Social Security in the United States to make history next week with new benefits for retirees
Starting next week, Social Security in the United States is set to reach an unprecedented milestone: for the first time in its nearly 90-year history, the average monthly payment for retired workers will exceed $2,000. This is what the upcoming Monthly Statistical Snapshot from the Social Security Administration (SSA) is expected to confirm, reflecting data for the month of May. While this figure marks a symbolic step forward for millions of older adults, behind this so-called “historic achievement” lie economic challenges that should not be overlooked.
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A historic milestone for Social Security, but no cause for celebration
According to the latest SSA data, the average monthly payment for a retiree in April 2025 was $1,999.97—just a few cents short of breaking a significant psychological barrier. All signs point to the next report revealing that the average has now reached and surpassed the $2,000 mark, an unprecedented event since the system was established in 1935.
This increase is driven by several factors:
- The steady influx of new beneficiaries with higher lifetime earnings,
- The passing of recipients who received lower benefits,
- Annual cost-of-living adjustments, known as COLA.
The monthly payment for retired workers will exceed $2,000
What does this increase mean for retirees?
While the $2,000 monthly figure may seem like good news, for many retirees this income barely covers the essentials. In fact, according to a report by the Center on Budget and Policy Priorities, Social Security lifted 22 million people out of poverty in 2023—most of them over the age of 65. That means, for a growing number of Americans, the Social Security check isn’t a bonus—it’s a financial lifeline.
Additionally, Gallup surveys show that between eight and nine out of every ten retirees rely either fully or partially on Social Security to cover their expenses.
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Little-known strategies to maximize benefits
Given this landscape, there are little-known strategies that can help retirees boost their annual income—such as Social Security’s so-called “hidden bonus”. This refers to a potential additional income of up to $23,760 per year that many Americans miss out on, often because they fail to optimize the age at which they claim their benefits or are unaware of certain entitlements that may apply to them.
Here are some key tips for getting the most out of Social Security:
- Delay retirement until age 70, which maximizes your monthly payments.
- Review your work history and correct any errors that might impact your benefit calculation.
- Claim spousal or survivor benefits, if eligible.
- Consult with advisors who specialize in retirement and tax planning.
Social Security was designed as a safety net for older workers and remains one of the most critical institutions for preventing poverty among retirees. However, its annual adjustment formula and its real ability to provide a dignified retirement are increasingly being called into question by today’s economic realities.