This week, millions of people receiving Social Security will get their first retirement checks for 2025. This event is important for many people’s finances because regular payments play a key role in how retirees plan their money and manage their monthly expenses.
Social Security payments are made on a monthly schedule in three groups. This system makes payment management easy to understand and well-organized for everyone who receives payments. Payments are shared fairly, providing a reliable income for those who rely on it.
Social Security payments continue this week
Payments started on January 8 for people born from January 1 to January 10. Then, Social Security beneficiaries born between the 11th and 20th of their respective birth month will receive their regular monthly payment for January on January 15. The third and final wave of payments will be sent on January 22 to those born between January 21 and 31.
On January 31, there will be an advanced payment for those beneficiaries receiving Supplemental Security Income (SSI). These payments are usually made on the first day of each month, unless that day is a weekend or a holiday.
Here’s the situation: Since February 1 is a Saturday, the Social Security Administration (SSA) will schedule things for the previous work day, which is January 31.
How Social Security payments are determined
Social Security payments are based on how much money a person has earned during their working life. These payments are not limited by current income, so each check shows what the recipient earned in the past. This setup lets payments be changed based on each person’s work and input to the system.
People can start getting Social Security payments at age 62, but if they wait until they are older, they may get a much higher amount. For example, people who retire at age 67 can get up to $4,018 each month, while those who retire at age 62 can receive a maximum of $2,831.
People who wait until they are 70 to retire can receive the highest monthly benefit of $5,108, according to the Social Security Administration.
What to do if payment does not arrive on time
If a beneficiary does not get their expected payment, it is important to take action quickly. It is a good idea to check your bank account to make sure the payment has not been deposited.
If you can not find the check, it is recommended to contact the Social Security Service at 1-800-772-1213 for help.
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