That depends on earnings.
SSA provides standardized examples (wage-indexed career averages, retiring at FRA):
• Low earnings (~$31k average): ~57% replacement.
• Medium earnings (~$69k average): ~43% replacement.
• High earnings (~$111k average): ~35% replacement.
The Social Security benefit formula is designed to prove a higher proportional benefit to lower earning workers.
For 2026, Social Security formula (called bend points) are $1,286 and $7,749.
They divide your Average Indexed Monthly Earnings into three parts:
Your benefits is…
90% of the first $1,286,
32% of the amount from $1,286 to $7,749, and
15% above $7,749.
Lower income workers pay the least in absolute taxes, but receive the most in relative benefits to earnings replacement.
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