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Social Security Payments Up to $5,108 Scheduled for This Week

share-iconMonday, January 06 comment-icon2 weeks ago 7 views
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newsweekNEWSWEEK
Social Security Payments Up to $5,108 Scheduled for This Week

Credited from: NEWSWEEK

  • The first round of **Social Security retirement benefits** for 2025 will be **distributed this week**, marking a new phase of increased payments.
  • The **Cost of Living Adjustment (COLA)** has raised average monthly benefits, increasing from **$1,927 to $1,976** due to inflation considerations.
  • Payments are staggered based on **the beneficiary's birthday**; individuals born between the **1st and 10th** can expect payments on **Wednesday, January 8**.
  • The **maximum benefit** for retirees at **age 70** can reach **$5,108**, while younger retirees may receive lower amounts based on their retirement age.
  • Despite the COLA, experts indicate it is the **lowest adjustment since 2021**, highlighting ongoing inflation challenges faced by older Americans.

For more details, read the full article here.

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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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