As July 2025 approaches, Social Security recipients across the United States will soon receive their scheduled payments. These disbursements, set for July 16 and 23, provide crucial financial support to millions of retirees. For many, these payments reflect the culmination of years of work and planning, making understanding the figures and rules surrounding them especially important. But the reality of these payments varies depending on the recipient’s age and the timing of their filing.
For individuals between the ages of 62 and 67, Social Security payments can significantly differ based on their filing decisions and the specific month they were born. The process is designed to support workers in their retirement years, but the amount received varies widely, with early retirees receiving smaller payments compared to those who wait until the Full Retirement Age.
Payment Schedule for July
Social Security payments are divided into two main dates in July: the 16th and the 23rd. These dates specifically apply to individuals who began receiving Social Security benefits after April 30, 1997. Additionally, payments for those receiving Supplemental Security Income (SSI) are excluded from this schedule.
The exact day of payment depends on the recipient’s birth date. If your birth date falls between the 1st and 10th of the month, your payment will arrive on August 13. Those born from the 11th to the 20th will receive their funds on July 16, while recipients with birthdays from the 21st to the 31st can expect payment on July 23. This system helps streamline the distribution and ensure all recipients receive their payments in an orderly manner.
Impact of Filing Age on Payment Amounts
The amount of the Social Security payment is influenced heavily by the age at which a person begins to claim benefits. The average payment for early retirees at age 62 is notably lower than for those who wait until they reach Full Retirement Age. A person filing at 62 could see a reduction in their monthly payment by approximately 30%.
The figures show that individuals who begin claiming at age 62 can expect an average payment of around $1,341, with men generally receiving more than women. On average, men aged 62 receive $1,485, while women collect approximately $1,207. By the time recipients reach 63, their monthly benefits increase slightly, with women receiving $1,233 and men $1,504.
Payments for Older Recipients: 64-67
As recipients age, their Social Security payments increase. For those who are 64, the average payment for men is $1,573, while women receive $1,288. At this age, there are more than one million recipients across the United States, with over 540,000 women receiving payments. These increased benefits come as a result of the recipient getting closer to the Full Retirement Age.
At age 65, the monthly payment rises further. Individuals in this group receive an average of $1,611, with men receiving $1,784 and women receiving $1,452. This increase reflects the gradual adjustment in benefits as the retirement age approaches.
Full Retirement Age: Reaching 66 and Beyond
For those nearing Full Retirement Age, the payments continue to grow. The new Full Retirement Age in the U.S. is currently 66 years and 8 months, with it soon shifting to 67 for those born in 1960 or later. Once recipients reach Full Retirement Age, they become eligible for the full amount of their benefits.
At 66, Social Security recipients can expect an average monthly payment of $1,763. Men in this group receive about $1,958, while women average $1,580. Finally, at age 67, the average payment climbs to $1,929, with men receiving $2,142 and women receiving $1,719.
