Delaying benefits can mean an extra four‑figure boost every month for future retirees. Choosing when to claim Social Security may be the biggest paycheck decision you ever make. Older Americans who hold off until 70 are now seeing the largest monthly benefit in program history, and the numbers might surprise you.
Waiting sounds simple, but life rarely is. Can you really afford to stay on the job longer, and will the bigger check offset the extra years of work? Let’s unpack the latest figures and see who stands to gain the most.
Why holding off until 70 could unlock a record Social Security payout
For workers who hit full retirement age (FRA) in 2025—66 or 67, depending on birth year—the Social Security Administration (SSA) says the ceiling benefit is $4,018 per month. Claim at 62, however, and the cap drops to $2,831 because early filers forfeit roughly 30 percent of their entitlement. Stick it out until 70 and the maximum leaps to $5,108, thanks to delayed‑retirement credits that add 8 percent for every year past FRA.
That 70‑year benefit is about 24 percent higher than the FRA amount and a striking 80 percent more than the age‑62 check. No wonder nine in ten Americans would be better off waiting, according to multiple retirement studies. Still, only 10 percent say they plan to do so, the 2024 Schroders U.S. Retirement Survey found. Thinking of tapping benefits early? Consider how the math plays out over a decades‑long retirement.
| Claiming age | 2025 maximum monthly check | Share of full benefit |
|---|---|---|
| 62 | $2,831 | 70 % |
| 66–67 (FRA) | $4,018 | 100 % |
| 70 | $5,108 | 124 % |
The average retiree collects far less—about $1,981 a month—so earning power and work history still matter. Even so, the same percentage adjustments apply to everyone, meaning a larger or smaller base amount grows at identical rates.
How today’s average check compares with claiming at 62 or 67 for typical earners
Picture a career worker entitled to the current average benefit at FRA. Filing at 62 would trim the payment to roughly $1,387, while waiting until 70 could lift it to about $2,456. That’s an extra $1,069 every month—money that could cover Medicare premiums, rising rents, or long‑overdue vacations.
Of course, delaying isn’t for everyone. Health concerns, unemployment, or caregiving duties can force an earlier claim. If that’s you, maximizing other income streams—such as a 401(k) or part‑time work—helps bridge the gap so your future check can keep growing.
The longer you wait, the fattier the check. For many recipients, postponing benefits until 70 transforms a modest payment into a powerful inflation‑proof income stream. Before you circle a date on the calendar, crunch the numbers, revisit your budget, and talk with a trusted adviser. After all, Social Security is for life—so choose the start date that works for yours.