When it comes to managing your life as a retiree, you’ll need to keep abreast of the yearly Social Security tweaks and adjust your budget accordingly. This includes not only the amount you'll receive but also when benefit payments are distributed. This schedule varies from pers🐲on to person.

To help you keep track of your Social Security benefits, Investopedia has put together a 澳洲幸运5官方开奖结果体彩网:Social Security benefits paymen🉐t schedule for 2025🤡, which can be found below.

How Social Security Payments Work

Social Security, officially known as the Old Age, Survivors, and Disabilityꦆ Insurance (OA🍰SDI) program, provides monthly monetary benefits to qualified workers and their 澳洲幸运5官方开奖结果体彩网:dependents. Employees, employers, and the self-employed finance these benefits with their 澳洲幸运5官方开奖结果体彩网:Social Security taxes, which are then put into two 澳洲幸运5官方开奖结果体彩网:Social Security trust funds. Eligibility and benefit amounts are based on an individual’s contributions to Social Security and work history (or that of their spouse/parent(s)).

The 🥀澳洲幸运5官方开奖结果体彩网:Social Security Administration (SSA) offers three types of Social Security benefits.

Retirement

This is the best-known type of Social Security benefits. It's available to individuals age 62 or older who have worked a minimum of 10 years. The amount someone receives in retirement benefits is dependent on their pre-retirement salary and the age at which they begin collecting benefits.

A retiree’s spouse (whether currently married or divorced) may also be eligible for Social Security retirement benefits, regardless of whether or not they have paid into the program.

Disability

People who are unable to work due to a disability are eligible for Social Security Disability Insurance (SSDI) benefits as long as they have worked a certain number of years beforehand. The amount of work required varies based on an individual’s age, while the monthly payment depends on their pre-disability salary.

Like retirement benefits, SSDI also may be available for a beneficiary’s spouse (whether current or former).

Survivor

Survivor benefits are typically available for:

• Surviving spouses
• Qualifying divorced spouses
• Children of a deceased worker/retiree

The benefit amount varies based on the worker’s salary and age at death, in addition to the survivor’s age and relation to the deceased individual. An additional 澳洲幸运5官方开奖结果体彩网:death benefit is also available: it's a one-time payment of $255 that is distributed to the spouse or children of a 澳洲幸运5官方开奖结果体彩网:deceased retiree.

Supplemental Security Income

There is a fourth kind of benefit made available by the SSA, though it isn’t part of Social Security. Financed by general tax revenues, 澳洲幸运5官方开奖结果体彩网:Supplemental Security Income (SSI) is a needs-based program designed to help those with 澳洲幸运5官方开奖结果体彩网:limited income and resources who are unable to earn sufficient wages on their own.

Adults and children with disabilities, as well as individuals age 65 or older, are eligible to receive SSI benefits. The amount beneficiaries are given depends on federal and state laws, which take into account their place of residence, who lives with them, and their other sources of income. No work credits are required, and those with enough work history may be eligible for both SSI and Social Security benefits.

Social Security Payment Schedule for 2025

Among Americans age 65 or older, 40% reside in households where Social Security benefits account for at least half of their income, while 1 out of 7 depend on their monthly payment for at least 90% of their income. As such, it’s important for retirees to be aware of when they will receive their benefits. While this is especially crucial to the 0.7% of beneficiaries who need to be on the lookout for a physical check each month, the remaining 99.3% still ought to know when their Social Security income is being 澳洲幸运5官方开奖结果体彩网:directly deposited into their account to ensure that they aren’t spending more money than they actually have.

Social Security retirement, disability, and survivor benefits are diꦍstributed on one of th🍸ree Wednesdays each month for beneficiaries who began receiving benefits after May 1997. When a beneficiary receives their payments depends on their birthday, as described below:

• If your birthday is between the 1st and the 10th, you will receive your Social Security payments on the second Wednesday of each month.
• If your birthday is between the 11th and the 20th, you will receive your Social Security payments on the third Wednesday of each month.
• If your birthday is between the 21st and the 31st, you will receive your Social Security payments on the fourth Wednesday of each month.

SSI benefit payments follow a different schedule. Specifically, SSI benefits are distributed on the first of each month. Should the first of the month fall on a weekend, then the new payment date will be the last Friday of the prior month.

Exceptions to the Payment Schedule

There are several cases where the default payment schedule isn’t followed, and Social 𝓰Security benefits are paid at a different time. The current exceptions include:

• Payment to children or spouses who receive benefits based on someone else’s work record will be paid on the same day as that primary beneficiary.
• Individuals who receive both Social Security benefits and SSI will receive Social Security on the 3rd and SSI on the 1st.
• Individuals whose payment date falls on a federal holiday or weekend will be paid on the weekday immediately prior.

