Social Security’s Maximum Benefit Rises to $4,188 in 2027. Here’s What It Takes to Get It
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There’s a reason living on Social Security alone can be difficult. The average retiree today only collects about $2,088 per month. On an annual basis, that’s around $25,000 in benefits.
But some Social Security recipients get a lot more money than that. In fact, Social Security’s maximum benefit in 2027 is a pretty generous sum. But not everyone can get it. In fact, for most seniors, Social Security’s maximum benefit is out of reach for one key reason.
Some seniors get to collect $4,188 per month in 2027
Social Security’s maximum benefit at full retirement age (FRA) is $4,188 in 2027. On an annual basis, that’s a little more than $50,000. But most seniors don’t receive Social Security’s maximum benefit because their lifetime wages aren’t high enough to qualify.
To get Social Security’s maximum retirement benefit at FRA, you need to not sign up early, have a 35-year work history, and earn the equivalent of the wage cap or more for 35 years. The wage cap is the annual limit that determines how much earnings are subject to Social Security tax.
Social Security’s wage cap has increased steadily through the years. But it’s always been a very large number compared to the typical wage.
In 2026, for example, the Social Security wage cap is $184,500. In 2027, it’s increasing to $192,300. Earnings beyond the wage cap are exempt from Social Security taxes, but they also don’t count toward recipients’ benefits.
Meanwhile, the typical worker today collects a median wage of about $65,000 per year. Someone who earns a median wage their entire life might qualify for Social Security’s average retirement benefit once they’re older. But it’s only high earners who will be able to get Social Security’s maximum benefit.
How to boost your Social Security checks
If your wages won’t render you eligible for the maximum Social Security benefit in retirement, that doesn’t mean you have to settle for a monthly check you aren’t happy with. There are steps you can take to get more Social Security even if you aren’t able to earn a salary that’s close to $200,000.
For one thing, try to boost your wages when you can. That could mean picking up more overtime shifts or supplementing your salary with gig work. Freelance income counts toward your future Social Security benefits as long as you report and pay taxes on it, which is a legal requirement.
In addition, you don’t have to sign up for Social Security once you reach FRA. For each year you delay your claim, until you turn 70, your benefits get a permanent 8% boost. This means that if you’re in line for Social Security’s average $2,088 benefit at FRA, waiting three more years increases your monthly checks to $2,589.
And remember, even if you’re eligible for a larger Social Security benefit, your goal shouldn’t be to retire on those payments alone. It’s important to have income to supplement your monthly checks, so make sure to prioritize retirement plan contributions as you work to boost your benefits. That combination could lead to a retirement that’s not just financially stable, but quite comfortable.
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Maurie Backman has more than a decade of experience writing about financial topics, including retirement, investing, Social Security, and real estate. Her work has appeared on sites that include The Motley Fool, USA Today, U.S. News & World Report, The Washington Post, and Kiplinger.
Prior to becoming a full-time financial writer, Maurie worked in the financial industry trading distressed debt. She then changed course and spent a few years designing electronic toys. After a stint in content marketing and UX, she shifted back into writing and has since covered everything from the housing market to estate planning to Medicare.
When she's not busy writing, Maurie can be found hiking, walking her dogs, driving her kids to their various sports practices and games, and curling up with a good book. She cooks on occasion and bakes way too often.
