WPBN: The retirement benefit distribution plan for January 2025 has been released by the Social Security Administration (SSA). In this approach, recipients are divided into three distribution dates based on their birthdate.
Additionally, we must notify you of significant changes that will raise Social Security benefits for millions of Americans. However, those who get this remarkable increase must fulfill specific requirements, which we will discuss in more detail later in this article.
Let’s start by examining the January Social Security payment dates.
Depending on each beneficiary’s birthdate, payments will be made on January 8, 15, and 22 in accordance with the calendar that has been established:
- January 8: Those who were born on the first through the tenth of every month.
- January 15: Those who were born between January 11 and January 20.
- January 22: Those who were born between the ages of 21 and 31.
The dates of payment for other SSA benefits vary. For instance, on December 31, 2024, recipients of Supplemental Security Income (SSI) received their January payment.
The agency rescheduled this payment to the closest business day because the first was a holiday and should have been sent on that day.
For recipients who started receiving Social Security before May 1997 or who receive both Social Security and SSI, January 3 was the golden date. For this last group, Social Security was paid on Friday the 3rd, and SSI was paid on January 31.
Maximum sums for this month
A number of variables, including reported earnings throughout working life and retirement age, affect the monthly payment amount. The following sums have been set for January 2025:
- Those who claimed benefits at full retirement age (FRA) received $4,018.
- $2,831 for individuals who retired at the minimum eligible age of 62.
- $5,108 for people who didn’t begin receiving benefits until they were 70 years old.
Beginning in January 2025, these amounts will be subject to the 2.5% cost of living adjustment (COLA), which will marginally increase payments compared to 2024 payments.
The SSA provides information on the optimal age to declare retirement.
The FRA is the point at which a person can get full benefits without any reductions and is based on each person’s year of birth. An “early adjustment” is a proportionate reduction that is imposed on those who decide to retire before this age, such as age 62. If benefits are selected at the minimum age, this reduction may amount to as much as 30%.
On the other hand, beneficiaries can accrue a large number of “delayed retirement credits” by postponing retirement until age 70, which considerably raises the monthly amount paid.
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Social Security reforms under the Biden administration could result in higher payments for you.
The Social Security Fairness Act, a legislation intended to boost benefits for specific groups like teachers, firefighters, and police officers, was signed into law by President Joe Biden in December 2024.
The Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) are two of the major modifications brought about by this legislation.
The goal of these measures is to address historical injustices that have impacted some public sector employees’ retirement benefits. As of December 2023, around 745,000 recipients (or 1% of the total) were affected by the GPO, and 2.1 million (3%) saw cutbacks as a result of the WEP, according to data from the Congressional Research Service.
Delays Hit 67-Year-Old Retirees: No $1,800 Social Security Check in Early January
According to a Congressional Budget Office (CBO) research, by the end of 2025, recipients who were impacted by the WEP will receive an average monthly increase of $360. Depending on your unique situation, people impacted by the GPO may experience monthly hikes of $700 to $1,190.
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