Second round of November’s Social Security payments is going to be received by millions of retired seniors in four days who got retired at 70 years of age.
This payment is going to be paid in three parts- first is to the persons who born between 11th and 20th of a month will be going to receive the payment on November 15,2023. Second is to the persons who born on or after 21st of the month will get their payment on November 22,2023. The third had already paid on Wednesday who born between 1st and 10th of the month.
The payment is going to be sent out in three disbursement on second, third and fourth Wednesdays of each month by Social Security Administration.
The maximum amount of payment of each Social Security payment is varying among the retired persons based on their ages. For example; those who got retired at their 62 are the youngest retired person and will get payment up to $2,572 per month, those who are retiring at 70 can receive up to $4,555 per month, according to SSA.
These regular retirement checks are completely different from those other payments which are given out by the SSA including disability insurance or Supplemental Security Income.
Being a part of the program’s annual adjustments these payments would rise by 3.2% next year based on inflation, according to SSA. The increment percentage of this payment will be same to the increment of other kind of payments such as disability pay or social security income.