But those who claimed at 62 receive far less. Their average monthly benefit in 2023 was just $1,298.26. Factoring in the 2024 COLA brings it to $1,339.80. And the 2.5% COLA for 2025 will make it about $1,373.30.

Every year, the SSA's Office of the Actuary releases a breakdown detailing the average monthly benefit of retired-worker beneficiaries between ages 62 and 99-plus. Keep in mind this data is based on the age of retired workers, as of December 2023, and isn't necessarily indicative of the age they began collecting their benefit, except for age 62.