If you are waiting for your Social Security deposit, this is an important week. It turns out that the payments are distributed based on each individual’s date of birth.
For example, if your birthday falls between the 11th and 20th of any month, your payment will arrive on Wednesday, February 19. Of course, if you’ve been collecting since before May 1997, your payment should have arrived at the beginning of the month.
Not everyone receives the maximum amount, but if you delay retirement until age 70, you could earn up to $5,108 per month. Of course, that is determined by your lifetime income. Most retirees receive an average of $1,876.95, so don’t set your expectations too high.
How are these Social Security payments calculated?
It all depends on a variety of factors, including the age at which you begin contributing and your earnings during your working years. For example, if you retire at age 67 (full retirement age), the maximum amount you can receive is $4,018. However, if you retire at age 62, the amount drops to $2,831.
Furthermore, since 2025, benefits have increased by 2.5% due to the Cost of Living Adjustment (COLA), which aims to compensate for inflation. Although it is not the largest increase in recent years, it provides relief for millions of people.
Why was the increase so low this year?
According to Mary Johnson, an analyst specialising in Social Security and Medicare, the 2025 COLA is the lowest since 2021, but it still provides relief from high prices for housing, food, and insurance.
Martin O’Malley, former Social Security commissioner, stated that this increase will help millions of people cover their basic expenses.
Prices for goods and services rose less than in previous years, such as 2023 and 2024, when COLA adjustments were 8.7% and 3.2%, respectively, indicating that inflation slowed in Joe Biden’s final year.
However, it remains to be seen whether Social Security benefits will need to be increased more dramatically after the first year of Donald Trump’s second term.
What happens if my Social Security payment did not arrive on time?
Call 1-800-772-1213 (Monday-Friday, 8 a.m.-7 p.m.). If you prefer not to call, you can send a message or check the status of your payment on their official website (ssa.gov). Many questions can be answered right away without the need to speak with anyone.
Another option is to go to your local SSA office, but I recommend making an appointment ahead of time to avoid long lines. Don’t be left wondering, because they’re here to help you.
