People who retired after age 70 will start getting their March benefits from the Social Security Administration (SSA) in the coming days. These benefits can add up to $5,108 a month for those who did so. People who were born before the 10th of any given month will get their money on March 12, 2025. People who were born between the 11th and 20th of any given month will get their money on March 19, and people who were born after the 20th of any given month will get their money on March 26.
People born on this date could all get $5,108 from the SSA
An older person’s Social Security income is mostly based on how old they are when they retire, how much they paid into the system while they were working, and how long they paid into it. The Social Security Administration (SSA) says that people who retire at age 62 can get up to $2,831 a month, while people who wait until age 70 can get up to $5,108 a month. The SSA’s calculator lets people get a personalized idea of how much they will have to pay each month.
Anyone living in the U.S. who is at least 62 years old can get Social Security benefits, but the amount they get depends on when they retired. The Social Security system is paid for by payroll taxes that both companies and workers pay. Fears have been raised that Social Security payments could be cut in the future if Congress does not do something to stop this. It is thought that the system might stop giving full payouts to beneficiaries in 2034 because more people are retiring and fewer people are working.
When will people who get benefits from the SSA get them in March?
The Social Security payment plan says that this month, benefits will be sent to millions of people at different times. Here are all the confirmed times when people who get Supplemental Security Income (SSI) or Retirement, Survivors, and Disability Insurance (RSDI) will get their money:
- February 28th, Friday: Because March 1st happened on a weekend, SSI recipients got their March benefits early.
- If an RSDI recipient claimed their benefits before May 1997, they got them on March 3, 1997, a Monday.
- Wednesday, March 12: People who were born between January 1 and March 10 will get their RSDI payments.
- Wednesday, March 19: People who were born between March 11 and March 20 will get their RSDI payments.
- On March 26 (Wednesday), people who were born between March 21 and March 31 and get RSDI will get their money.
Beneficiaries should not have to pay taxes to the SSA
For millions of seniors, Social Security payments are an important part of their monthly income. They use them to pay for everything from medical bills to basic needs. Because of this, all recipients should learn about all of their tax duties with the Social Security Administration (SSA) so that they don’t have any problems in the future. But one question that comes up a lot is whether or not they have to report such perks as taxes. The answer is different for each person based on their total pay. You likely don’t need to file a tax return if Social Security is your main source of income. You don’t need to file taxes if your gross income is less than $16,550, you are single, and you are 65 years or older.
When married people over 65 file equally, they can’t owe more than $32,300. You might have to file, though, if you get extra money from stocks, a part-time job, a pension, or 401(k) dividends. In some cases, your “combined income” is made up of your adjusted gross income plus interest that is not taxed and half of your Social Security payouts.