The Social Security Administration (SSA) pays more than $70 million per month to Social Security beneficiaries.
These individuals are mostly retired workers and their average pay is around $1827.00 USD.
However, those waiting to reach full retirement age have the opportunity to collect a maximum benefit of up to $4,555.00 USD.
It is important to remember that in 2023, the minimum retirement age will be 62 years. Meanwhile, the full age is 67 years and the maximum is 70 years and above.
Similarly, the amount of money received depends on the age, years of work and the salary received during those years. Added to these factors is the amount of taxes paid to Social Security during the same period.
In this manner, SSA issues checks every Wednesday of every month, depending on the beneficiary’s date of birth. That means those born between 1st and 10th will get paid on the second Wednesday of the month.
Likewise, those with birth dates between the 11th and 20th get it on the third Wednesday. Those born between 21st to 31st will get paid on the last Wednesday of the month.
It is noted that those who retired before May 1997 were not covered by the earlier scheme. Neither are Supplemental Security Income (SSI) beneficiaries, as they receive payments on the first days of the month.
Who will get paid from November 22?
Retirees born between the 21st and 31st of the month will receive approximately $1,800.00 USD on Wednesday, November 22nd. To do this, the payment schedule is taken into account, as well as the average amount per retired worker.