We here lots of talk about the huge cost of the so-called entitlements. What’s rarely discussed is the value of benefits Social Security pays individuals.
Before diving into the numbers, I want to remind you that the federal poverty level for an individual in 2017 is $12,060. The below numbers come from the last statistical update released by the Social Security Administration. It was published in May of 2017. The calculations of annual benefits were done by me. If the math is wrong, don’t blame the government.
The average recipient of Social Security benefits gets a monthly check of $1,252.84. This means the average beneficiary gets a monthly check that’s barely enough to keep them out of poverty.
| Type of Beneficiary | Average Monthly Benefit | Average Annual Benefit |
|---|---|---|
| retirement benefits | $1,322.13 | $15,865.56 |
| retired workers | $1,367.58 | $16,410.96 |
| disability insurance | $1,032.47 | 12,384 |
| disabled workers | $1,171.65 | $14,059.8 |