Social Security: Benefits up to $5,181 to be paid this week

Social Security beneficiaries with birthdays between the 1st and 10th are scheduled to receive payments on March 11, and the SSA says to allow up to three business days if a direct deposit does not appear.

Millions of Americans will receive Social Security payments this week. More than 70 million people rely on the program for retirement, disability, or survivor benefits. The Social Security Administration distributes payments on a staggered timetable across the month. This week's payments go to beneficiaries with birthdays between the 1st and 10th, scheduled for March 11. Key details: - Payments for beneficiaries with birthdays on the 1st through the 10th are scheduled for March 11. - Payments are typically sent by direct deposit, and the SSA advises allowing up to three business days before reporting a missing payment. - Monthly benefit amounts vary by lifetime earnings and the age at which benefits begin; example figures cited include about $2,969 at age 62, $4,152 at full retirement age, and $5,181 at age 70 for a maximum-earner scenario. - The average monthly benefit for a retired worker was reported as $2,071.30 as of December. - Analysts are already offering projections for the 2027 cost-of-living adjustment, with estimates ranging from about 1.2 percent to 3.1 percent. Summary: These scheduled payments will reach beneficiaries with early-month birthdays as part of the SSA's staggered distribution system. Forecasts for the 2027 COLA vary and the final adjustment is undetermined at this time.