Social Security Latest: Payment of up to $5,181 Arriving This Week - Newsweek
Millions of Americans are due to receive their latest Social Security payment this week, with checks of up to $5,181 scheduled to go out on Wednesday.
Around 75 million Americans receive Social Security or Supplemental Security Income (SSI) benefits. Most Social Security beneficiaries are paid according to their date of birth. Those born between the 1st and 10th receive benefits on the second Wednesday of the month, those born between the 11th and 20th are paid on the third Wednesday, and recipients born between the 21st and 31st are paid on the fourth Wednesday.
The latest round of payments come just a few days after new inflation figures provided a much clearer picture of how much Social Security benefits could increase in 2027. The latest forecasts now put next year's cost-of-living adjustment (COLA) at roughly 3.4 percent to 3.6 percent, which would be higher than the 2.8 percent increase applied to benefits in 2026.
This week, payments will be made to beneficiaries whose birthdays fall between the 11th and 20th of any month on Wednesday, September 16.
There are exceptions who won't get a Social Security payment this week, even if their birthday falls in the assigned period. People who began receiving Social Security before May 1997, along with beneficiaries who receive both Social Security and SSI, generally receive their Social Security payment on the third of the month instead. SSI is normally paid on the first.
The SSA advises recipients who do not receive their payment on the expected date to allow three working days before contacting the agency.
The amount a retiree receives depends heavily on their earnings history and the age at which they begin claiming benefits.
For someone who earned at or above the maximum amount subject to Social Security taxes throughout their career, the maximum monthly retirement benefit in 2026 is $2,969 if benefits begin at age 62, $4,152 at full retirement age and $5,181 if benefits begin at age 70, according to the SSA.
Most retirees receive considerably less. The latest SSA Monthly Statistical Snapshot shows that the average retired worker received $2,085.98 per month in July 2026. Across all Social Security beneficiaries, including retirees, survivors and disability recipients, the average payment was $1,940.08.
Most workers need 40 Social Security credits to qualify for retirement benefits. In 2026, one credit is earned for every $1,890 in covered earnings, and workers can earn a maximum of four credits per year.
The $5,181 figure represents the maximum possible retirement benefit for someone who had earnings at or above the Social Security taxable maximum for many years and delayed claiming benefits until age 70. It is not typical of what most retirees receive.
The average retired-worker benefit is much lower because benefit amounts vary based on lifetime earnings and the age when benefits are claimed. In other words, $5,181 is a best-case maximum, while the $2,085.98 average gives a better sense of what a typical retiree receives.
Forecasts for the 2027 COLA have arrived following the release of August inflation data on September 11.
The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose 3.5 percent over the year through August, reaching an index level of 328.481. July's CPI-W reading was 327.104, meaning two of the three figures used to determine the 2027 COLA are now known.
The latest estimates fall between 3.4 percent and 3.6 percent. The Committee for a Responsible Federal Budget estimates a 3.4 percent increase, while independent Social Security analyst Mary Johnson puts the figure at 3.5 percent.
The Senior Citizens League also now forecasts a 3.5 percent COLA, down slightly from its 3.6 percent estimate in August. The group said a 3.5 percent increase would raise the average benefit across all Social Security recipients by about $67.90 a month.
At the upper end of the current range, AARP forecasts a 3.6 percent COLA, raising its estimate from 3.5 percent after the August inflation figures. AARP estimates that would add roughly $75 a month to the average retired worker's benefit.
Applied to the SSA's current average retired-worker benefit of $2,085.98, the present 3.4-to-3.6 percent forecast range would translate to an increase of roughly $71 to $75 per month.
However, the final figure will depend on September's CPI-W reading, which the BLS is scheduled to release on October 14. Social Security calculates the COLA by comparing the average CPI-W for July, August and September with the corresponding third-quarter average from the previous year.
The SSA is expected to announce the official 2027 COLA the same day, which will apply to benefits paid in 2027.
The COLA increase does not necessarily translate into the same increase in the amount beneficiaries have available to spend. Medicare Part B premiums are generally deducted directly from Social Security benefits for people enrolled in Medicare, so an increase in the premium can offset part of a COLA.
The actual net increase will depend on the beneficiary's individual benefit and the Part B premium for 2027, which has not yet been finalized. As a result, beneficiaries should view the projected COLA as a gross increase rather than the exact amount they will see in their monthly payment.
