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Income from Social Security

Nearly eight in ten older adults receives income from Social Security. Below are statistics on the benefits received by older adults, by average, median, and relative importance.

Average Social Security Benefits

In 2022, the average retiree received an estimated $21,901 a year in Social Security benefits. Couples in which both parties received benefits received $36,255 a year. The average for an aged widow or widower was $20,463.

Median Social Security Benefits

The Social Security Administration also publishes median Social Security benefit numbers. These are published less frequently. The 2022 figures show that half of all people age 65 and older received less than $18,520 a year from Social Security.

Why Social Security is So Important

Social Security benefits account for 50 percent or more of retirement income for three out of five beneficiaries who are age 65 or older. Nearly one out of five received all of their income from Social Security in 2014.

Social Security benefits are particularly important to lower-income recipients. More than half of those in the lowest one-fifth (quintile) of older adults receiving Social Security in 2014 received all of their income from Social Security.

NOTE: The source for this data was provided by the Social Security Administration in a report called the Income of the Population 55 or Older.  The report was discontinued in 2016.

For More Statistics on the Income of Older Adults:

• Income of Older Adults from All Sources
• Income of Different Groups
• Sources of Income for Older Adults
• Income from Pensions
• Income from Other Sources

Sources

Table 8. Average Social Security Benefits

• Social Security Administration. Annual Statistical Supplement to the Social Security Bulletin, 2023. 2023, Tables 5A1 and 5H2.
  Data: Social Security Administration Benefit Records
  Note: Social Security benefits are usually stated as average rather than median amounts. They are calculated by adding all benefits paid to a particular group and dividing that figure by the number of beneficiaries in that group.  Social Security figures are different from other income statistics because there is a limit on the amount of income that can be taken into account for the purpose of calculating Social Security benefits. Average Social Security numbers present realistic figures because no distortion results from the fact that a relatively small proportion of older adults have very high incomes.
  For more recent figures see: Social Security Administration, Office of Policy, “Monthly Statistical Snapshot,” Table 2.
  Data: Social Security Administration Benefit Records, 2022.

Table 9. Median Social Security Benefits, by Age

• March 2022 Current Population Survey, PINC-08.
  Note: The median figure is similar for several age groups because it comes from a survey, not actual payment data, and reflects the fact that there is relatively little difference between the highest and lowest Social Security benefit amounts.

• Table B. Importance of Social Security Benefits, by Age

Source:

• • Social Security Administration. “Income of the Population 55 or Older, 2014.” April 2016.
    Data: March 2015 Current Population Survey
    Note: Beneficiary units include retired-worker benefits, dependents’ or survivors’ benefits, disability benefits, transitionally insured benefits, and special age-72 benefits.

• Table C. Importance of Social Security Benefits, by Income

Source:

• • Social Security Administration. “Income of the Population 55 or Older, 2014.” April 2016.
    Data: March 2015 Current Population Survey.
    Note: Quintiles are calculated by ranking the population from lowest to highest income and then dividing it into five equal groups.
    * Number indicated is 0.1%.