Every month the Social Security Administration (SSA) pays retirement benefits to millions of seniors across the country so they can keep up with inflation and meet their monthly living expenses. To qualify for retirement benefits, retirees must first meet certain requirements, such as receiving Social Security benefits at full retirement age, building an appropriate employment history and contributing to the system while working. Because the government agency must pay benefits to more than 71 million seniors in the United States, it has established a Social Security payment schedule to ensure that all beneficiaries receive their benefits on time. Under this plan, qualified retirees born between the ages of 11 and 20 will receive a new Social Security check within hours.

Retirees will receive a new social security benefit today

After the Social Security Administration confirmed the new cost of living adjustment (COLA) before 2025, retirees will finally find out how much their Social Security benefits increased from January 2025. In general, retired workers receive an average Social Security benefit of $1,900 per month, but other payment amounts are available. For example, retirees who filed for benefits before full retirement age or upon reaching age 62 can qualify for up to $2,710 per month, while those who waited until age 67 can expect to receive up to $3,822.

Furthermore, there is also a group of retirees who are eligible for the maximum benefit of $4,873 per month. However, to receive their Social Security benefits, they must first meet strict requirements and have filed for benefits until they are 70 years old. In addition to these different payment amounts, retirees and other beneficiaries, such as survivors, disabled people and benefit recipients, can Supplemental Security Income (SSI) program, will also receive another increase in their checks starting in January 2025 due to this year’s cost of living adjustment. Based on the 2.5% COLA increase, Social Security beneficiaries will receive the following payment amounts:

It is important to remember that depending on their maximum taxable salary, retirees must have made a contribution Social security for at least 35 years to receive their full pension. Otherwise, they may not qualify for the full reward even if they wait to claim the benefits. To increase your chances of qualifying for this Social Security benefit, we recommend that you speak with a financial advisor or an SSA agent, as claiming the $4,873 check may be challenging.

When will retirees receive their Social Security benefits in October?

Despite the 2.5% COLA increase being confirmed, beneficiaries will continue to receive their regular payments through the end of the year. For this reason and according to the Social security payment scheduleretirees who filed for their first Social Security benefit after May 1997 will receive their monthly benefit in October, under the following conditions:

• On the 2nd Wednesday of the month, or October 9. On this day, the SSA sends out the monthly payment for all retirees born between the 1st and the 10th.
• On the 2nd Wednesday of the month, or October 16. On this day, the SSA sends out the monthly payment for all retirees born between the ages of 11 and 20.
• On the 2nd Wednesday of the month, or October 23. On this day, the SSA sends out the monthly payment for all retirees born between the ages of 21 and 31.