May still has three more Social Security payments for retirees, survivors, and SSDI recipients. While to get retirement and SSDI benefits, you must have worked and paid enough taxes, you can get survivor benefits on a worker’s record. Bear in mind that SSDI recipients can only receive $1,581 on average. However, retirees receive a lot more.
The main reason why retirement benefits are higher than Social Security Disability Insurance is that retirees were able to work longer because they had no disability that prevented them from paying more taxes. Bear in mind that the average payment for retirees is $1,997. In fact, the previous average payment was $1,980. So, there has been an important increase in the average payments.
When can Social Security recipients get $1,997 (on average) in May?
After some retirees received their monthly payments on May 2, there are three remaining Wednesday payments in the U.S. You will not get any of these 3 payments left if you started getting benefits before May 1997, or if you are on Supplemental Security Income benefits. Therefore, if you are not in this situation, you will receive your next direct deposit or check on a Wednesday.
Social Security has confirmed that the 3 payments left in May will take place on:
- May 14: for those retirees born from the 1st to the 10th who got benefits after April 30, 1997
- May 21: for those retirees born from the 11th to the 20th who got benefits after April 30, 1997
- May 28: for those retirees born from the 21st to the 31st who got benefits after April 30, 1997
Can Social Security pay more than $1,997 in May?
It is possible that some eligible recipients collect more than $1,997 from Social Security. However, some retirees may receive a lower amount. Actually, it depends on the earnings you had, the age you filed for benefits and the number of years you worked for.
Of course, if you had a job not covered by SSA for some years, your benefits are also affected and reduced. The largest retirement benefit payment retirees can get in May is $5,108.
This large payment is only possible if you filed at 70, had jobs covered by the Administration, worked, and earned the taxable maximum for 35 years. Filing before the age of 70 means getting less money.
For example, if you file at the age of 62 in 2025, you can only receive up to $2,831. Filing at 62 implies getting a 30% reduction, which can cut your retirement benefit and affect your financial situation.
The moment retirees can get 100 percent of their retirement benefits is when they file for Social Security at Full Retirement Age. So, if you just want what is yours, you can wait to file at Full Retirement Age. So, you will not get a reduction, but no reward from SSA either.