How Much the Average Upper-Class Retiree Receives in Benefits at Age 70
Written by
John Schmoll
Edited by
Gary Dudak
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Social Security is an important source of income for many retired Americans. Over 57 million Americans aged over 65 received benefits as of May 2025, according to the Social Security Administration (SSA).
When turning 70, most begin receiving benefits as credits stop accumulating. Every situation is different, though, so it’s essential to get an idea of what’s expected to assist in retirement planning.
GOBankingRates revealed how much upper-class retirees receive in Social Security benefits once they hit 70.
How Much the Average Upper-Class Retiree Receives in Benefits at Age 70
The average monthly benefit for a 70-year-old was $2,148 as of December 2024. Men received slightly more, receiving $2,389, and women less at $1,909.
However, those numbers are only the average. For retirees in the 90th percentile, the amount increases to $3,105 across both genders, according to the SSA. Upper-class retirees can logically assume to receive relatively that amount, depending on lifetime earnings and when they began receiving payouts. For retirees wanting to know the maximum, someone 70 and over can receive, it’s $5,108 in 2025.
How Social Security Figures Monthly Benefit Amounts
The SSA uses two factors when determining the monthly benefits you can receive: Your lifetime earnings and the age at which you claim benefits. Lifetime earnings are important as the SSA takes up to 35 years of your work history. The more you earn, the higher your amount goes.
Delaying payouts to the full retirement age (FRA) is also helpful. The current FRA is 67 years of age. Americans can claim benefits early, as young as 62, but it’s costly. Putting off benefits adds 8% annually to benefits between reaching FRA and turning 70, according to the SSA.
Social Security Is Just One Piece of Retirement Planning
Although a lot of retired Americans bank on Social Security, it’s not the only available resource. Upper-class individuals may have investments and other savings that can supplement Social Security payouts.
That complete picture can aid Americans in achieving a more educated decision with their retirement funds.
Upper class retirees who are 70 can forecast receiving roughly $3,100 in monthly payouts at the end of 2024. Cost-of-living adjustments can grow that number annually.
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