The Social Security Administration (SSA) makes payments to people every month according to their retirement. This payment is determined according to the person’s age, retirement time and their income. Supplemental Security Income (SSI) is usually given at the beginning of the month, which is given to the elderly, blind people and disabled people who have low income and assets.
Two payments are being given this week:
- April 1, 2025 (Tuesday): All people receiving SSI will get payment on this day.
- April 3, 2025 (Thursday): People who have been receiving retirement benefits since before May 1997 will receive a payment. If someone is receiving both SSI and Social Security, they will receive both payments together on April 3.
If someone does not receive a payment on time, SSA says to wait 3 working days and then contact them.
What does a monthly Social Security payment of $5108 mean?
Does everyone get $5108?
No, this is a maximum payment that very few people get. It is given to people:
- Those who have earned high income for at least 35 years.
- Those who retired at age 70.
- Those who waited until full retirement age (66-67 years).
How much do people get on average?
In 2024, the average retiree receives about $1,907 every month. The amount of $5108 is received by only about 6% of beneficiaries.
How is Social Security benefit determined?
1. Your Lifetime Earnings:
The SSA looks at your 35 highest earning years and adjusts it according to inflation. This determines your Primary Insurance Amount (PIA).
2. Retirement age:
- Retirement at 62 years: Benefit can be reduced by up to 30%.
- 66-67 years (Full Retirement Age): Full benefit is received.
- Retirement at 70 years: Up to 8% more benefit every year.
3. Work History (minimum 35 years):
If you have worked for less than 35 years, the remaining years are considered as “0” earnings and averaged, which reduces your payment.
What can you do if you don’t get $5,108?
1. Increase your income:
- Get a promotion
- Learn new skills
- Earn part-time or extra income
2. Work for at least 35 years:
This will increase your average income and increase your payment.
3. Pay attention to spousal benefits:
If you’re married, you can get up to 50% of your spouse’s payment (if your own is low).
4. Claim on time:
- Claiming at 62 will reduce your payment.
- Waiting until 70 will increase your payment.
Payment dates for April 2025:
- Born between 1 and 10: Payment on April 9.
- Born between 11 and 20: Payment on April 16.
- Born between 21 and 31: Payment on April 23.
Frequently asked questions:
Q.Can anyone get $5,108?
A.No, it’s only for people who earn the maximum taxable income for 35 years and retire at age 70.
Q.How is Social Security calculated?
A.Your payment is determined by a formula that takes the average of your 35 high-income years. When you retire also makes a difference.
Q.How is Social Security calculated?
A.Your payment is determined by a formula that takes the average of your 35 high-income years. When you retire also makes a difference.
Q.Can the payment be more than $5,108?
A.Not yet, but it could increase in the coming years through COLA. Payments stop increasing after age 70.
