Social security beneficiaries across the country are set to receive their payments this week.

Per Newsweek, people born between the 21st and 31st of any month are getting their payments beginning on Wednesday.

The Social Security Administration data revealed that the retirees received about $2,002.39 in May. This is the first time that the payment has passed the $2,000 mark, according to Newsweek.

“The average Social Security benefit amount changes monthly,” a spokesperson for the Social Security Administration told Newsweek. “Social Security benefits are based on a worker’s highest 35 years of earnings. As wages tend to rise over time, each new group of retirees raises the average benefit amount, since their benefit calculations typically reflect higher earnings.”

The amount a person receives can also depend on their lifetime income and other factors, such as the age they started to get benefits. At 62, retirees can get up to $2,831 per month. If they wait until age 67, however, they can get up to $4,018. People who wait until age 70 can get a maximum of $5,108 per month.

When are the July payments being sent for Social Security beneficiaries?

In July, the Social Security Administration will send payments on the 1st, 3rd, 9th, 16th and 23rd. While the July payment is for SSI payments, the July 3 checks are for people who have been getting checks since before May 1997. The July 9 payment is for retirement, spousal and survivor beneficiaries born between the 1st and 10th of any month. On July 16, benefits will go out to people born between the 11th and 20th. Retirees born between the 21st and 31st get their payments on July 23.

What is the cost-of-living adjustment for 2026?

In 2026, recipients can expect to see a 2.5 increase to their benefits, Newsweek reported. This is due to the annual cost-of-living adjustment, which is calculated according to inflation (COLA). The Social Security Administration will officially announce next year’s COLA in October.