By Raúl Rodríguez Cota
Mar 31, 2024, 7:46 PM EDT
The first of three April Social Security payments, worth up to $4,873 for higher-earning retirees who retire at age 70, will be sent to the first group of retirees in 10 days.
Payment will be made on April 10 to beneficiaries born between the first and the tenth day of any month of the year.
Those people born on or after the 11th of any month of the year will receive their checks in one of the two payments made later, on April 17 or 24.
The maximum amount retirees can receive depends on certain factors, such as the amount they have paid into Social Security, the number of years they have paid into the program, and their age at the time they file for retirement, which is the most important factor.
The highest amount a senior who retires at age 70 can receive is $4,873 per month.
People who retire at full retirement age, which is age 67, have a maximum payment of $3,822 a month, according to the SSA.
People who retire at the earliest possible age, which is age 62, can only receive up to $2,710 per month.
This year’s payments include a 3.2% increase compared to 2023 monthly payments, as part of the annual cost of living adjustment.
Not all beneficiaries will receive the maximum amount, so a more personalized amount of what each person can expect each month can be found through the SSA calculator.
Keep reading:
– Social Security: which retirees will receive $2,710 in just 4 days
– Social Security: who is eligible to collect $1,412 soon
– Social Security: who will receive $943 tomorrow, Monday, April 1