According to the Social Security Administration’s schedule, the first of June’s three Social Security payments, which total $4,555, will be sent out in more than two weeks.
The recipients of the money, who were born between June’s first and tenth, will receive it on June 14, the second Wednesday of the month.
Social Security Payment Schedule and Amounts
The second, third, and fourth Wednesdays of each month are when payments are due. According to their age at retirement, each beneficiary receives a unique amount of money.
SSA, recipients who retire at age 62 can earn up to $2,572, those who retire at age 67 can receive up to $3,627, and those who wait until age 70 can receive the highest amount of $4,555 each month.
On June 21, one week after the first distribution, retirees who were born between June 11 and June 20 will get the second dividend.
The last Wednesday of the month, June 28, will see the release of the last wave. Those who were born after the 21st of a month will receive it.
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Potential COLA Adjustments
The cost-of-living adjustment for Social Security recipients might drop significantly from the 8.7% they would have received for 2023 to only 3.1% the following year.
The consumer price index for urban wage earners and office workers serves as the foundation for the yearly COLA.
The retirement age in the United States is now 67, although some lawmakers have suggested raising it to 70.
In addition to ordinary Social Security benefits, SSI payments are made. Adults and children with blindness or another impairment who have a low income are eligible for the program’s monthly payments.
To be eligible for SSI, a person must be at least 65 years old, completely or partially blind, or have a physical or mental condition that has severely limited their ability to engage in ordinary activities for at least a year or that has the potential to cause death.
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