By Raúl Rodríguez Cota
24 Sep 2023, 17:36 PM EDT
In four days, the last group of retirees will receive the third batch of September Social Security payments, which can be up to $4,555 for those who retired at age 70.
People receive Social Security payments three times a month. Those born after the 21st of any month get their payment on the second Wednesday of each month.
On September 7, a special group of seniors received their payments. This group is made up of those who obtain income from two different sources, one known as Supplemental Security Income and another payment that is the Social Security payment that is given to all retirees.
It was also received by older people who retired before 1997 and retirees living abroad.
The maximum payment amount a retiree can receive depends on important factors such as the age at which they retired, the amount they contributed to Social Security, and the length of their contribution to the program.
The age at which beneficiaries choose to retire is one of the most important factors.
If you decide to retire at age 62, you could receive up to $2,572 per month, but if you wait until age 70, you could get up to $4,555 per month.
Those who retire at full retirement age, which is 67, receive a maximum check of up to $3,627 per month.
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· COLA 2024 on Social Security checks: which beneficiaries will be the first to receive payments with the Cost of Living Adjustment?