In addition, Social Security payments will automatically be issued on the 3rd of each month𓂃 to 💮individuals who:

• Filed for benefits before May 1, 1997

or

• Also receive Supplemental Security Income payments

or

• Have their Medicare premiums paid for by the state where they live

or

• Live in a foreign country

Getting Your Payments

Socᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚial Security benefits are now issued almost entirely electronically. Individuals receiving benefits have a few digital options.

First, Social Security benefits can be distributed via direct deposit. Individuals can visit their local branch or contact their Social Security office to sign up. Individuals should be prepared to present their Social Security number, their financial institution’s 澳洲幸运5官方开奖结果体彩网:routing number, their 澳洲幸运5官方开奖结果体彩网:account number, and their account type (checking or savings).

Social Security benefits can also be awarded via a Direct Express card. A Direct Express card is a debit card that can be used to access benefits without the use of a bank account. Monthly benefits are deposited directly to the card, and individuals can use the card to make purchases. The Direct Express card can also be used at ATMs, banks, or credit unions to get cash.

Late Social Security Payments

For several reasons, Social Security payments may sometimes be lಌate. Those reasons can include but are not limited to:

• Delays for initial Social Security benefits
• Process slowdowns at the SSA
• Updates to your personal information, such as your mailing address
• Changes to your payment information, such as a new 澳洲幸运5官方开奖结果体彩网:checking account
• Inclement or severe weather

🐟 If your Social Security payment is late, contact the SSA immediately. For delays potentially caused by changes in your personal in🍒formation, contact your local SSA office.

The SSA periodically issues notices of delays that collectively impact a region or a number of individuals. Be sure to check SSA's media channels.

Cost-of-Living Adjustments

Social Security benefit rates rise in tandem with the cost of living, as measured by the U.S. Department of Labor’s 澳洲幸运5官方开奖结果体彩网:Consumer Price Index (CPI-W). This index is boosted by increased 澳洲幸运5官方开奖结果体彩网:inflation rates that raise the cost of goods and services. To offset these costs and ensure that the 澳洲幸运5官方开奖结果体彩网:purchasing power of Social Security benefits isn’t eroded by inflation, the SSA will issue what’s known as a 澳洲幸运5官方开奖结果体彩网:cost-of-living adjustment (COLA).

According to a formula outlined in the 澳洲幸运5官方开奖结果体彩网:Social Security Act, COLAs are based on increases in the CPI-W. Specifically, a COLA is equal to the percentage increase in the CPI-W from the average for the current year’s third quarter to the average for Q3 of the prior year in which a COLA was enacted. Increases must be rounded to the nearest tenth of 1%. Should there be no increase, or if the end result rounds to zero, no COLA is issued for that year.

What Beneficiaries Can Expect in 2025

In October 2024, the SSA announced its annual changes for 2025. More than 72.5 million Americans will receive a 2.5.% COLA increase to their benefits beginning in January 2025. This is again a lower amount than the previous year due to a lower level of inflat🥃ion.

The SSA estimates that the average retirement benefit will increase by $50 per month. This will raise the average retirement benefit to $1,976 per month in 2025. The average retirement benefit for couples will increase to $3,089 per month. Average benefits for surviving spouses will increase to $1,832 per month. Widowed mothers with a minimum of two children will receive an average monthly benefit of $3,761 in 2025.

Disability benefit payments will also increase with the 2025 COLA. The average benefit for all disabled workers in 2025 will rise to $1,580 per month. Monthly benefits for disabled workers with a spouse and one or more children will increase to $2,826.

Other changes in 2025 will include:

• The maximum amount of earnings subject t♔o the Social Security tax will increase from $168,600 to $176,100.
• The earnings 澳洲幸运5官方开奖结果体彩网:li♒mit for workers receiving benefits who are younger than their full retirement age in 2025 will increase from $22,320 to $23,400. Recipients will have $1 of benefits deducted for every $2 earned above this limit.
• The earnings limit for still-employed beneficiaries who reach their full retirement age in 2025 will increase from $59,520 to $62,160. Recipients will have $1 of benefits deducted for every $3 earned above this limit until the month they reach their full retirement age.

The Bottom Line

When it comes to Social Security, there are many rules to be mindful of. Even minor mistakes can have a noticeable impact on your life in retirement—for example, you might accidentally 澳洲幸运5官方开奖结果体彩网:overdraw your account because you thought your monthly Social Security benefits had already been deposited. It might be a good idea to mark the payment dates for the year ♔in your calendar to make sure you know when your Social Security benefits will be arriving.