The Social Security Administration (SSA) announced the schedule as to when the Social Security Benefits will be released this June 2023.
Social Security Benefits Schedule
The Social Security Benefit is one of the sources of money for retirees and their beneficiaries in the country. Recently, the Social Security Administration announced the schedule as to when they will release the Social Security Benefits this June 2023.
In a published article in Washington Examiner, Social Security Benefits are usually released every 2nd, 3rd, and 4th Wednesday every month. The first batch of payments will be released this June 14 and those whose birthdates fall between 1 to 10 will first receive the Social Security Benefits.
Additionally, those whose birthdates fall between 11 to 20 will receive their benefits on June 21. Lastly, those whose birthdates fall between 21 to 30 will receive their benefits on June 28.
How Much Each Retiree and Beneficiaries Will Receive?
According to a report published in MSN News, the amount of Social Security Benefits that each person will receive varies depending on the age of their retirement. Those who retire at the following age will receive the following amounts:
- If they will retire at the age of 62, they will receive a monthly payment of $2,572.
- If they will retire at the age of 67, they will get a maximum payment of $3,627.
- If they will retire at the age of 70, they will get the highest maximum payment worth $4,555 per month
Furthermore, the retirement age in the country is 67 years old but some lawmakers proposed raising the age of retirement to 70.