In March, the Social Security Administration of the United States will send a new payment to beneficiaries who have previously accepted benefits. These benefits are available to all types of beneficiaries, though the specific day of payment will vary depending on the group of retirees to which we belong.
Thus, in order to receive the new Social Security payment, which will be sent out this week, we do not need to be 65 years old or receive a disability payment, but we must meet two other completely mandatory requirements.
If we fail to meet them, we will not be able to receive the cheque. So, in order to make the best use of our budget, we must first determine what those requirements are.
If our household’s economy is directly dependent on this monthly check, we must have complete control over the collection date. The good news is that the Social Security Administration announces ahead of time when each cheque is sent to the various groups of beneficiaries.
New Social Security Payments for Retirees
On March 12, 2025, a specific group of US citizens will be able to benefit from this new retirement cheque. So, if you have an accepted benefit, you should be aware that you may receive payment within a few hours.
The requirements for this new payment include, on the one hand, receiving a benefit after May 1997. On the other hand, your birthday should fall between the first and tenth of any month. If you meet both conditions, you will receive payment very soon.
To that, we must add that we chose Direct Deposit as our collection method. This collection method is the quickest of all, and we will be able to receive the benefit the moment the Administration sends it.
And, while it may be concerning not to have this collection method activated, the truth is that nothing happens if we do not have it, and we will receive the cheque a few days later.
Why is Social Security higher in 2025?
The reason for the increase in Social Security benefits in March 2025 compared to the same month last year is COLA. To effectively deal with inflation, the US government increases citizens’ checks on an annual basis.
As a result, citizens who receive a monthly benefit can see their retirement savings grow at the start of each year, reaching previously unattainable levels. These benefits will be paid out at a 2.5% higher rate in 2025.
With this increase, Social Security payments could reach $5,180 in the case of maximum payments. However, not all Americans will be able to receive such a large sum of money, as it will be determined by their type of benefit and work history.
