A new round of Social Security payments will be made this week.
Why It Matters
Social Security benefits are paid to more than 70 million Americans on a monthly basis, and help form the bedrock of income for retirees, survivors of deceased claimants and disabled people. Due to the huge number of recipients, not every claimant gets paid their benefits on the same date each month.
What to Know
Retirement payments are issued throughout the month, and are determined by the claimant’s birth date or the length of time they have been receiving benefits.
This week, Social Security beneficiaries with a birthday that falls between the first and 10th of any given day of the month can expect their monthly payment on Wednesday, February 12.
Remember, to claim Social Security benefits, you must:
- Be aged 62 or older, and
- Have worked and paid Social Security taxes for 10 years or more.
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How Much Social Security Can I Get?
Due to the annual Cost of Living Adjustment (COLA), which raises payments on an annual basis to halt the erosion of purchasing power, the Social Security Administration (SSA) confirmed that in 2025 the estimated average retirement benefit will rise by approximately $49 per month, increasing from $1,927 to $1,976.
For retirees who claim benefits at Full Retirement Age—currently set at 67—the maximum monthly payment is $4,018. If you choose to start benefits at the earliest eligible age of 62, the maximum amount would be $2,831. However, delaying retirement until age 70 could increase your maximum monthly benefit to as much as $5,108.
Most retirees, however, do not receive the maximum benefit, as it depends on their lifetime earnings and the number of years you have paid Social Security taxes for.
What People Are Saying
Martin O’Malley, former commissioner of Social Security, said when the increased amount was announced in October: “Social Security benefits and SSI payments will increase in 2025, helping tens of millions of people keep up with expenses even as inflation has started to cool.”
Independent Social Security and Medicare policy analyst Mary Johnson: “The 2025 COLA will be the lowest received by Social Security beneficiaries since 2021, at the same time inflated prices persist on key essentials such as housing, meats, auto insurance, any type of service and repairs. Despite it being the lowest COLA since 2021, a 2.5 percent COLA would be considered about average.”
What’s Next
The next tranche of retirement payments will be made on Wednesday, February 19, followed by another payment the following week on February 26. The SSA recommends waiting three working days before contacting them if your payment does not arrive on the expected date. Federal holidays and weekends are not working days.
