Full Social Security Benefits Start at 67, But Many Would Maximize Payments by Waiting Longer

The average monthly Social Security benefit at age 67 is $1,844.83, which is 45% higher than the average benefit at age 62.

Age 67 is the full retirement age for most current and future retirees, allowing them to receive 100% of their benefit amount.

Around 1 in 7 new claims are made at age 67, and this number will likely grow as more retire at their full retirement age.

While age 67 claims avoid early filing reductions, delaying until 70 maximizes lifetime benefits for most retirees.

Though age 67 is popular, an analysis found 70 was the optimal claiming age for 57% of retirees for maximizing lifetime benefits.