Information Center

Income from Pensions


In 2022, pension benefits provided income to nearly one third of older adults. Below are some statistics on the median benefits received by older adults.

Median Pension Benefit

In 2022, one out of three older adults received income from private company or union pension plans, federal, state, or local government pension plans, or Railroad Retirement, military or veterans pensions. The median private pension benefit of individuals age 65 and older was $11,040 a year. The median state or local government pension benefit was $24,980 a year.

Table 10. Median benefit for persons age 65 and older with income from private pensions and annuities, public pensions, and veterans benefits
Type of pension benefit Median benefit, 2022
Private pensions and annuities $11,040
Federal government pension $26,380
State or local government pension $24,980
Railroad pension  N/A
Military pension $24,130
Veterans benefits $15,630


For More Statistics on the Income of Older Adults:



Table 10. Median Pension Benefit for Persons Age 65 and Older, by Type

  • March 2023 Current Population Survey, PINC-08
    Note: The higher amount for public pension benefits than private pension benefits may be attributable to the fact that government employees in some states and in many county and municipal plans are not covered by Social Security so have larger pensions to compensate for this. Also, Federal employees who worked before 1984 and opted to stay under the Civil Service Retirement System are not covered by Social Security.
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