The Social Security Administration (SSA) will distribute the second round of September payments, worth up to $4,873, on Wednesday. The agency sends monthly checks to retirees to supplement or replace their incomes once they stop working. Social Security payments typically arrive on the second Wednesday of every month, with the remaining payments distributed in the subsequent weeks.
The date of distribution depends on the retiree’s birth date. Retirees born between the 1st and 10th of any month received their payments on Sept. 11.
Beneficiaries born between the 11th and 20th will receive their checks on Sept. 18, and those born on or after the 21st will be paid on Sept. 25.
Latest Social Security payment schedule
The amount beneficiaries receive depends on several factors: the age at which they retire, how much they paid into Social Security, and the duration of their contributions. Retiring at the youngest age of 62 could provide up to $2,710 per month, while delaying retirement until age 70 increases the amount to up to $4,873 per month.
Beneficiaries can use the SSA’s calculator to see a personalized estimate of their expected monthly payments. Citizens become eligible for Social Security payments starting at age 62. Social Security is funded by a payroll tax, paid by both employers and employees.
Payment amounts are projected to decrease unless Congress takes action. Analysts warn that the SSA may not be able to issue full payments to recipients as early as 2034 due to an increasing number of retirees and a declining workforce. The Social Security Act was signed into law by President Franklin D.
Roosevelt in 1935, creating the Social Security Administration (SSA) to manage it.
