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Income from Social Security

Nearly nine 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 2013, the average retiree receives an estimated $15,132 a year in Social Security benefits. Couples, where both are receiving benefits receive $24,576 a year. The average for an aged widow or widower is $14,568.

Table 8.  Average Social Security benefits, 2013

Measures of Social Security benefits

Average annual benefit

Average benefits for retired workers

$15,132

Average benefits received by a couple, both of whom were receiving benefits

$24,576

Average aged widow/widower benefit

$14,568

Median Social Security Benefits

The Social Security Administration also publishes median Social Security benefit numbers. These are published less frequently. The 2011 figures show that half of all people age 65 and older received less than $13,376 a year from Social Security.  

Table 9. Median Social Security benefits, by age, 2011

Age group

Median annual benefit ($)

65 and older

$13,376

65-74

$13,525

75+

$13,247

Why Social Security is So Important

Social Security benefits account for 50 percent or more of retirement income for three out of five beneficiaries receiving Social Security benefits who are age 65 or older. Nearly one out of four received all of their income from Social Security in 2010. For additional information view the statistics here.

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 2010 received all of their income from Social Security. The full table on income quintiles can be viewed here.

 

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