The Social Security Administration (SSA) is set to issue its next round of retirement payments in May 2025, with some beneficiaries receiving up to $5,180. These payments reflect the latest Cost of Living Adjustment (COLA) and are tailored based on retirement age and individual work history.
Millions of Americans Rely on Social Security
The SSA supports over 69 million individuals, with retirees and their dependents accounting for nearly 78.5% of total benefits distributed in 2024. In addition to retirement benefits, SSA provides financial assistance through the Social Security Disability Insurance (SSDI) program and Supplemental Security Income (SSI) for those with limited income and resources.
May 14 Payment Date for Eligible Recipients
The next scheduled SSA retirement payment will be credited to eligible beneficiaries on May 14, 2025. This group includes individuals whose birth dates fall between the 1st and 10th of any month. The average payment for this group is approximately $4,108, reflecting the most recent COLA adjustment.
How Retirement Age Affects Your Monthly Payment
The amount retirees receive varies significantly depending on when they chose to begin collecting benefits:
- Early retirees (age 62): Can receive a maximum of $2,777 per month.
- Full retirement age (67): Eligible for up to $4,018 monthly.
- Delayed retirement (age 70): Can receive the highest amount—up to $5,180 per month.
- Average individual retiree payment: $1,976.
- Average payment for a retired couple: $3,089.
Those who wait until age 70 to retire and contribute the maximum allowable throughout their working lives will receive the highest benefits.
Nearly All Seniors Receive Social Security
Social Security remains a critical source of income for older Americans. Nearly 90% of people aged 65 and older receive monthly Social Security benefits, helping to cover essential living expenses during retirement.
SSI Beneficiaries Also Receive Payments in May
On May 14, the SSA will also deposit funds for eligible SSI beneficiaries, in accordance with the agency’s annual payment calendar. There are two secure options for receiving SSI payments:
- Direct deposit into a bank account – the fastest and safest method.
- Direct Express debit card – funds are loaded automatically each month.
Beneficiaries who wish to enroll in the Direct Express program can do so by calling the U.S. Treasury Department at 1-800-333-1795 or registering online.
