Benefits from Social Security: Final Payment Round for January 2025, Up to $5,108

Benefits from Social Security Final Payment Round for January 2025, Up to $5,108

People with disabilities receiving Social Security (retirement) benefits will receive their payments on January 22, 2025, which is this week.

This will be the third and final round of payments for the month of January, and some beneficiaries may be eligible to receive up to $4,018, the maximum approved by the Social Security Administration (SSA), including the 2.5% cost-of-living adjustment applied this year (valid until December).

Social Security retirement payments are divided into three groups based on the beneficiaries’ dates of birth. The first group, consisting of those born between the first and tenth of each month, receives their payment on the second Wednesday.

The second group, those born between the 11th and the 20th, receives their payment on the third Wednesday, while the third group, those born between the 21st and the 31st, receives their payment on the fourth Wednesday of the month.

There is only one Social Security payment left for beneficiaries in January 2025

The first group received their payments on January 8, followed by the second group on January 15. The third group’s beneficiaries are currently waiting for the next payment, which will be effective on January 22.

Beneficiaries’ Social Security benefits are based on their retirement age, Social Security contributions, and length of employment.

For example, those who retire at age 62 can receive a monthly payment of up to $2,831, whereas those who wait until age 70 can receive up to $5,108 per month.

Social Security Benefits: Last Round of Payments for January 2025 of up to $5,108
Source (Google.com)

The maximum benefits approved by the SSA

To be eligible for the maximum benefit of $5,108 in 2025, applicants must meet certain criteria related to their employment history. First, they must have worked and contributed to the Social Security system for at least 40 quarters, or ten years.

Furthermore, the maximum benefit amount is only available to retirees who reach full retirement age, which is 67 for those born in 1960 or later. If a beneficiary chooses to retire before the specified age, their monthly benefit amount will be reduced.

The amount of each benefit is also calculated based on the income earned while working. In general, higher income over the course of your working career translates into a higher benefit amount.

Upcoming February 2025 payments

The payments for February 2025 are scheduled based on the retirees’ dates of birth. Benefits will be distributed on the second Wednesday of the month, February 12, to those born between the 1st and 10th.

Payments will be made on the third Wednesday of February, for those born between the 11th and the 20th. Finally, on the fourth Wednesday, February 26, payments will be made to retirees born on or after February 21st. This programming ensures that beneficiary payments are managed in an organized manner.

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