Average Social Security Payment for June 2025
As of June 2025, the average monthly Social Security retirement benefit is $1,950.27, or about $23,400 per year, according to the Social Security Administration (SSA). This reflects a 2.5% cost-of-living adjustment (COLA) applied in January 2025, which increased the average retiree’s benefit by roughly $50 per month. Payments vary based on factors like claiming age, earnings history, and gender, with men averaging about $454 more per month than women due to higher lifetime earnings. For couples where both receive benefits, the average monthly payment is approximately $3,089.
Changes for 2026
- Estimated COLA for 2026: Early projections suggest a 2026 COLA of around 2.4%, based on inflation trends and data from the Senior Citizens League. This would increase the average retiree’s benefit from $1,950.27 to approximately $1,997.07, adding about $47 per month. The final COLA will be confirmed in October 2025, based on the Consumer Price Index for Urban Wage Earners (CPI-W).
- Taxable Earnings Cap: The maximum earnings subject to Social Security payroll tax is expected to rise from $176,100 in 2025 to a higher amount in 2026, adjusted for inflation. The exact figure will be announced later in 2025.
- Earnings Limits for Early Retirees: For those under full retirement age (FRA) collecting benefits, the earnings limit will likely increase from $23,400 (2025) to account for wage growth. Benefits are reduced by $1 for every $2 earned above this limit. For those reaching FRA in 2026, the limit will also rise from $62,160, with a $1 reduction for every $3 earned over.
- Full Retirement Age (FRA): For individuals born in 1960, the FRA is 67, which they will reach in 2026 or later. This affects benefit calculations for those claiming early (as early as 62, with reduced benefits) or delaying until 70 (for higher benefits).
- Potential Program Reforms: Ongoing SSA funding challenges and demographic shifts may lead to reform discussions in 2026, focusing on adjusting inflation measures (e.g., switching from CPI-W to CPI-E for retirees) or tweaking benefit formulas to maintain solvency. No specific changes are confirmed, but these debates could impact future benefits.
Additional Notes
- Payment Schedule: June 2025 payments follow the standard schedule: June 3 for pre-May 1997 beneficiaries or SSI recipients, June 11 for birthdays 1st–10th, June 18 for 11th–20th, and June 25 for 21st–31st. The 2026 schedule will likely be similar, with adjustments for holidays/weekends.
- SSI Adjustment: SSI payments, averaging $714 monthly, also received a 2.5% COLA in 2025. A similar adjustment is expected for 2026, pending inflation data.
- Medicare Premiums: Increases in Medicare Part B premiums for 2026 could offset some COLA gains, as premiums are deducted from Social Security payments. Details will be available later in 2025.
