On average, how much longer are Social Security beneficiaries living beyond their full retirement age than they were when the program began paying benefits in 1940?
When Social Security began paying benefits in 1940, the average 65-year-old male had a period life expectancy of 11.9 years. By 2013, this figure increased to 18 years, while the full retirement age increased by one year. This amounts to a 43% increase in the time spent collecting old-age benefits. The analogous figure for females is 45%.