In August 2025, millions of people will receive their Social Security payments, which are crucial for those depending on these benefits to maintain financial stability during retirement or due to other factors. Social Security payments are made on a strict schedule throughout the month, depending on the recipient’s birth date. There are different amounts for various individuals, based on when they claim their benefits and their age at the time of claiming.
The payments are distributed in three main installments each month, ensuring that Social Security benefits are delivered in an orderly manner. Beneficiaries born between the 1st and 10th of the month will receive their payments on the second Wednesday of August, which is the 13th. The payment schedule continues with additional rounds of payments on the third and fourth Wednesdays for beneficiaries born in subsequent date ranges.
When it comes to the amount a person will receive in Social Security benefits, the figures are based on the age at which they begin claiming benefits. In 2025, individuals can claim Social Security benefits starting at age 62, although doing so means a reduced payment compared to waiting until their Full Retirement Age (FRA), which is typically age 67.
For example, if someone retires at age 62 in 2025, they will receive approximately $2,831 per month. This is a reduction of about 30% from the amount they would receive if they waited until their FRA. On the other hand, if someone chooses to delay their retirement and claims benefits at their FRA, they could receive up to $4,018 per month. This amount reflects the standard benefit for those retiring at the full retirement age.
For those who delay their retirement even further, to age 70, they can maximize their Social Security benefits, receiving up to $5,108 per month. However, this maximum benefit is reserved for individuals who have worked for at least 35 years, earning the maximum taxable income for each of those years, which in 2025 is $176,100. The key to receiving the maximum benefit is waiting until age 70 to claim Social Security, as this is the point at which benefit payments stop increasing.
While the maximum benefit is achievable for a select few, the vast majority of beneficiaries will receive payments closer to the average. For those retiring at Full Retirement Age, the average monthly Social Security benefit in 2025 will be around $1,976 after the 2.5% cost-of-living adjustment (COLA). This is slightly lower than the average pension for the year, which is nearing $2,002.39, the highest it has been so far.
Understanding when and how much you will receive in Social Security payments is crucial for retirement planning. While early retirement may seem tempting, it often results in significantly reduced benefits. Conversely, delaying benefits can lead to higher monthly payments, which could provide more financial security later in life. Whether you retire at age 62, 67, or 70, it’s important to plan your retirement carefully and know what to expect from your Social Security benefits.
