The Social Security Administration will distribute the first batch of February retirement benefits, valued up to $4,555, to claimants on Wednesday, with two more payments following later this month.
The amount a recipient will receive from these payments will depend on when they chose to retire and start receiving Social Security benefits.
Social Security Payments Schedule
A person must have retired when he or she was 70 to receive the highest payment of $4,555. Recipients who retired at 67 will receive a maximum check of $3,627, and anyone who retired at 62 will get up to $2,572, according to the SSA.
The Social Security Administration (SSA) pays out retirement benefits in three installments, beginning on the second Wednesday of each month.
According to the administration’s calendar, the first payment will be made on Wednesday to recipients who were born between the first and tenth of the month.
Other recipients’ remaining retirement payouts will be distributed on the following Wednesdays in February. Recipients born between the 11th and 20th of the month will be paid on Feb. 15, while those born between the 21st and 31st of the month will be paid on Feb. 22.
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Other Benefits
Regular Social Security benefits are based on earnings made during a recipient’s lifetime and are not subject to income or resource constraints.
The SSA’s retirement payments are distinct from other payments made by the government, such as disability insurance or Supplemental Security Income, with the latter program having already sent its February payment on Wednesday.
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