This week, millions of Americans will receive their latest Social Security payment, with checks of up to $5,181 being distributed on Wednesday. Approximately 75 million people in the United States collect either Social Security or Supplemental Security Income (SSI) benefits. Payment schedules for Social Security are typically determined by birthdates. Beneficiaries born from the 1st to the 10th receive payments on the second Wednesday of the month. Those born between the 11th and 20th receive theirs on the third Wednesday, while individuals born from the 21st to the 31st are paid on the fourth Wednesday.
Current beneficiaries with birthdays from the 11th to the 20th will receive payments this Wednesday, September 16. However, there are exceptions. Individuals who started getting Social Security before May 1997, and those receiving both Social Security and SSI, usually see their payments on the third of the month. SSI payments are generally made on the first of the month.
Recipients who do not see their payment on the expected day should wait three working days before contacting the Social Security Administration (SSA). The SSA points out that the amount retirees receive largely depends on their earnings history and the age they begin claiming benefits. For instance, someone who earned the maximum amount subject to Social Security taxes throughout their career could receive $2,969 monthly if starting at 62, $4,152 at full retirement age, or $5,181 at age 70 in 2026. Most retirees receive less, with average retired workers seeing $2,085.98 per month in July 2026. Across all beneficiaries, the average payment was $1,940.08.
Many workers need 40 Social Security credits to qualify for retirement benefits. In 2026, earnings of $1,890 equivalate to one credit, with a maximum of four credits available each year.
The highest benefit of $5,181 is available to those with maximum earnings and late benefits commencement. However, the average retired-worker benefit is commonly much lower. Benefit amounts vary based on lifetime earnings and when benefits are claimed, indicating $5,181 as an upper limit rather than the norm for retirees.
Forecasts for the 2027 cost-of-living adjustment (COLA) became more defined after August inflation data revealed more about potential increases. The Bureau of Labor Statistics (BLS) showed the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose 3.5% over the year through August, reaching 328.481. This data informs the COLA, which influences benefit adjustments. Current projections place the 2027 COLA between 3.4% and 3.6%.
The Committee for a Responsible Federal Budget suggested a 3.4% increase. Independent Social Security analyst Mary Johnson and The Senior Citizens League estimate 3.5%. AARP raised its estimate to 3.6% following the August figures. A 3.5% increase could add roughly $67.90 per month to average benefits, while a 3.6% increase might yield an additional $75 per month. With the average retired-worker benefit at $2,085.98, the prospective COLA range would mean a $71 to $75 uptick monthly.
However, final decisions depend on September’s CPI-W reading, set for release on October 14. Social Security determines the COLA by comparing the average CPI-W from July, August, and September to the previous year’s third-quarter average. The SSA intends to announce the 2027 COLA on the same day, applying the changes to benefits paid in 2027.
Medicare Part B and Net COLA Impact
It’s important to note that a COLA hike doesn’t directly equate to increased spendable cash. For Medicare enrollees, Part B premiums are deducted from Social Security benefits. Therefore, higher premiums could partially neutralize a COLA increase. The net rise that beneficiaries experience will be contingent upon their specific benefits and the yet-to-be-determined 2027 Part B premium. As such, recipients should consider the projected COLA as a gross increase and not an exact new monthly amount.
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