With an estimated 70 million people receiving Social Security benefits, the Social Security Administration (SSA) plays a vital role in providing financial support to retirees, disabled individuals, and their families. The distribution of these payments happens in waves throughout the month, depending on a recipient’s date of birth and the type of benefit they are eligible for.
The second round of September retirement payments will be sent out on Wednesday, September 11. This applies to beneficiaries who have birthdays between the 1st and 10th of any month and started claiming benefits after May 1997. These individuals are part of a staggered payment schedule that ensures Social Security payments are distributed smoothly throughout the month.
The first wave of September payments was actually issued in late August due to the usual payment date, September 1, falling on a weekend. This early payment was for those collecting Supplemental Security Income (SSI) who do not receive retirement benefits. SSI payments are typically sent out at the start of the month, making them the first to be processed.
For claimants receiving both SSI and retirement benefits, their retirement checks were paid on September 3. Later this month, beneficiaries with birthdays between the 11th and 20th of any month will receive their payments on September 18, while those born between the 21st and 31st will be paid on September 25. The SSA advises recipients to wait three business days before contacting them if their payment is delayed.
Payment Amounts Vary by Recipient
The amount each Social Security recipient receives varies based on several factors, including the age at which they began claiming benefits and their earnings during their highest-earning years. For 2024, the maximum monthly benefit is $4,873. However, this maximum only applies to individuals who delayed claiming benefits until age 70.
For those who choose to begin collecting benefits at the earliest possible age of 62, the maximum monthly benefit is $2,710. While these payments are crucial for many retirees, the exact amount one can receive depends heavily on their work history and retirement decisions.
COLA Adjustments and Predictions for 2025
Seniors and Social Security recipients are eagerly awaiting the announcement of the 2025 Cost of Living Adjustment (COLA), which is expected to be released in early October. COLA is determined based on inflation data and is designed to help beneficiaries keep up with rising living costs.
Independent Social Security and Medicare policy analyst Mary Johnson recently shared with Newsweek that she expects seniors to see a 2.6% increase in their monthly payments for 2025. The Senior Citizens League, a nonprofit advocacy group, has predicted a COLA increase of approximately 2.57%, down from their earlier estimate of 2.63%.
These estimates are lower than recent COLA increases. In 2024, benefits rose by 3.2%, and in 2023, there was a historic 8.7% increase, spurred by inflation that followed the COVID-19 pandemic. The cost-of-living adjustments are calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the third quarter of the year.
According to Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, the expected lower COLA for 2025 reflects a sign of easing inflation. “The estimates we’re seeing of COLA for 2025 signal an encouraging sign of cooling inflation,” Beene told Newsweek. “However, many seniors may still feel frustrated, as prices on essential items remain higher than pre-pandemic levels. While it’s progress, it may not be enough for those already struggling with the rising costs.”
For now, Social Security recipients can look forward to their payments arriving as scheduled, helping them maintain financial security in the face of ongoing economic challenges.
