This Is the Maximum Social Security Retirement Benefit Payable in 2018
The average Social Security benefit currently being paid out to a retired worker is about $1,372 per month, or $16,464 per year. However, many Americans who have earned relatively high salaries throughout their careers get much more. In fact, the maximum possible Social Security benefit that can be paid in 2018 is more than twice this amount -- and that's before the increase seniors can get for waiting to claim.
The calculation of a worker's Social Security retirement benefit is a two-part process. First, the worker's primary insurance amount, or PIA, is determined. This is the monthly benefit an individual would receive if he or she chooses to start collecting their Social Security retirement benefit at their full, or normal, retirement age.
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Source: Fool.com
