Retirees can expect to see an average increase of $50 in their January 2025 Social Security payment. The monthly average, which was $1,927 in December 2024, will rise to about $1,976 for January. While some retirees have already received their payments as of January 3, others will have to wait until later in the month, with some payments delayed until January 22, 2025.
Who Is Eligible for Social Security Payments on January 8, 2025?
If you’re expecting a Social Security payment on January 8, 2025, here’s what you need to know to qualify:
- You must have been born between the 1st and 10th of the month.
- You should not be receiving Supplemental Security Income (SSI).
- You must have started receiving retirement benefits after April 30, 1997.
- You must still meet all eligibility requirements.
For those born between the 11th and 20th, the payment will arrive on January 15, while those born between the 21st and 31st will receive theirs on January 22.
Also Read – Social Security Payments This Week: Up to $5,108 for Eligible Retirees
Will All Retirees Receive $1,976 in January 2025?
While the average Social Security payment in January 2025 will be about $1,976, this amount is just an estimate. The actual payment can vary greatly depending on your earnings history. For instance, if you worked for only 10 years, began collecting at age 62, and had lower lifetime earnings, your monthly payment could be much less than the average.
On the other hand, retirees who were high earners, worked for 35 years, and earned the taxable maximum could receive up to $5,108 if they waited until age 70 to start collecting benefits.
Upcoming Payments in February
For those who qualify for the January 3 payment, the next scheduled Social Security check will be on February 3. Keep in mind that low-income retirees may also be eligible for Supplemental Security Income (SSI), which can help supplement Social Security payments. If you haven’t already, it’s worth applying for SSI as soon as possible if you’re in need of additional financial support.
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