$1,681 Payments To Be Sent Out In Five Days Directly to Monthly Benefits
There are millions of Social Security beneficiaries with birthdays falling between the 1st and 10th of each month receiving direct payments worth $1,681 in less than one week.
There are three rounds of check payment for retirees which starts with the first round on Dec. 14, with the highest paycheck worth $4,194. The amount which retirees receive is dependent on the age of retirement according to the published post by Smartnews. As such, someone who retired at 70 could receive the full $4,194. On the other hand, someone who retired at 62 could receive a maximum of $2,364.
There will still be a second wave of checks which will be sent out one week later, on the third Wednesday of each month, for those born on the 11th through 20th of their birth months. The payment for this month is set to be sent to that group on the 21st of December.
There Are Still More Benefits To Come
The fourth Wednesday of the month will be the schedule for the third wave of payments. For those born on the 21st through 31st of their birth months, according to the Social Security Administration, the money will be sent on Dec. 28.
Due to inflation, the recipients will receive an even larger amount next year. Currently, the average amount being received is $1,681. But that will change by $146 to $1,827 a month in January. 1981 was the last time Social Security saw a dramatic increase when the cost of living adjustment was 11.2%.