The average Social Security checks the year you were born

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NoDerog / Getty Images / iStockphoto

NoDerog / Getty Images / iStockphoto

Social security has long been a cornerstone of American democracy. However, it has also undergone some dramatic changes in the more than 80 years since its passage. While the core program remains unchanged – using current payroll taxes to provide cash payments to retirees – it has gradually become more and more connected with American society over the years and has grown to the tremendous benefit you see today .

But how much have those benefits been worth? The truth is, the Social Security checks your great-grandparents may have received in the 1950s were much smaller. Even when inflation is taken into account, benefits have tripled over the past 70 years.

So here’s a look at how benefits have changed over the decades, should there be some valuable lessons from Social Security past to tell us what to expect from the future.

Exclusive: Americans’ savings are falling to its lowest point in years

1950

1951

1952

1953

1954

1955

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1956

1957

Beware: 11 Social Security Mistakes That Could Cost You a Fortune

1958

1959

1960

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1961

1962

1963

1964

1965

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1966

1967

1968

1969

1970

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1971

1972

  • Average Monthly Social Security Payment That Year: $ 162.35

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,003.94

1973

1974

1975

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1976

  • Average Monthly Social Security Payment That Year: $ 224.86

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,020.34

1977

  • Average Monthly Social Security Payment That Year: $ 243.00

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,032.16

1978

  • Average Monthly Social Security Payment That Year: $ 263.20

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,037.98

1979

  • Average Monthly Social Security Payment That Year: $ 294.30

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,043.14

1980

  • Average Monthly Social Security Payment That Year: $ 341.40

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,069.61

Think about it: never got your incentive check? Claim it on your taxes

1981

  • Average Monthly Social Security Payment That Year: $ 385.97

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,091.76

1982

  • Average Monthly Social Security Payment That Year: $ 419.30

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,114.27

1983

  • Average Monthly Social Security Payment That Year: $ 440.77

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,143.18

1984

  • Average Monthly Social Security Payment That Year: $ 460.57

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,146.34

1985

  • Average Monthly Social Security Payment That Year: $ 478.62

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,150.38

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1986

  • Average Monthly Social Security Payment That Year: $ 488.44

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,155.76

1987

  • Average Monthly Social Security Payment That Year: $ 512.65

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,167.21

1988

  • Average Monthly Social Security Payment That Year: $ 536.77

  • Average monthly Social Security payment in dollars for 2020: $ 1,173.65

1989

  • Average Monthly Social Security Payment That Year: $ 566.85

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,180.64

1990

  • Average Monthly Social Security Payment That Year: $ 602.56

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,197.27

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1991

  • Average Monthly Social Security Payment That Year: $ 629.32

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,197.19

1992

  • Average Monthly Social Security Payment That Year: $ 652.64

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,203.56

1993

  • Average Monthly Social Security Payment That Year: $ 674.06

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,209.48

1994

  • Average Monthly Social Security Payment That Year: $ 697.34

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,217.53

1995

  • Average Monthly Social Security Payment That Year: $ 719.80

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,222.96

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1996

  • Average Monthly Social Security Payment That Year: $ 744.96

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,229.43

1997

  • Average Monthly Social Security Payment That Year: $ 774.84

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,250.85

1998

  • Average Monthly Social Security Payment That Year: $ 779.69

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,237.86

1999

  • Average Monthly Social Security Payment That Year: $ 804.30

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,250.12

2000

  • Average Monthly Social Security Payment That Year: $ 844.48

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,266.24

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2001

  • Average Monthly Social Security Payment That Year: $ 874.44

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,276.44

2002

  • Average Monthly Social Security Payment That Year: $ 895.00

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,287.59

2003

  • Average Monthly Social Security Payment That Year: $ 922.08

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,299.14

2004

  • Average Monthly Social Security Payment That Year: $ 954.89

  • Average monthly Social Security payment in dollars for 2020: $ 1,306.30

2005

  • Average Monthly Social Security Payment That Year: $ 1,002.00

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,328.66

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2006

  • Average Monthly Social Security Payment That Year: $ 1,044.40

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,329.75

2007

  • Average Monthly Social Security Payment That Year: $ 1,078.60

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,341.66

2008

  • Average Monthly Social Security Payment That Year: $ 1,152.90

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,358.03

2009

  • Average Monthly Social Security Payment That Year: $ 1,164.30

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,400.84

2010

  • Average Monthly Social Security Payment That Year: $ 1,175.50

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,397.05

Take a look: the rich cost social security billions a year

2011

  • Average Monthly Social Security Payment That Year: $ 1,228.57

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,409.00

2012

  • Average Monthly Social Security Payment That Year: $ 1,261.61

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,426.79

2013

  • Average Monthly Social Security Payment That Year: $ 1,293.83

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,435.10

2014

  • Average Monthly Social Security Payment That Year: $ 1,328.58

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,444.85

2015

  • Average Monthly Social Security Payment That Year: $ 1,341.77

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,456.73

2016

  • Average Monthly Social Security Payment That Year: $ 1,360.13

  • Average monthly Social Security payment in dollars for 2020: $ 1,464.55

2017

  • Average Monthly Social Security Payment That Year: $ 1,404.15

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,486.26

2018

  • Average Monthly Social Security Payment That Year: $ 1,461.31

  • Average Monthly Social Security Payment in Dollars for 2020: $ 1,502.45

2019

2020

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Methodology: GOBankingRates used the Social Security Administration (SSA) “Annual Statistical Supplement, 2019” to find the average social security check in the year you were born. Using this report, GOBankingRates referred to Table 3. C4 – Average Monthly Amount of Social Security (OASDI) to find: (1) Average monthly Social Security payment for retired employees (amount at the time), then used the Bureau of Labor Statistics CPI inflation calculator to find the (2) average monthly Social Security payment for retired workers (2020 dollars) for the 1950s through 2018. GOBankingRates then used the SSA’s Beneficiary Data portal to calculate the average monthly benefit amount for retired employees for 2019 and 2020 in current dollars. All data was collected on and updated as of February 1, 2021.

Last updated: February 16, 2021

This article originally appeared on GOBankingRates.com: The Average Social Security Check the Year You Were Born

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