Social Security plays a key role in helping tens of millions of Americans afford retirement, as well as providing income support to millions of others such as due to disability. Yet the actual amounts received are often quite modest. Below we explore how much it has been previously and what it will be this coming fall.
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Social Security Payment Amounts
In July 2025, among retired workers claiming Social Security, the average payment was $2,006.69, according to the Social Security Administration (SSA). Your own Social Security check only changes at the start of the year due to cost-of-living adjustments (COLA), but each month, the average across the system does still tend to tick up. That’s because new entrants into the system often have higher benefit amounts than older ones who pass away and exit the system.
In June 2025, for example, the average Social Security payment to retired workers was $2,005.05. Going back to the start of the year, January 2025, the average Social Security payment for retired workers was $1,978.77. That means the average payment has ticked up by an average of $4.65 per month.
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So, if we apply that increase to the current amounts, that would mean that by September 2025, the average Social Security payment for retired workers would be $2,015.99.
In other words, although the average payment is ticking up each month, by Fall 2025, that still won’t be enough money for many retirees to live on.
Average Spending in Retirement
Retirement spending can vary significantly based on factors such as location and your health. On average, though, total average annual household expenditures for those ages 65 or older equals $60,087, according to the most recent Bureau of Labor Statistics data.
That means that retirees spend roughly $5,000 per month in their household. So, if two retirees combined average monthly Social Security checks, they’d still be about $1,000 short per month.
For many retirees, drawing down their retirement savings provides the necessary income to afford a more comfortable lifestyle. However, many people have undersaved for retirement and have to rely mainly on Social Security.
An AARP survey found that 20% of adults ages 50 or older do not have any retirement savings and 61% are worried about not having enough money in retirement.
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An Increase Is Coming Soon
For those hoping to see an increase to their own Social Security checks, the current projected COLA for 2026 is 2.7%, according to The Senior Citizens League. So, that could provide a bit of relief. A 2.7% increase over the estimated $2,015.99 average benefit this fall would result in an average monthly benefit of $2,070.42.
The COLA rate is typically announced in October, with the higher amounts usually coming in January. However, COLA reflects inflation, so that higher benefit amount doesn’t necessarily mean seniors’ money will go further.
One other form of relief could be that for tax years 2025 through 2028, those ages 65 or older can deduct an extra $6,000 per year ($12,000 if married filing jointly) from their taxes. That could provide a few extra thousand dollars per year in spending money.
Yet while the new tax deduction is meant to serve the role of reducing or removing taxes on Social Security, lower-income individuals might not benefit, because their taxable income might be low enough already, to the point where they do not pay income taxes. Thus, an extra deduction would not provide relief.
Still, if you’re not retired yet, the more you can save and invest, the easier retirement will likely be. And if you are retired, consider side gig strategies such as doing some freelance work or selling items around your home for a little extra spending money.
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This article originally appeared on GOBankingRates.com: Here’s What the Average Social Security Payment Will Be in Fall 2025