If you’re like most Americans, you’ve probably planned on using your Social
Security check to cover at least a portion of your retirement expenses. These senior benefits
are crucial, so understanding when they’ll reach your bank account, how much
you’ll receive, and how to maximize your retirement check could make all the
difference between retirement success and failure.
Fortunately for your bottom line, June’s payments shouldn’t be different from
the previous month’s. Your check should be the same amount as in May and arrive
on the same schedule as usual. We review that schedule below, plus tips on what
else you could expect from your Social Security check this month.
June’s Social Security payment schedule
The Social Security Administration (SSA) changes its typical payout dates to
accommodate weekends and federal holidays. Luckily for punctual retirees, all of
June’s payment days fall on regular, non-holiday days of the week. This means
you’ll receive your check on the same schedule as always, which we outline here:
- Monday, June 1: Supplemental Security Income (SSI) payments
are made. - Thursday, June 3: Social Security payments are made to
households already receiving SSI payments and to individuals who retired prior
to May 1997. - Wednesday, June 9: Those born between the 1st and 10th days
of their birth month are paid. - Wednesday, June 16: Those born between the 11th and 20th
days of their birth month are paid. - Wednesday, June 23: Those born between the 21st and 31st
days of their birth month are paid.
There is one federal holiday in June: Juneteenth, which takes place on Friday,
June 19. Since all of June’s pay dates take place during regular weekday hours,
you should receive your check on time this month with no surprises.
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The maximum Social Security benefit possible
Most people don’t receive the highest possible Social Security benefit. However,
if you earned at or above the Social Security wage cap for 35 working years and
waited until age 70 to start claiming benefits, you’d be bringing home a
whopping $5,181 per month, which is the highest benefit amount it’s possible to
receive.
The average Social Security benefit
The average security check is far lower than the maximum possible amount, which
is $2,081.16. Depending on where in the country you live, that could be enough
money to squeak by, or it could be a pittance compared to the price of gas at
the pump these days.
How Social Security is calculated
To figure out how much to pay you, the federal government looks at the 35
highest-earning years of your working life. They use this number to come up with
your Average Indexed Monthly Earnings (AIME). The SSA then runs your AIME
through a progressive formula to determine your primary insurance amount (PIA),
which represents your full monthly benefit if you claim at your full retirement
age. Your PIA is then adjusted up or down based on when you claim: reduced if
you claim before your full retirement age (as early as 62), or boosted by
delayed retirement credits if you wait past it, up to age 70.
Your full retirement age
Your full retirement age (FRA) doesn’t refer to the age at which you retire from
your full-time career. Instead, it’s a legal determination used by the
government to determine how old you have to be to qualify for full Social
Security benefits, regardless of if you’re still working or not.
The full retirement age has increased steadily over the years, so while someone
born in 1943 could take full benefits at age 66, someone born from 1960 onward
can’t claim full benefits until age 67.
How applying for Social Security at 62 changes your benefit amount
While you’re allowed to apply for Social Security as early as your 62nd
birthday, the earlier you retire prior to your FRA, the lower your benefit
amount is going to be.
For instance, if you retired at age 62 but your FRA was 67, your benefit would
be cut by 30%. (This would bring a $1,000 benefit down to $700 a month.) If you
claim early, you commit to receiving that reduced benefit for the rest of your
life. It won’t increase as you age.
On the other hand, waiting until 70 to apply increases your monthly benefit,
which should give you a nice safety net in retirement.
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New Social Security changes to be aware of
If you receive your Social Security benefits through a Direct Express prepaid
debit card, a change is coming this summer. Fifth Third Bank has taken over as
the new financial agent for the Direct Express program, replacing Comerica Bank.
The roughly 3.6 million beneficiaries currently using a Comerica-issued card may continue using it for now, but they are going to receive a new Fifth Third Bank card over the
summer.
The most important thing you could do right now is make sure the SSA has your
current mailing address. Beneficiaries are going to receive advance notice of the
transition by mail, so keeping your contact information up to date is essential
to ensure you receive all communications. This is also a good moment to consider
switching to direct deposit, which would sidestep the card transition entirely.
Bottom line
Being smart about your benefits check is one of the best ways to save money in
retirement, so the earlier you start thinking about Social Security, the
better. If you’re struggling to decide when to start taking retirement benefits
or you’re not sure if you should take your spouse’s benefit check over your own,
it could be time to schedule a visit with a retirement planner, no matter how
far or close you are to actually retiring.
A trusted fiduciary could lay out all the expenses you should count on once you
retire, then help you crunch the numbers on a typical retirement. With their
help, you could make an intentional, informed choice about when to apply for
benefits instead of acting impulsively or without understanding your options,
two mistakes that are guaranteed to sink your otherwise successful retirement.
FAQs
What is the 2026 Social Security COLA increase?
The Social Security Administration applied a 2.8% cost-of-living adjustment (COLA) to benefits starting in January 2026. That means a beneficiary who received $2,000 per month in 2025 receives approximately $2,056 per month in 2026. COLA adjustments are calculated each fall based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
Can you collect Social Security and still work?
Yes, but your benefits may be temporarily reduced if you haven’t yet reached your full retirement age. In 2026, if you’re under full retirement age, the SSA deducts $1 from your benefit for every $2 you earn above $24,480 per year. Once you reach full retirement age, there’s no earnings limit — you can work as much as you want without any reduction to your benefit.
What time does Social Security direct deposit hit your bank account?
The SSA sends payment files to banks in the early morning hours, typically between midnight and 6 a.m. Eastern Time on your payment date. Most banks post the funds as soon as they receive the file, so many recipients find the money available when they wake up. Exact timing varies by financial institution — some regional banks and credit unions batch-process overnight payments and post them at their standard opening time.
What is the difference between Social Security and SSI?
Social Security retirement benefits are based on your work history — you earn them by paying into the system through payroll taxes over your working years. Supplemental Security Income (SSI) is a separate, need-based program funded by general tax revenues, not payroll taxes. SSI is available to people who are 65 or older, blind, or disabled and who have limited income and resources, regardless of their work history.
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Author Details
Josh Koebert
Josh Koebert has spent more than 16 years digging into the data behind how Americans earn, save, and retire. As a senior content marketer at FinanceBuzz, his work covers both ends of that challenge: the job market and real estate pressures that shape how much people can save, and the Social Security policies, 401(k) strategies, and retirement income gaps that determine what they’ll actually have when they get there.
