Social Security payments start this week with increases for millions of beneficiaries

Social Security retirement payments will begin this week for millions of beneficiaries. The first payments of 2025 will reflect a Cost of Living Adjustment (COLA), increasing the average benefit by about $49, from $1,927 to $1,976. Beneficiaries with birthdays from the 1st to the 10th will receive their payments on January 8. The maximum monthly benefit for retirees at Full Retirement Age is $4,018, while those retiring at age 70 can receive up to $5,108. The next payments will be issued on January 15 and January 22. Beneficiaries are advised to wait three working days before inquiring about any missing payments.