Social Security Payment: Millions of senior citizens are getting monthly benefits from the social security administration after getting retirement. The social security payment is based on the retirement age where individuals who follow the full retirement age FRA criteria are able to get 100% benefit of SSI.
There is a good news for seniors as the government revise the full retirement age for SSA beneficiaries from January 2025. If you are also getting your payment or preparing to get your first payment of SSA after retirement then you can check the article which will help you to know the updated details of SSA eligibility including the full retirement age, income criteria to get the Social Security payment etc.
Social Security Payment 2025
Currently the full retirement age for getting the monthly benefits of social security administration is 67, where individuals who were born after 1960 are able to get the full payment of the program.
However the age criteria has revise before seniors who born in 1959 as they can apply for SSI program with full retirement age after crossing the age of 66 years and 10 months. It will help thousands of the individuals who are getting the reduced payment all did not apply for a program to avail the complete benefit of the program accordingly.
Overview of Social Security Payment in 2025
| Authority | SSA |
| Name of Program | Social Security Benefits |
| Country | USA |
| COLA Changes | By 2.5 % |
| Beneficiaries | Retirees, disabled individuals, survivors |
| Official Website | https://www.ssa.gov/ |
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What is the full retirement age for SSA in 2025?
The full retirement age is based according to the year of the birth of the applicant. Which starts from the age of 65 and goes up to the age of 67 according to the year of the birth.
You can check the following year wise FRA details in the following section which will help you to determine the age criteria of the SSI benefits :-
- Born 1937 or earlier: 65 years
- Born 1938: 65 years and 2 months
- Born 1939: 65 years and 4 months
- Born 1940: 65 years and 6 months
- Born 1941: 65 years and 8 months
- Born 1942: 65 years and 10 months
- Born 1943-1954: 66 years
- Born 1955: 66 years and 2 months
- Born 1956: 66 years and 4 months
- Born 1957: 66 years and 6 months
- Born 1958: 66 years and 8 months
- Born 1959: 66 years and 10 months
- Born 1960 and later: 67 years
Get SSI benefits before full retirement age
How about authority is encouraging individuals to start their SSI payments after reaching at the FRA criteria, applicants can start to receive the payment after crossing the age of 62. This condition is called as early retirement pension payment.
If you start receiving Social Security retirement benefits before your full retirement age (FRA), your benefits will be permanently reduced. The reduction is a percentage for each month you receive benefits before your FRA. For example, if your FRA is 67 and you start receiving benefits at 62, your benefits will be reduced by approximately 30%.
Delaying in SSI benefits
As the authority is reducing the payment for the beneficiaries for starting the SSI benefits earlier then the age of FRA, but he is also offering additional monthly payment to those who delay their payment after the age of 67 or more. If you maximize your delay by waiting until age 70 to claim Social Security, you’ll receive the highest possible monthly benefit.
This benefit will be 132% of your full retirement amount, which is the amount you would receive if you started claiming at your full retirement age (FRA). The maximum Social Security benefit you can receive by delaying benefits is $4,873 per month, which is for those who wait until age 70 to claim benefits.
What is the Cost of Living Adjustment (COLA) for 2025?
To help retiree benefits keep up with inflation, Social Security routinely adds in a cost of living adjustment (COLA). Effective Jan 2025, Social Security benefits has increased by 2.5%.
That means the average Social Security recipient will get an additional $50 per month. That would increase the estimated average monthly Social Security benefit from $1,927 to $1,976, the SSA says. Retired couples who collectively receive benefits will see an increase of $75 to an estimated average of $3,089 monthly.
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Conclusion :-
The benefits of increasing the FRA for seniors in the USA are primarily financial and demographic. Increasing the FRA helps ensure the long-term solvency of the Social Security program. With longer life expectancies, more people are receiving benefits for a longer period, putting a strain on the system.
Raising the FRA helps to balance the number of people paying into the system with the number receiving benefits. Additionally, it encourages older Americans to remain in the workforce longer. This can provide economic benefits by keeping experienced workers active and contributing to the economy. It can also have positive health implications, as staying active and engaged can contribute to overall well-being.
FAQ’s: Social Security Payment 2025
What is COLA & how it works?
A cost-of-living adjustment (COLA) is an increase in pay or benefits that’s intended to offset inflation.
On what basis the Social Security Payment is given?
Social Security payments are made on the 2nd, 3rd, or 4th Wednesday of the month, depending on the beneficiary’s birth date.
When SSI Payment is disbursed?
Complementary Security Income (SSI) payments are usually made on the first of the month.
