Business & Finance
Thu, December 25, 2025
Wed, December 24, 2025
Tue, December 23, 2025
Your First Social Security Check in 2026: What You Need to Know
//business-finance.news-articles.net/content/202 .. ecurity-check-in-2026-what-you-need-to-know.html
Published in Business and Finance on Thursday, December 25th 2025 at 6:39 GMT by Investopedia- 🞛 This publication is a summary or evaluation of another publication
- 🞛 This publication contains editorial commentary or bias from the source
Your First Social Security Check in 2026: What You Need to Know
For those born in 1964, 2026 will be the year you become eligible to receive your first Social‑Security retirement benefit. The month you turn 62 will dictate exactly when your first check arrives, but the underlying numbers, timing, and options are largely set by the rules that the Social Security Administration (SSA) publishes annually. Below is a comprehensive rundown of what to expect for your 2026 first benefit, how to calculate it, and what factors may change the amount you actually receive.
1. When Will You Receive Your First Check?
The SSA pays benefits for the month after the month in which you become eligible.
- If you turn 62 in January 2026 – your first benefit will be posted in February 2026.
- If you turn 62 in December 2026 – your first check will arrive in January 2027.
You can apply as early as 90 days before you turn 62. It is highly recommended to apply at least 6‑12 months in advance so the SSA has time to process your claim and set up direct deposit. You can do this online through the “Apply for Retirement Benefits” section of the SSA’s My Social Security portal.
2. What Will the Benefit Amount Look Like?
The SSA estimates the average monthly benefit for a 2026 retiree who claims at full retirement age (FRA) based on current earnings records and projected COLA increases. The key figures are:
| Age | FRA | Estimated Monthly Benefit (2026) |
|---|---|---|
| 62 (early claim) | 66 10/12 | ~$1,950 (≈ 67 % of FRA benefit) |
| FRA (66 10/12) | 66 10/12 | ~$2,912 |
| 70 (delayed claim) | 66 10/12 | ~$3,708 (≈ 127 % of FRA benefit) |
These amounts are estimates. The actual benefit you receive could be higher or lower depending on the COLA announced for 2025 and any changes to the Social Security law in the interim.
3. How Does the COLA Affect Your 2026 Benefit?
The SSA announces a cost‑of‑living adjustment (COLA) each December that is applied retroactively to the next year’s benefits. The 2024 COLA was 3.4 %, and the 2025 COLA is still pending as of this writing. The expected range for 2025 is roughly 7–9 %, but the exact figure will only be known at the end of 2024.
If the 2025 COLA is 8 %, the 2026 benefit for someone who claims at FRA would increase by that percentage, taking the 2026 estimate from $2,912 to approximately $3,140. For those claiming at 62, the increase would be similar but applied to the $1,950 figure.
Tip: Use the SSA’s Retirement Estimator to plug in your actual earnings record and get a personalized projection that automatically incorporates the latest COLA information.
4. Early vs. Delayed Retirement
Early Claiming (age 62):
- Reduces monthly benefit by about 0.667 % per month for 48 months, roughly a 32 % cut.
- Useful if you need income immediately or expect to work less in the future.
Delayed Claiming (age 70):
- Increases benefit by about 8 % per year after FRA, up to 70 years old.
- For a 2026 retiree, waiting from FRA (66 10/12) to age 70 adds roughly 26 % to the FRA benefit, turning $2,912 into $3,708.
The SSA offers a “benefit calculator” that shows how different claiming ages affect your monthly payout and lifetime total.
5. Spousal and Survivor Benefits
If you are married, you may be eligible for spousal benefits equal to 50 % of your spouse’s full benefit. This can be claimed as early as 62, with the same reduction formula applied.
- Example: If your spouse’s FRA benefit is $3,000, you could receive $1,500 at age 62 (≈ 67 % of the spousal benefit).
- Spousal benefits can be postponed until the age of 70 for a larger payout.
Survivor benefits apply if your spouse dies while you are still working. The survivor’s benefit can be up to 100 % of the deceased’s benefit and is not affected by the same early‑claim reduction.
6. Taxes, Direct Deposit, and Record Keeping
- Taxation: Up to 50 % of your Social Security income is taxable if your combined income (adjusted gross income + nontaxable interest + half of Social Security) exceeds $25,000 (single) or $32,000 (married filing jointly).
- Direct Deposit: Nearly 95 % of beneficiaries use direct deposit, which ensures you receive checks on time without mailing delays.
- My Social Security Account: Keep a record of your earnings history and benefit estimates. Any errors can be disputed and corrected online.
7. What to Do Next
- Create or log into your My Social Security account.
- Run the Retirement Estimator with your most recent earnings data.
- Decide when to claim (62, FRA, or 70) based on your financial needs and health status.
- Apply at least 6‑12 months early to avoid any processing delays.
- Set up direct deposit and verify your banking information.
Bottom Line
Your first Social Security check in 2026 will be based on your birth year, earnings record, and the COLA announced for 2025. The SSA’s 2026 benefit estimates put a FRA retiree at roughly $2,912 per month, with an early‑claim option at about $1,950 and a delayed‑claim option at $3,708. By understanding the timing, cost‑of‑living adjustments, and claiming strategies, you can maximize your benefit and prepare for a smooth transition into retirement.
Sources: Social Security Administration’s “Retirement Estimator,” “Benefit Calculators,” and the 2024 COLA announcement.
Read the Full Investopedia Article at:
[ https://www.investopedia.com/your-first-social-security-check-in-2026-what-to-expect-11852580 ]
