August brings new Social Security payments, which are key for millions of people who need these benefits to maintain economic stability that allows them to live more peacefully after retirement or other factors that have them applying for these SSA payments.
Social Security payments are made in three installments each month and follow a fairly strict schedule in order to deliver all the benefits in an orderly and organized manner. There are different amounts depending on each person’s case and also what varies is the age at which benefits can be claimed, so it is important to have all the information clear.
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When will the next Social Security payment be made?
Social Security payments are made according to the beneficiaries’ date of birth, so on Wednesday, August 13, payments will be made to people born between the 1st and 10th of any month.
How much does Social Security pay?
These are the amounts according to the ages of retirees
- $4,018 per month if you retire at full retirement age (FRA) in 2025.
- $2,831 per month if you retire at age 62 in 2025.
- $5,108 per month when retiring at age 70 in 2025
At what age can you start receiving your Social Security retirement benefits in 2025?
The minimum age to receive Social Security payments is 62, however, to receive full benefits you must reach full retirement age, which is 67. The longer you delay claiming, the more benefits you will have.