what is the average social security benefit per month

what is the average social security benefit per month

1 year ago 41
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As of August 2023, the average Social Security benefit check is $1,705.79. However, the amount can differ drastically depending on the type of recipient. Retirees typically make more than the overall average, with the average retired worker receiving $1,837.29 each month. Here is a breakdown of the average Social Security check by recipient, as of June 2023:

  • All recipients: $1,701.62
  • Retirement benefits: $1,788.89
  • Retired workers: $1,837.29
  • Survivor benefits: $1,451.85
  • Nondisabled widow(er)s: $1,713.36
  • Disability insurance: $1,347.18
  • Disabled workers: $1,486.42

Its important to note that Social Security benefits are based on the earnings on which people pay Social Security payroll taxes. The higher their earnings (up to a maximum taxable amount, $160,200 in 2023), the higher their benefit. Social Security benefits are also progressive, meaning they represent a higher proportion of a worker’s previous earnings for workers at lower earnings levels.

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