages. Covered wages are those on which you paid Social Security taxes. The SSA indexes these past earnings to account for changes in the national average wage level over time. If you work for less than 35 years, the non-working years are entered as zero-earning years in the calculation, which can significantly lower your average indexed monthly earnings and, therefore, your final benefit.
Your Claiming Age
This is perhaps the most impactful variable. While you can begin receiving benefits as early as age 62, doing so results in a permanent reduction of up to 30%. By waiting until your FRA of 67, you receive your full benefit. If you delay your claim even further, your monthly payment will increase by approximately 8% for each year you wait, up until age 70. This creates a powerful incentive to delay claiming if you are able to.
Annual Cost-of-Living Adjustments (COLAs)
Each year, Social Security benefits are subject to a COLA to help payments keep pace with inflation. For 2025, the COLA was 2.5%, which increased the average retired worker's benefit. COLAs are applied to your benefit amount, so the larger your initial benefit, the larger the dollar amount of future COLA increases will be.
Spousal and Survivor Benefits
If you are married or were married for at least 10 years, you may be eligible for spousal or survivor benefits based on your current or former spouse's work record. This can be a strategic consideration, especially if one spouse's earning history is significantly higher than the other's.
Comparing Benefit Amounts by Claiming Age
The decision of when to claim your Social Security benefits has long-term consequences for your financial security. The following comparison illustrates the trade-offs of claiming at different ages for someone with an FRA of 67.
| Claiming Age | Benefit Impact | Average Amount Comparison |
|---|---|---|
| Age 62 (Early) | Approximately 30% permanently reduced benefit. | $1,362 (early 2025 national average estimate) |
| Age 67 (Full Retirement) | 100% of your Primary Insurance Amount (PIA). | $2,510 (mid-2025 average for age 67) |
| Age 70 (Delayed) | Up to 24% higher than your full retirement benefit due to delayed retirement credits. | Up to $3,112 (estimate based on a $2,510 base) |
Maximizing Your Social Security Check
For those who want to maximize their monthly income from Social Security, several strategies can be employed, often starting long before retirement.
1. Work for at least 35 years: If you have low-earning years or years with no earnings, continuing to work can replace those with higher-earning years, thereby boosting your average indexed monthly earnings.
2. Delay claiming benefits until age 70: Waiting past your full retirement age provides the largest possible monthly benefit. For each year you delay, your benefit increases by 8% due to delayed retirement credits.
3. Coordinate with a spouse: A carefully planned claiming strategy for a married couple can significantly increase the total lifetime benefits received. This often involves having the lower-earning spouse claim early while the higher-earning spouse delays until age 70.
4. Check your earnings record: It is crucial to regularly review your Social Security earnings record to ensure it is accurate. Errors can result in a lower benefit. You can review your record by creating a my Social Security account on the official website. For more details on benefit calculations, visit the SSA's official resource www.ssa.gov.
The Role of Social Security in Your Retirement Plan
While the average Social Security check at age 67 provides a baseline for many retirees, it is rarely enough to cover all expenses for a comfortable retirement. Social Security was designed to replace only about 40% of the average worker's pre-retirement income. This reality underscores the need for a comprehensive retirement plan that includes additional sources of income.
- Personal Savings: Retirement savings in accounts like 401(k)s and IRAs are essential for supplementing Social Security income.
- Annuities: Products like annuities can convert a lump sum of savings into a guaranteed stream of income, adding a layer of financial stability.
- Working in Retirement: Many seniors continue to work part-time or even full-time to supplement their income, providing not only additional funds but also a sense of purpose and social engagement.
Conclusion
For those born in 1960 or later, understanding the nuances of claiming benefits at their full retirement age of 67 is a critical financial step. While the average check for this group was around $2,510 in mid-2025, your individual payment will reflect your unique earnings history. By strategically planning when to claim and building supplemental income sources, you can ensure a more secure and comfortable retirement. The decision to claim at 67, early, or wait until 70 is a highly personal one that should be made after careful consideration of your financial needs, health, and life expectancy.
