Social Security payments to go electronic starting next week as agency moves away from paper checks

After 85 years of sending out paper checks to retirees, the Social Security Administration (SSA) is transitioning to electronic payments in what it says is an effort to modernize its services and improve efficiency.

Starting Sept. 30, the SSA will no longer issue paper checks to its nearly 70 million recipients, instead sending benefits through either direct deposit or a prepaid debit card.

"We have been communicating directly with beneficiaries since July 1, and we have worked diligently to ensure that the less than one percent of individuals who receive paper checks have ample time to enroll in direct deposit or receive Direct Express cards," a Social Security spokesperson told CBS News in an email on Tuesday.

"By moving to electronic payments exclusively, we aim to improve efficiency