Social Security transfer: The second part of the direct deposit is worth $4,555 and will arrive in two days. Personally, its price is an interesting $4,555.
The second payment will be made on October 18 for those born between the 11th and 20th of the month of birth. The third and final group will receive a check a week later, on October 25th, for those born on or after the 21st of the month. Checks have already been received for people born between the 1st and 10th of the month of birth. All buyers will receive a check.
In order to benefit from the assistance, the person must have paid SSI premiums for at least 10 years.
Social Security benefits are based on a person’s earnings throughout his career. The maximum amount people can receive will vary depending on their retirement age. Retirees at current retirement age (67) can receive checks of up to $3,627 per month, those retiring at age 62 can receive checks of up to $2,572, and those who postponed retirement until age 70 can receive checks of up to $4,555 per month. Social Security Administration.
Regular Social Security checks are different from other payments from the SSA, such as Disability Insurance or Supplemental Security Income. The cost of all benefits, SSI and retirement checks is expected to increase by 3.2 percent.
Analysts predict Social Security could go bankrupt as soon as 2034 if Congress doesn’t act to stop it. predicts that it can. Any changes to the program will not affect people who currently receive Social Security.