The Social Security Administration (SSA) has made it official that one group will collect more than $5,000 on this particular date. The SSA provides benefits to retired workers, their dependents, individuals with disabilities, and survivors of deceased workers. Millions of Americans depend on the financial relief brought by Social Security, which is why some beneficiaries will be overjoyed to learn how and when they can collect the more than $5,000 Social Security benefit.
Social Security is essential to millions of Americans
Tens of millions of Americans receive benefits from the SSA, which have proven to be crucial income for retirees, survivors, and disabled citizens. The benefits are distributed monthly, and most beneficiaries receive their benefits in one lump sum. Since there are various types of benefits being distributed to 70 million beneficiaries, not everyone will receive their benefits at the same time.
Benefits for retirees and survivors, as well as spousal benefits, are paid out at different times, which are based on the beneficiary’s date of birth or the total time they’ve been receiving benefits. However, the payment dates for people who depend on Social Security benefits are later this month than any other month this year. This is due to a calendar quirk.
Usually, the Social Security benefits are distributed on the month’s second, third, and fourth Wednesdays depending on your date of birth. If you were born:
- Between the 1st and the 10th of any given month, you should be paid on the second Wednesday
- Between the 11th and the 20th of any given month, you should be paid on the third Wednesday
- Between the 21st and the 31st of any given month, you should be paid on the fourth Wednesday
In May, the first of the month fell on a Thursday and the first Wednesday of the month on the 7th, which pushed the other Wednesdays a few days back.
This is when this group can expect their SSA benefits to be distributed
If you are wondering when the next payment for May is, we have some fantastic news! According to the Social Security payment schedule, benefits will be paid out on Wednesday, May 28, 2025. This payment date applies to anyone born between the 21st and 31st of any given calendar month. The benefits that will be paid out on this date are in line with the annual inflation, thanks to something known as the Cost of Living Adjustment, or COLA.
The COLA ensures that the Social Security benefits also increase in line with the annual inflation, and this year the increase in benefits should be announced in October. Per the Senior Citizens League (TSCL), based on current economic conditions, the COLA for 2026 will be 2.3 %. This, of course, depends on President Trump’s widespread tariffs. However, before you start to worry, let’s rather focus on the group that will certainly be receiving more than $5,000 on May 28.
This group of beneficiaries will collect +$5,000
Depending on your full retirement age (FRA) and when you started collecting, only one group of beneficiaries will receive the maximum Social Security payment on this date. The current FRA is 67, which means the claimable maximum monthly payment is $4,152. Some people retire early at 62, which reduces their claimable maximum monthly payment to $2,969.
This group will be collecting +$5,000 on May 28:
- Retirees who postponed retiring and claiming benefits to 70
- Their claimable maximum monthly payment is $5,181
These are the highest possible payouts, but note that the actual benefit depends on factors such as total lifetime income and how long you’ve contributed to Social Security. The average monthly retirement benefit was $1,976 as of January 2025.
No matter what, we know that millions of beneficiaries will be overjoyed to receive their Social Security benefits on May 28. SSI beneficiaries should be on the lookout for their payment this week, too!
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