For many Americans, Social Security represents a significant part of their average retirement income. By age 70, most people have either already claimed their benefits or are about to. If you’ve waited until now to claim, you’ll receive the maximum possible monthly benefit thanks to delayed retirement credits. Regardless of when you claimed, knowing what the average Social Security check is at age 70 can help you better manage your retirement planning.
A financial advisor can help you plan how to manage your retirement income in a way that fits your needs.
The Average Social Security Benefit at Age 70
To find out what your future benefits might look like, apply the Social Security Administration’s cost-of-living adjustments (COLAs), which are meant to keep benefits in line with inflation. In 2025, benefits rose by 2.5%. Applying those adjustments, the estimate rises to about $2,571.70 for 2025.
So, if you began receiving Social Security benefits at age 67 and had average lifetime earnings, your benefit in 2025 could be close to $2,571.70 per month. Of course, this is an estimate. Actual benefits can vary based on your earnings history and personal claiming decisions.
What If You Waited Until Age 70 to Claim?
If you waited until age 70 to begin receiving Social Security, you’re benefiting from delayed retirement credits. These increase your monthly payment for each year you delay past your full retirement age, up to age 70. These credits stop accruing once you reach 70, so there’s no advantage to waiting any longer.
The boost from these credits can make a significant difference in your monthly income. Based on the same SSA data, the average monthly benefit for a 70-year-old who delayed claiming and received these credits was $3,031.98.
Applying the same COLA as above, the estimated average monthly benefit in 2025 would be about $3,107.78. That means if you waited until age 70 to claim and had average earnings, your 2025 monthly Social Security check could approach $3,107.78.
As always, individual and spousal benefit amounts may differ based on your earnings record and the exact timing of your claim.
Why Claiming at 70 Can Maximize Your Benefit
Delaying your Social Security benefits until age 70 can result in a significantly higher monthly payment. This is thanks to what the Social Security Administration (SSA) calls delayed retirement credits. For each year you wait to claim beyond your full retirement age (typically 66 to 67, depending on your birth year), your monthly benefit increases by 8% per year. These credits stop accumulating once you reach age 70, though. This means there’s no additional financial advantage to delaying your claim past that point.
If your full retirement age is 67, waiting until 70 allows you to collect 124% of your full benefit amount. This can provide a substantial income boost during retirement, especially over the course of 20 or 30 years. For individuals without a pension or other guaranteed sources of income, this higher benefit can help cover rising healthcare costs, inflation and other living expenses in later retirement.
The SSA designed these delayed retirement credits to provide flexibility for retirees and to reward those who choose to wait. While the decision to delay depends on your personal health, life expectancy, and retirement savings, it’s worth considering if you can afford to postpone benefits and want to maximize your long-term income.
Frequently Asked Questions
What If I Started Claiming Social Security Before Age 70?
If you claimed benefits at 68 or 69, you’re still receiving an increased monthly amount compared to someone who claimed at full retirement age or earlier. However, your benefit won’t be as high as it would have been if you had waited until age 70. The earlier you started after FRA, the smaller the increase, but you still benefited from delayed retirement credits.
Are Social Security Benefits Taxable at Age 70?
Yes, Social Security benefits can be taxable at any age, including 70, depending on your income level. If your combined income (which includes half of your Social Security plus other earnings) exceeds $25,000 for individuals or $32,000 for couples, up to 85% of your benefits may be subject to federal income tax. Some states also tax Social Security, so be sure to check your state’s rules.
Bottom Line
By age 70, your Social Security benefits are either already in place or about to begin. But knowing how the age at which you claim affects your monthly payments can help you better manage your retirement income. If you waited until age 70 to claim, you’re likely receiving the highest possible monthly benefit thanks to delayed retirement credits.
Retirement Planning Tips
- A financial advisor can help you create a financial plan to make your nest egg last. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Required minimum distributions from tax-deferred retirement accounts can affect your taxes in retirement. SmartAsset’s RMD calculator can help you estimate how much you’ll need to withdraw.
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