According to the schedule given by the Social Security Administration, retirees who were born at the beginning of the month will receive the first installment of three Social Security payments for July. The amount of this first installment can be up to $4,555.
The first Social Security payment will be issued on July 12 and will be given to people born between the 1st and 10th of any month. The following monthly payments are made on Wednesday of the second, third and fourth week of each month.
Each retiree will receive a paycheck each month, but the date recipients receive their share depends on the day of the month they were born.
The first payments are for people born between the 1st and 10th of any month. The second payment is for those born between the 11th and 20th, and the third payment is for those born after the 21st of each month.
The maximum amount of money a beneficiary receives varies depending on their age at retirement.
People who retire at age 62 receive monthly payments of up to $2,572, while those who retire at age 67 get a maximum benefit of $3,627.
People who delay retirement until age 70 get the highest maximum payment of up to $4,555 per month, according to Social Security data.
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