The first round of the Social Security Administration's retirement payments for March, worth up to $4,555, will be sent to retirees in just 12 days.
The first round will be issued on March 9 to recipients born between the first and 10th of a month. Social Security retirement payments are sent in three waves, with each wave coinciding with the 10-day block of the month that recipients were born in. Payments are always issued on Wednesdays.The second round of payments, for those born between the 11th and 20th of a month, will be sent on March 16, according to the Social Security Administration's calendar.
The amount recipients receive from these payments depends on their age of retirement and when they started receiving the benefits. The highest payment goes to people who retired at the age of 70. Recipients who retired at 67 receive a maximum of $3,627 each month, and anyone who retired at 62 will get up to $2,572, according to the SSA.The retirement payments are separate from other SSA payments, such as disability insurance or Supplemental Security Income.
The amount of money retirees receive in social security is subject to change if Congress does not solve the program's funding problem by 2034. Advancements in science and medication allow retirees to take part in Social Security benefits longer than expected and play a role in this problem.
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