A new round of Social Security payments is set to be issued this week to some beneficiaries. Read More on NewsSocial Security Payment This WeekA round of Social Security payments will be made on Monday, August 3, for two types of beneficiaries:Supplemental Security Income recipients who also collect Social Security. Those who have been claiming Social Security benefits since before May 1997. Social Security retirement benefits are calculated using a person’s earnings record and the age at which they begin collecting payments. The average monthly Social Security retirement payment is $2,024.77.