Average Social Security Check at Age 66

The importance of social security can't be understated, especially for our senior citizens. To gauge how benefits have shifted over the years, we've analyzed the average social security check amounts at age 66 based on the latest SSA data.

This data was last updated by the Social Security Administration in June, 2023.

Introduction

If you're reading this as a 66-year-old, you're probably wondering how much you'll receive in social security benefits when you retire.

Or maybe you have retired but have not yet started receiving benefits. In that case you want to know how much you'll receive when you do start taking your social security check.

Before we dive into the averages, it's worth explaining how the SSA calculates your benefits. The amount you receive is based on your earnings history and the age at which you decide to start taking benefits, among other factors.

How Social Security Benefits Are Calculated

Average Indexed Monthly Earnings (AIME)

The Social Security Administration (SSA) starts by taking a look at your entire work history. They'll adjust (or "index") your past earnings for inflation, making earlier years' earnings comparable to the later ones. Once indexed, they'll pick the 35 highest-earning years and compute an average monthly figure. This gives us the AIME.

Primary Insurance Amount (PIA)

Using your AIME, the SSA applies a formula to determine your base monthly benefit. This formula involves three different percentages of portions of your AIME, which are commonly referred to as "bend points". The bend points change yearly, but here's a basic idea:

• A percentage (e.g., 90%) of the first portion of your AIME
• A lower percentage (e.g., 32%) of the next portion
• And an even lower percentage (e.g., 15%) of the final portion

The sum of these is your PIA if you retire at your full retirement age.

Adjustment for Age

The age at which you decide to start taking benefits impacts the amount. If you start before your full retirement age (which varies based on your birth year), your benefits are reduced. On the other side, though, you'll get a credit that increases your monthly benefits if you delay past your full retirement age.

Other Adjustments

Several other factors can further adjust the benefit:

• Cost-of-Living Adjustments (COLA): Typically, benefits increase slightly each year based on the cost of living.
• Earnings: If you're working while receiving benefits, and you're under your full retirement age, your benefits might be temporarily reduced based on how much you earn.
• Taxes: Depending on your combined income, a portion of your Social Security benefits may be taxable.

Remember, the actual amount anyone receives can vary due to these and other factors.

Average Social Security Check Amounts at Age 66

Now that we've explained exactly how this is calculated we can look at the average social security check amount for individuals at age 66 so you can get an estimate of how much you'll receive.

The average social security check amount for individuals at age 66 is $1,723.60.

This is accurate as of June, 2023 when the SSA last updated their data.

It was calculated by looking at the social security check amounts for 2,249,487 people that were receiving benefits at the age of 66 in 2023.

The data for this is released every year, and so we can also look at how this has changed over the last 11 years to see if the average social security check amount has increased or decreased.

Average Check Amounts by Year

Gender Differences for 66-Year-Olds

We also have data about the average social security check for male 66-year-olds and female 66-year-olds.

This can be useful to see what kind of gender differences there are in the average social security check amount and whether that gap is increasing or decreasing over time.

2023

In 2023 the total number of men aged 66 was 1,102,760, with an average check amount of $1,918.65.

For women, the number was 1,146,727, with an average check amount of $1,536.02.

This means that women received 19.94% less in their average social security check than men.

2022

In 2022 the total number of men aged 66 was 1,113,753, with an average check amount of $1,916.68.

For women, the number was 1,159,294, with an average check amount of $1,530.75.

This means that women received 20.14% less in their average social security check than men.

2021

In 2021 the total number of men aged 66 was 1,208,626, with an average check amount of $1,816.99.

For women, the number was 1,241,483, with an average check amount of $1,441.82.

This means that women received 20.65% less in their average social security check than men.

2020

In 2020 the total number of men aged 66 was 1,340,289, with an average check amount of $1,705.72.

For women, the number was 1,353,716, with an average check amount of $1,351.45.

This means that women received 20.77% less in their average social security check than men.

2019

In 2019 the total number of men aged 66 was 1,299,838, with an average check amount of $1,628.68.

For women, the number was 1,262,141, with an average check amount of $1,281.59.

This means that women received 21.31% less in their average social security check than men.

2018

In 2018 the total number of men aged 66 was 1,301,550, with an average check amount of $1,610.24.

For women, the number was 1,256,675, with an average check amount of $1,260.98.

This means that women received 21.69% less in their average social security check than men.

2017

In 2017 the total number of men aged 66 was 1,283,475, with an average check amount of $1,549.54.

For women, the number was 1,234,220, with an average check amount of $1,209.36.

This means that women received 21.95% less in their average social security check than men.

2016

In 2016 the total number of men aged 66 was 1,245,087, with an average check amount of $1,494.44.

For women, the number was 1,189,052, with an average check amount of $1,163.34.

This means that women received 22.16% less in their average social security check than men.

2015

In 2015 the total number of men aged 66 was 1,266,362, with an average check amount of $1,504.49.

For women, the number was 1,202,437, with an average check amount of $1,163.45.

This means that women received 22.67% less in their average social security check than men.

2014

In 2014 the total number of men aged 66 was 1,282,704, with an average check amount of $1,530.36.

For women, the number was 1,210,272, with an average check amount of $1,171.83.

This means that women received 23.43% less in their average social security check than men.

2013

In 2013 the total number of men aged 66 was 1,370,105, with an average check amount of $1,501.10.

For women, the number was 1,268,895, with an average check amount of $1,133.61.

This means that women received 24.48% less in their average social security check than men.

Conclusion

Hopefully this article has helped you to understand how social security benefits are calculated for 66-year-olds and how much you can expect to receive in your social security check.

Make sure that you contact the SSA directly to get an accurate estimate of your benefits, as there are many factors that can affect the amount you receive.

They also have a number of online calculators that you can use to get an estimate.

Reference SSA Locator

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