Each month, the Social Security Administration (SSA) distributes benefits to retirees, individuals with disabilities, and the families of deceased workers. Given the approximately 70 million beneficiaries receiving payments, the SSA uses a staggered distribution schedule based on the beneficiary’s birthdate and type of benefit.
Here’s what recipients can expect this November, along with details on benefit calculations, the 2025 cost-of-living adjustment (COLA), and the best retirement planning strategies for maximizing Social Security benefits.
Payment Schedule
For beneficiaries receiving Social Security retirement or disability benefits:
- Birthdays between the 1st and 10th: Payments are deposited on Wednesday, November 13.
- Birthdays between the 11th and 20th: Payments are deposited on Wednesday, November 20.
- Birthdays between the 21st and 31st: Payments are deposited on Wednesday, November 27.
However, this schedule does not apply to Supplemental Security Income (SSI) recipients or to individuals who have been receiving retirement benefits since before May 1997. These groups typically receive their payments earlier in the month.
If a beneficiary does not receive their payment on the expected date, the SSA advises waiting at least three business days before contacting them. This allows time for any potential delays in the processing or transfer of funds to resolve naturally.
Social Security Benefits
Social Security benefits are determined based on a person’s highest-earning 35 years of work. If a person has worked more than 35 years, only their top-earning years are considered in the calculation. This approach ensures that benefits reflect an individual’s work history and contribution level. Beneficiaries who delay claiming until age 70 can receive up to $4,873 per month, the maximum monthly benefit available. Conversely, those who choose to claim benefits early at age 62 face a monthly cap of $2,710.
The average monthly retirement benefit as of June 2024 was $1,869.77. Retirees aiming to maximize their monthly benefits often consider delaying their claim to increase their monthly payment.
Annual COLA
Social Security benefit amounts adjust annually based on the Consumer Price Index (CPI) through a process known as the cost-of-living adjustment, or COLA. This adjustment helps beneficiaries keep pace with inflation and avoid erosion in purchasing power.
In 2025, the SSA will apply a 2.5% COLA to benefits, effective in January. This adjustment supports recipients’ ability to manage essential expenses and is especially critical for those who rely on Social Security as their primary income source. The COLA helps offset inflationary pressures on housing, healthcare, and everyday necessities, especially during periods of high inflation.
2025 Estimated Benefits
| Benefit Type | Average Benefit After 2.5% Increase |
|---|---|
| Retirement Benefits | $1,916 |
| Disability Benefits | $1,614 |
| Survivor Benefits | $1,581 |
| SSI Benefits | $733 |
These increased benefits will be reflected in payments starting in January 2025, ensuring that recipients have additional income to handle rising costs.
Receive Your Payment
If a beneficiary’s payment does not arrive on the scheduled date, the SSA recommends waiting three business days before reaching out to report the issue. This buffer period accounts for any minor delays that may occur. If the payment is still missing after three business days, beneficiaries can contact the SSA to identify and correct any issues.
Retirement Planning
The age at which an individual begins receiving Social Security benefits greatly impacts their monthly payment. Here’s a look at the options:
- Early Claiming at 62: Results in permanently reduced monthly benefits.
- Claiming at Full Retirement Age (FRA): Provides full benefits without reduction. For those born between 1943 and 1954, the FRA is 66, while it gradually increases for those born after 1954, reaching 67 for individuals born in 1960 or later.
- Delaying Until 70: Allows beneficiaries to receive the highest possible monthly benefit. Although this requires waiting, it can provide greater financial stability in retirement years.
Each approach has its benefits, but for those who can afford to delay, waiting until 70 can maximize the monthly benefit, which is helpful for those looking to secure a larger retirement income.
Upcoming Changes
In addition to the COLA adjustment, the SSA continues to review and adjust benefit structures to ensure financial stability for beneficiaries. These efforts include annual evaluations like the 2025 COLA, which helps recipients maintain their purchasing power in the face of inflation.
With these adjustments, the SSA aims to protect the long-term financial health of beneficiaries, particularly during periods of economic change. Staying informed about changes to Social Security can help beneficiaries make proactive decisions that maximize their benefits and secure their financial future.
FAQs
When will I receive my Social Security payment in November?
Payments are issued based on your birth date: 1st-10th on Nov 13, 11th-20th on Nov 20, 21st-31st on Nov 27.
What should I do if my Social Security payment is late?
Wait three business days before contacting the SSA to report a missing payment.
How is my Social Security benefit amount calculated?
It is based on your highest-earning 35 years of work history.
What is the 2025 Social Security COLA increase?
The COLA for 2025 will be a 2.5% increase to monthly benefits.
When is the best age to start claiming Social Security benefits?
For maximum benefits, it’s best to wait until age 70 if possible.
