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By Aliss Higham
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Social Security payments will be issued to recipients across the country this week.
Why It Matters
The Social Security Administration (SSA) pays retirement, survivor and disability benefits to some 70 million Americans. Payments go out every month and are delivered in one lump sum for the majority of recipients.
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What To Know
Retirement, spousal and survivor benefits are paid out over the course of the month, depending on the recipient's birth date and how long they've been receiving payments. Supplemental Security Income (SSI)—which supports elderly, blind and disabled individuals with limited income and resources—is typically issued at the beginning of each month.
This week, retirement and other benefits payments will be made on Wednesday, June 18, for all those with a birthday that falls between the 11th and 20th of a month.
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How Much Are Retirement Benefits?
Social Security retirement benefits are based on your highest 35 years of earnings, adjusted for inflation. The SSA calculates your average monthly earnings and uses a formula to determine your base benefit, called the Primary Insurance Amount (PIA).
The formula is progressive, meaning lower earners get a higher percentage of their income replaced. The age you start claiming also affects your benefit: Claiming at full retirement age, currently 67, gives you 100 percent of your PIA, claiming early reduces it, and delaying past full retirement age increases it, up to age 70. Your benefit reflects both earnings and timing.
In 2025, retiring at full retirement age would provide a maximum monthly benefit of $4,018. Retiring early at age 62 would lower the maximum to $2,831, while delaying retirement until age 70 could increase it to $5,108.
Increased Benefits Likely For 2026
The cost-of-living adjustment, commonly referred to as COLA, has been a long-standing element of Social Security benefits, being put it in place in 1975. The adjustment is designed to keep payments in line with inflation so that the purchasing power of benefits is not eroded over time.
In recent years, because of the high inflation amid the coronavirus pandemic, beneficiaries have seen their benefits rise more than usual.
In 2026, benefit recipients can likely expect a 2.5 percent COLA, according to a new estimate by Social Security and Medicare policy analyst Mary Johnson. This would match the 2025 COLA.
The SSA will officially announce the 2026 COLA in October.
What Happens Next
The final payment for June will be made on the 25th, for all those born between the 21st and 31st.
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