A new Social Security payment will be issued this Wednesday, with a special class of recipients receiving large monthly payments of thousands.
The Social Security Administration operates on a formal schedule, making payments on four different dates each month. The date will be based on both the duration of time a recipient has been receiving payments and his or her birth date. Retirees with birthdays between the first ten days of any given month will have their benefits released on the second Wednesday. Recipients with birthdays between the 11th and the 20th will have their deposits released on the third Wednesday, with recipients born between the 21st and the 31st having their payments released on the fourth Wednesday.
A special exception is made for retirees who have been enrolled in the Social Security program since at least May of 1997—these recipients have their payments released on the third day of each month. Supplemental Security Income (SSI) recipients have their payments released on the first day of each month, ensuring they receive their financial assistance in a timely manner.
Higher Payments for Millions Under Legislative Changes
For those who opt to take Social Security when they reach the program’s full retirement age—67 years—the highest possible monthly payout is $4,018. However, Americans are given the option of taking their benefits earlier, although this will mean lower monthly payouts. The lowest age at which one can begin taking Social Security is 62, at which point the highest monthly payout is $2,831.
Meanwhile, those who delay retirement until age 70 receive much greater payments, with the maximum monthly benefit amounting to a staggering $5,108. The system of rewards is intended to provide incentives for longer attachment to the workforce so that retirees have a greater financial safety net in later years.
How Social Security Benefits Are Calculated
The amount a beneficiary can receive is calculated based on a careful examination of their lifetime income and the aggregate amount of time they have worked and contributed to Social Security through payroll taxes. To qualify for benefits, an individual must have worked and contributed to the system for at least 10 years.
Benefits are adjusted for inflation annually, paid out through what is known as the Cost-of-Living Adjustment (COLA). In 2025, this yearly adjustment resulted in a 2.5% increase in Social Security payments, allowing retirees to preserve their purchasing power amid economic uncertainty.
Notably, the 2025 2.5% COLA is the smallest increase since 2021, a direct reflection of the gradual deceleration of inflation after its record four-decade peak in 2022. Though this slowdown, consumer prices remain high, testing family budgets, highlighting the importance of Social Security in assisting to preserve financial stability for millions of retirees.
This article was originally published on foxbusiness. Read the original article.
FAQs
When will I have my Social Security payment deposited this month?
Your deposit date is based on your birth date and whether you receive SSI or early benefits. Payments are made on Wednesdays according to the SSA schedule.
Can I change my Social Security payment method?
Yes, you can change from receiving a check in the mail to direct deposit or vice versa by adjusting your preferences at SSA.gov or by calling the SSA.
What happens if I misplace a payment?
If you lose your payment, review your banking information and contact the SSA for assistance. Payment errors are normally corrected immediately.
How is my Social Security payment computed?
Your payment is determined based on lifetime wages, age of retirement, and COLA raises.
Will Social Security payments rise in the future?
COLA raises applied every year are meant to raise payments due to inflation, although precise amounts differ yearly.