The new year is here, and even if you have let go of some resolutions, you can still keep track of your Social Security benefits. Make sure to note the February Social Security payment schedule.
Approximately 68 million individuals in the U.S. receive Social Security benefits monthly, which includes about 90% of seniors aged 65 and older. These benefits are not exclusive to the elderly; they also support retirees, survivors of deceased workers, individuals with limited resources, disabled individuals, the blind, and dependents.
The average benefits for these groups differ, but recent data indicates that the average retirement benefit was around $1,976 as of January.
When will my February Social Security payment arrive?
The date you receive your Social Security payment is based on your birthdate.
If your birthday falls between the 1st and the 10th of the month, you can expect your benefit on the second Wednesday, which is February 12 this month.
If your birthday is between the 11th and the 20th, your payment will arrive on the third Wednesday, February 19.
For those born between the 21st and the 31st, payments will be made on the fourth Wednesday, February 26.
Supplemental Security Income (SSI) payments are usually distributed on the first of the month; however, since February 1 is a Saturday, these payments will instead be issued on Friday, January 31.
Individuals receiving both SSI and Social Security or those who claimed Social Security prior to May 1997 will receive their benefits on the third of February as usual.
What should I do if my February Social Security payment is missing?
Please refer to the scheduled payment dates above.
If you believe your payment has not arrived, you can contact the Social Security Administration (SSA) via their local offices or their national helpline at 1-800-772-1213. Their representatives are available during the week from 8 a.m. to 7 p.m. local time. It is advisable to call in the mornings, later in the week, or towards the end of the month for shorter wait times.
The SSA recommends that you wait three mailing days before inquiring about a missing payment.
Will Social Security be impacted by the recent funding freeze?
The Office of Management and Budget had issued a memo for agencies to temporarily pause federal financial assistance programs for cost evaluation, but this has now been rescinded. Some uncertainty remains regarding federal funding continuity.
Regardless, the memo stated that no changes should affect Medicare or Social Security benefits, indicating that these payments are expected to continue as normal.
What is the SSA payment schedule for 2025?
The Social Security Administration’s payment calendar for 2025 is available on its website. While it generally follows the same schedule discussed, some months may vary.
For example, SSI payments for February will be distributed on January 31, the March payments on February 28, with no additional SSI payment until April.
You can create a free “my Social Security” account at SSA.gov to check your payment status or get assistance with Medicare, retirement benefits, disability, and SSI.
How is my Social Security payment calculated?
Your benefits are typically calculated based on your average indexed monthly earnings over a maximum of 35 years of your highest earnings. The SSA applies a specific formula to determine your primary insurance amount.
The actual benefits retirees receive can vary based on their age. Although you can start claiming Social Security at 62, delaying your claim will increase your monthly payments up to age 70 when changes cease.
For many Americans, these benefits are essential, as Social Security constitutes about 30% of the income for individuals over 65. With increasing life expectancies and ongoing discussions about Social Security’s future, the costs of retirement are rising; in 2022, data showed that retired households spent an average of $54,975, which included $11,186 on shelter, $8,065 on transportation, and $7,505 on healthcare.
photo credit: money.com
