More than 70 million payments per month are provided by the Social Security Administration (SSA) for the beneficiaries of the Social Security program.
These people are mostly retired workers, and the average payment they receive is about $1827.00 USD.
However, for those waiting to reach full retirement age, there is the possibility of collecting up to $4,555.00 USD as a maximum benefit.
It is important to note that, in 2023, the minimum retirement age will be 62 years. Meanwhile, the full age is 67 years old and the highest is 70 years old and above.
Similarly, the amount of money earned will depend on age, years worked, and salary received over the years. Also added to these factors is the amount of taxes paid to Social Security during the same period.
In this sense, depending on the beneficiary’s date of birth, SSA issues checks every Wednesday, every month. In other words, those born between the 1st and 10th will receive the money on the second Wednesday of the month.
Likewise, those with a birth date between the 11th and 20th will receive it on the third Wednesday. Meanwhile, those born from the 21st to the 31st, will receive their payment on the last Wednesday of the month.
It is worth noting that those who retired before May 1997 will not fall under the previous scheme. Neither are Supplemental Security Income (SSI) beneficiaries, because they receive the money on the first days of the month.
Who will receive payments from November 22?
Retirees born between the 21st and 31st of the month will receive an estimated payment of $1,800.00 USD on Wednesday, November 22. To do this, the payment schedule will be considered, as well as the average amount for a retired worker.