This month’s first Social Security deposits are already credited to the bank accounts of the first group of beneficiaries. If you have a birthday between the 1st and 10th of any month, check your account because the money arrived on Wednesday, February 12.
Then, there are two more Social Security payments you could receive if you’re not in the first group. If you did not receive payment on the 12th, schedule February 19 and 26 (next payment rounds). The 19th is the day for those who have a birthday between the 11th and the 20th of any month, and the 26th is for those who have a birthday after February 21st.
What’s coming in 2025: Adjustments and challenges for Social Security
Mary Jenkins, an independent analyst, assured that 2025 will not be a year in which retirement funds and other benefits such as disability benefits (SSDI) or Supplemental Security Income (SSI) are at risk: “The 2.5% COLA will be the lowest since 2021, but it still helps to deal with high prices in housing, insurance or services.” Although it is not the big party, it is something. Of course, former commissioner Martin O’Malley recalls that “this will help millions to stay afloat even if inflation drops.”
For its part, the AARP is in guardian mode. Bill Sweeney, its vice president, says that they met with the government and assured them that the payments remain secure. “We have been working with all governments for 65 years, without flags. We trust in those promises,” he says. Basically: no one will touch what belongs to you.
The COLA increase is not a gift, but a mandatory adjustment for inflation. In 2025 it will rise less because the official numbers (2.5%) say that life is “less expensive.” But be careful: Jenkins warns that “meat, insurance and repairs continue to have a strong impact on domestic economies.”
For those just starting out: Social Security basics
If you are 62 and have completed 10 years of contributions, you can apply now! But think twice: retiring early reduces your permanent check. The smart move? If you can wait until you’re 70, your future self will thank you (with extra money).
That is, those who have at least 35 years of good contributions in terms of work credits, and delayed their retirement until age 70, could reach the maximum of $5,108 per month in 2025, an amount that increased with the COLA adjustment, and that will possibly increase next year to keep pace with inflation.
If you are already retired and the money does not appear in your bank account, the SSA asks you to wait three business days (not counting weekends or holidays) before claiming. Reason? Sometimes banks take their time or errors can happen in their electronic systems.
