Social Security update: Next June installment of $4,873 disburses in two days
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The second of three rounds of June’s Social Security payments, worth up to $4,873 for those who retire at 70, will be sent out to retirees on June 18.
Retirees born between the 11th and 20th of the month will be receiving their payments in just two days. The third round of payments will be sent on June 26 to retirees born on or after the 21st of the month.
Each recipient will receive one check. The maximum amount a retiree is entitled to receive depends on retirement age, the amount he or she paid into Social Security, and how long he or she paid into the program.
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Those who retire at 70 can receive up to $4,873 per month. Retiring at the full retirement age of 67 will give someone a maximum benefit of $3,822 per month, and people who retire at age 62 can only receive up to $2,710 a month.
Payments in 2024 are adjusted by 3.2% from 2023 to reflect cost-of-living increases due to inflation.
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