Although not receiving an increased benefit from the United States Social Security in March 2025 may sound bad, it could actually be the opposite. Retirement benefits rise annually in line with inflation. The COLA raises the checks to higher levels.
However, this increase occurs only once a year, as pension benefits are not increased on a monthly basis. And, while we will not see an increase in March compared to February, we can say that there will be an increase in 2024. As a result, the payment for 2025 is higher than for 2024, but not higher than for the previous months of the same year.
What is the maximum Social Security payment in March 2025?
The maximum Social Security benefit payment in 2025 will be $5,180, but only for retirees over 70. If you have a disability payment or request one at the age of 67, the check will not be large enough to cover it. In that case, the maximum payment is $4,018.
In any case, the new maximum check will be implemented in March 2025, just as it was in February and January of this year. As a result, we will not see an increase in these checks, but if we have not yet applied for retirement, it is critical that we understand all of the details in order to maximise our monthly payments.
How can Social Security be maximized?
The Social Security retirement payment consists of three components. On the one hand, consider retirement age. In contrast, a worker’s salary is determined by the number of years worked.
These last two elements determine our monthly contribution, while the retirement age determines the final benefit percentage we receive.
Thus, to obtain the highest possible payment from Social Security, we must keep in mind that:
- We must delay the retirement age as much as possible.
- We must work for a minimum of 35 years.
- We must have a good salary during all those years.
If we have a good salary and work for 35 years, we can contribute a good benefit; however, retiring at the minimum age of 62 will result in a 30% reduction in our check. As a result, the full retirement age is 67, but waiting until 70 can make a significant difference, as it is the only way to earn $5,180 per month.
Even if we do not receive the maximum benefit of $5,180, we can still receive a good monthly check of $3,000 or $3,500 without having to apply for Social Security at the age of 70. In that case, everything will be determined by our work history and years of experience.
