Social Security checks up to $4,555 in July 2023: Who will receive them and when?

Every month, the Social Security Administration issues million compensation agency beneficiarieswhich usually includes retired workers, as well as people with some kind of disability.

The exact amount will depend on each person’s particular situation. In the case of workers, the amount received is linked to year workedTHE salary received during that time, and the age of the worker when they requested their retirement.

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Different Social Security payments

The median salary for a retired worker is $1,801 per month. However, those who claim the benefit at a minimum age of 62 can receive a maximum benefit of $2,572, depending on their status; while those who do so at full retirement age, that is, at age 67, will receive a maximum monthly payment of up to $3,627 per month.

Although the ideal is to receive Social Security checks throughout retirement age, some people prefer to continue working a few more years to receive a higher pension. Those who extend their retirement age up to 70 or older may qualify for a maximum payment of $4,555.

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Social Security check up to $4,555 in July 2023: Who will get it?

In addition to applying for retirement at age 70 or later, other requirements to reach the $4,555 payment are: worked at least 35 years and earned a salary for each of those 35 years, plus paying Social Security payroll taxes on the highest taxable income in those 35 years of highest income.

By what date are payments due?

The payment schedule is linked to date of birth of beneficiaries. Those who are born from days 1 to 10 receive checks on the second Wednesday of the month, while those with a date of birth between the 11th and 20th will receive it on the third Wednesday. Those born from days 21 to 31 are the last to receive the money.

This schedule does not apply to Supplemental Security Income (SSI) recipients, because they receive payments on time the first days of the month regardless of their birth date. Beneficiaries who retired before May 1997 will receive it in the first week of the month.

Here is the the payment schedule for the month of July:

• June 30: SSI Recipients (July Payment)
• July 3: Payers who started receiving their payments before May 1997
• July 12: Beneficiaries with date of birth between 1st and 10th
• July 19: Beneficiaries with a date of birth between July 11 and 20
• July 26: Beneficiaries with a date of birth between 21 and 31