Are you an American retiree? Well, this article will be of your interest because some Social Security beneficiaries in the United States will receive a monthly retirement payment of up to $4,018. This deposit corresponds to a specific group of people who meet certain requirements established by the Social Security Administration (SSA), both in terms of age and work history. It is not a universal benefit for all retirees, so let’s find out if you are eligible for that benefit!
Who will receive this payment on July 16?
Social Security organizes monthly payments according to the beneficiary’s date of birth. On Wednesday, July 16, payments will be issued to those retirees born between the 11th and 20th of any month of the year, regardless of which month they were born in. This means that retirees born on January 12, April 15, or September 20, are in this group of beneficiaries.
In addition, this group is part of the so-called mid-month payment group, one of the three date divisions used by the SSA to distribute deposits in an organized way each month. The staggered payment system helps avoid overload on platforms and banks and also ensures that deposits are made in an orderly manner.
What is needed to receive the maximum of $4,018?
Retirees won’t receive the highest amount automatically. According to the SSA, the cap of $4,018 per month in 2025 is only reached if:
- You waited until age 70 to retire: That is, you did not claim your benefit at 62 (the minimum age) or at 66 or 67 (full retirement age, depending on your birth year), but you decided to delay it until age 70, which increases the amount of your monthly payment.
- During your working life you contributed the maximum to the Social Security system: This means you worked many years with high earnings and each year you contributed the maximum allowed by the SSA. It’s not just about having a high salary once, but maintaining above-average income for decades.
- Your benefit was calculated based on your 35 highest-earning years, which is the standard used by the SSA. Those years are adjusted for inflation, and with that information, your “base benefit” is calculated.
How is that amount calculated?
The retirement amount is not the same for everyone, and it is not assigned randomly. To determine how much a retiree receives, Social Security:
- Takes the 35 years with the highest income from your work history.
- Adjusts those earnings for inflation.
- Applies an official formula to determine the “base benefit.”
- If the person delayed retirement, an additional percentage is added for each extra year worked beyond full retirement age. That accumulated increase can be considerable: in some cases, more than $1,000 extra per month compared to retiring at 62 or 66.
How and where is this money deposited?
The deposit is made automatically, with no need to submit any additional request. The money is transferred directly to: The bank account the beneficiary has registered with the SSA, or a Direct Express card, if the beneficiary uses that payment method.
The deposit should be reflected on July 16, although depending on the bank, it could take until the early hours of the following day (Thursday, July 17). No additional procedure is required; the process is automatic.
How to know if you are receiving what you are entitled to
If you’re not sure whether the amount you receive each month is correct or if you think it should be higher, you can check online:
- Log in to your account at my Social Security.
- Check your benefit letter, which shows: The approved amount of your monthly payment, the exact date of the next payment and a summary of how your benefit was calculated based on your work history.
Annual adjustments for cost of living (COLA)
The maximum retirement amount is adjusted each year based on the COLA (Cost-of-Living Adjustment). In January 2025, an increase of 3.2% was applied to compensate for inflation. As part of a technical adjustment, the monthly cap went from $4,194 in 2024 to $4,018 in 2025, after certain internal modifications.
The next COLA adjustment will be announced in October 2025 and will take effect in January 2026. This adjustment affects all beneficiaries and is intended to ensure that the value of payments does not decrease due to general price increases in the economy.
So, make sure you and your retiree friends are well informed on every benefit you can receive. The SSA offers so many benefits and if you are a retiree, you should be rewarded for all those years of effort and hard work.