Social Security checks up to $4,555 in August 2023: Who will receive them and when?
Some Social Security beneficiaries may be entitled to receive up to $4,555 each month. Find out who will receive them in August, and when the dates are.
Each month, millions of beneficiaries receive money from the Social Security Administration, many of them retired workers and survivors.
The SSA also sends out disability benefits which include the Supplemental Security Income (SSI) program and Social Security Disability Insurance.
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Social Security: How much money is sent each month?
Amounts of payments vary from beneficiary to beneficiary. SSA calculates payments on an individual basis based on various factors. For retired workers, payments are affected by age. Also, benefits change each year due to cost-of-living adjustment.
This year, average payments from the Supplemental Security Income program around $550 per month. The maximum monthly SSI benefit is up to $914 for an individual and $1,371 for a married couple where both spouses are eligible for the program.
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Meanwhile, retirees’ median monthly payments rose to $1,827, revealed the SSA in January. The maximum benefit for those who retire at age 62 is $2,572 a month and $3,627 for workers who retire at full retirement age (67).
Individuals who delay retirement until age 70 may be eligible for a maximum benefit of $4,555 if they meet work and income requirements.
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Social Security checks up to $4,555 in August 2023: Payment dates
Based on SSA’s payment schedule, on August 1, SSA sent Supplemental Security Income (SSI) benefits. The rest of the August payments are sent as follows:
- August 3: Payees who began receiving their payments before May 1997
- August 9: Beneficiaries with a date of birth between the 1st and 10th of the month
- August 16: Beneficiaries with a date of birth between the 11th and 20th
- August 23: Beneficiaries with a date of birth between the 21st and 31st
Payments are sent via direct deposit to recipients who have provided a bank account to SSA. The rest of the payments are sent by postal mail, so they may take more days to arrive.