Good news for some seniors! Eligible Social Security recipients will get their next monthly payment on time. According to the Administration’s payment schedule, it will be delivered on March 19 and no delays are expected.
In general, you should wait for three business days to report a missing payment. However, if it happens it may be because your financial institution or bank did not have enough time to process your payment. It will be unlikely though. After 3 mailing days, you can call Social Security to claim your money if your bank told you they did not receive it.
Social Security payment eligibility
Only eligible retirees will collect the March 19 payment from the Administration. This payday will not be for those on Social Security before May 1997. Besides, it will not be your payday either if you are currently receiving Supplemental Security Income payments.
To be eligible, you must have started collecting retirement benefits after April 30, 1997. Besides, your birth date must be from the 11th to the 20th, regardless of the year or month.
Those who have not filed and received SSA‘s approval do not qualify. The exact amount of your payment will depend on your background. There are no fixed amounts.
Social Security payments of $1,978
As of January 2025, the average retirement benefit payment is worth $1,978. Thanks to the COLA increase for 2025, payments are 2.5% higher if compared to the 2024 payment amounts.
The maximum benefit at the age of 62 is $2,831 in 2025. If you decide to file at Full Retirement Age in 2025, 66 years and 10 months old, you can receive up to $4,018.
Only those who have filed at 70, worked for 35 years in jobs covered by Social Security and whose earnings were the taxable maximum or higher all those years, can receive up to $5,108. Before you file for retirement benefits, make sure you know can afford to retire so check your Statement carefully.
