Social Security is issuing another payment of monthly benefits this week, and the money will arrive for those who are eligible on Monday, Aug. 3.
Over 70 million Americans receive Social Security benefits, but the date of the benefit is determined by the type of benefit and the age at which a person began receiving benefits.
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Who Will Receive Social Security Payments on August 3?
The August 3 payment is scheduled for:
- Individuals who are receiving Supplemental Security Income (SSI) and Social Security.
- People who have been collecting Social Security benefits prior to May 1997.
The SSA suggests waiting 3 business days before reaching out with a delayed payment.
How Much Can Social Security Recipients Receive?
Each beneficiary receives a benefit based on his or her earnings history and age at which he or she starts receiving benefits.
For 2026, the maximum monthly retirement benefits are:
- Up to $2,969 for those who claimed benefits at age 62.
- Up to $4,152 for those who claimed at full retirement age.
- Up to $5,181 for those who delayed claiming until age 70.
The average monthly retirement benefit is approximately $2,024.77.
August 2026 Social Security Payment Schedule
The remaining Social Security payment dates for August are:
- August 12: Birthdays between the 1st and 10th
- August 19: Birthdays between the 11th and 20th
- August 26: Birthdays between the 21st and 31st
SSI Maximum Payment for 2026
Supplemental Security Income (SSI) is a needs-based benefit that is paid to those who have a limited income and resources and meet the criteria for eligibility.
The maximum federal SSI payments can be $994 a month for an individual in 2026, but they may be smaller than that based on the individual’s financial circumstances.
2027 COLA Forecast
The Senior Citizens League estimates that the initial cost-of-living increase (COLA) for 2027 might range from 3.8%.
The final adjustment will be made using inflation data gathered in July, August, and September.
Funding Challenges Remain
Meanwhile, policymakers are still working on the long-term finances of Social Security. If Congress does nothing, the retirement trust fund could run out by 2032, according to projections cited by the Committee for a Responsible Federal Budget.
If that happens, benefits would be confined to income from the payroll tax, which the group believes would be reduced automatically by approximately 22% under current law.
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