Social Security
Retirement, disability, and survivors benefits funded by payroll taxes. 3.6% increase from January 2027. Average retirement benefit: $2,170/month.
Three types of Social Security
- Retirement (OASI) — Monthly payments once you claim, from age 62 to 70. Higher the longer you wait, up to age 70.
- Disability (SSDI) — For workers who become too disabled to work. See SSDI page.
- Survivors — For widows, widowers, and dependents of deceased workers. See survivors benefits page.
2027 COLA: 3.6%
All Social Security and SSI payments increase 3.6% starting in January 2027. The average retired worker benefit rises from $2,095 to approximately $2,170/month. The increase is automatic — nothing is required.
When to claim retirement
You can claim as early as 62 (reduced benefit) or wait until 70 (maximum benefit). Full Retirement Age for people born in 1960 or later is 67. Every month you wait past 62 increases your eventual payment.
See your projected benefit amounts Log in to my Social Security