First round of January payments worth up to $4,873 goes out in 14 days

Social Security beneficiaries who were born between the 1st and the 10th of a month will receive their regular monthly checks for January from the Social Security Administration on Jan. 8, 2025.

Retirees receive their Social Security check depending on when their birthday falls, and the checks are sent out in three different waves.

The amount of Social Security benefits retirees receive depends on their age, the number of years they paid into the system, and the amount of money they paid to Social Security. The highest-income earners who retired at age 70 can expect to receive a maximum of $4,873 each month. Those who retire at age 62, the earliest one can begin collecting benefits, can collect a maximum of $2,710 each month.

Beneficiaries can see a personalized estimate of how much they can expect each month through the SSA’s calculator.

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Monthly Social Security payments differ from other checks the SSA sends out, such as disability insurance or Supplemental Security Income. SSI payments are mailed to recipients by the beginning of each month to those with debilitating disabilities that may affect their income.

The federal government has provided Social Security benefits to retirees since 1935. The program is financed by a payroll tax paid by employers and employees. However, analysts estimate the SSA will no longer be able to give out full payments to recipients as early as 2034 due to a rising number of retirees and a shrinking number of workers. It is up to Congress to make changes to ensure recipients don’t see a dip in payments.