Overview

• Social Security payments for May 2025 will be distributed on May 14, 21, and 28, based on beneficiaries' birth dates.
• Retirees can claim benefits starting at age 62, receiving up to $2,831 per month, or delay until age 70 for a maximum of $5,108 per month.
• The average retirement age in the United States remains 62, despite longer life expectancies and financial incentives to delay claiming benefits.
• Social Security funding is projected to cover only 77% of benefits within the next decade unless Congress takes action to address the shortfall.
• China is planning gradual retirement age increases over the next five years to address similar pressures from an aging population and rising life expectancy.