The Social Security Administration (SSA) announced that retirees aged 70 will experience a slight delay in receiving their Social Security retirement payments this May. Typically, the most consistent element of their financial planning, these beneficiaries will find their checks arriving a week later than usual. This scheduled change affects retirees who get the highest checks due to delaying their retirement, significantly increasing monthly benefits.
In May 2025, those affected by this delay will not see their automatic deposits until later. Though rare, such alterations in the payment schedule are planned adjustments based on factors such as date of birth or the type of benefit received. The next major Social Security payment is set for Wednesday, May 14.
However, only beneficiaries approved for benefits after May 1997 and born between the 1st and 10th of the month will receive their checks on this date. The following groups should note these dates for their payments:
– May 14: Beneficiaries born between the 1st and 10th of the month. – May 21: Beneficiaries born between the 11th and 20th of the month.
This delay could cause surprise or concern among those who have meticulously planned their finances around the arrival of their Social Security checks.
Payment schedule change for retirees
Beneficiaries aged 70 and older typically receive the highest benefits, as delaying retirement after age 66 or 67 increases the monthly payment significantly.
In 2025, the maximum benefit can reach up to $5,180 per month under specific conditions:
1. Delay retirement until age 70.
2. Have a work history of at least 35 years.
3. Have earned a high and consistent income throughout those years.
Despite qualifying for the highest payments, the timing of these checks depends on birth dates and the date benefits began, not the amount on the check. Consequently, many 70-year-old retirees expecting their payment in early May will receive it on May 14 or even May 21, depending on their birth date. Retirees should review the SSA schedule to ensure they are aware of any changes in payment dates and adjust their financial planning accordingly.
Keeping informed of these details will help prevent unnecessary concern and ensure smooth financial management.
Image Credits: Photo by Jazmin Quaynor on Unsplash
