Since at least 2012, a persistent internet rumor has claimed that U.S. Social Security payments are being renamed as "Federal Benefit Payments." In August 2025, the rumor spread again in various lengthy Facebook posts describing the change as a "Ponzi scheme" being carried out by the federal government.

For over 70 million Americans, Social Security is a vital source of monthly income. Payments are distributed throughout the month based on birth dates, ensuring efficient management of transactions.

The second wave of Social Security payments go out Wednesday. Those who receive SSI benefits will get two checks in August due to the timing of the Labor Day holiday.