Social Security update: Direct payment worth up to $4,555 goes out to millions in 17 days

In 17 days, millions of retirees will receive the first round of April’s Social Security Administration retirement payments, worth up to $4,555.

On Wednesday, April 12, the first round may be made available to those who were born between a month’s very and eleventh. According to the SSA’s program, retirees receive three disbursements each month, but each woman only receives one payment that corresponds with the 10-day wall of the quarter in which they were born.

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The amount of money each victim receives is determined by their retirement age. People who retired at the age of 70 receive the highest payment, which is$ 4,555 per month. According to the SSA, recipients who retire at the age of 67 receive a maximum check of$ 3, 627, and those who do so at age 62 receive checks up to$ 2, 572.

On April 19, the next turn of payments will be made available to those who were born between the 11th and 20th of the previous month. For those who were born between the 21st and 30th of each quarter, the final cost for April will be made on April 26.

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Although the average retirement age is 67, people can take earlier retirement at 62 or put off retreat until 70.

If Congress does not decide how the system will become funded by 2037, people’s purchases may decrease. Congress has been debating the future of Social Security for decades, and recently, two senators from different parties proposed raising the retirement stage to 70.