Aiexpress – The Social Security Administration (SSA) has confirmed that retirement benefit payments for January 2025 will start being distributed this week, with three separate payments set for the month. However, they won’t all arrive on the same day. In line with the usual distribution schedule, the payments will be spread across the second, third, and fourth Wednesdays of the month.
The first payment will be sent out on January 8, followed by a second payment on January 15 and a final one on January 22. The dates are based on beneficiaries’ birth dates, which group them into different categories:
- Those born between the 1st and 10th of each month will receive their payment on Wednesday, January 8.
- Those born between the 11th and 20th will receive their payment on January 15.
- Finally, those born between the 21st and 31st will collect their check on January 22.
Social Security Payment Amounts for 2025
The amount each beneficiary will receive varies, as it depends on several factors such as retirement age and lifetime earnings. In 2025, the maximum Social Security benefit for those who reach full retirement age (FRA) is $4,018 per month. Full retirement age is determined by the year of birth and marks the point at which an individual can begin receiving Social Security benefits without a reduction in payment.
For those who retire at age 62, which is the earliest age at which Social Security benefits can be claimed, the maximum monthly benefit is $2,831. However, this amount is reduced due to what’s known as an “anticipation adjustment,” which decreases the benefit for each month a person claims benefits before reaching their full retirement age. For instance, retiring at 62 could result in a reduction of up to 30% compared to the full benefit.
Is It Better to Wait Until Age 70 to Retire?
For those who can afford to delay retirement, waiting until age 70 offers a significantly higher monthly benefit. Individuals who choose to start receiving Social Security at age 70 can maximize their benefit to $5,108 per month. This increase is due to “delayed retirement credits,” which boost the monthly benefit for each additional month a person waits beyond full retirement age.
Additional Social Security Changes for 2025
Starting in January, all Social Security beneficiaries will receive a 2.5% cost-of-living adjustment (COLA) on their checks, aimed at helping to keep pace with inflation. Other notable changes for 2025 include:
- An increase in the wage limit for Social Security taxes, now set at $176,100.
- An increase in the earnings limit for workers under full retirement age, now rising to $23,400.
- To earn one Social Security credit in 2025, individuals will need to have a wage or self-employment income of $1,810.
As these changes take effect, it’s important for beneficiaries to plan accordingly, especially when deciding when to begin receiving their Social Security benefits.
