The Social Security Administration (SSA) will make its next round of payments on Wednesday, May 21, to cover essential income for retirement, disability pensions and survivor benefits, although not all beneficiaries will receive their payment and it is important to be aware of who is not included in this week’s list.
The list of retirees who will receive their payment this week corresponds to those born between the 11th and 20th of any month, who began receiving their benefits after 1997. This segmentation allows the SSA to efficiently distribute the high volume of monthly payments, avoid delays and system overloads, so it does not include those who apply for Supplemental Security Income (SSI), beneficiaries who collected in the round on Wednesday, May 14.
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The SSA distributed the first payment of the month, aimed at those who began receiving their benefits before 1997. These beneficiaries have already received their deposit, according to the usual protocol that assigns their payment for the third day of each month. In addition, those who receive benefits from both Social Security and Supplemental Security Income (SSI) also collected on those dates: SSI on the first and Social Security two days later.
In addition, if you were born after the 20th of any month, you will not be on the list for May 21, but will be part of the last round on Wednesday, May 28, for those born between the 21st and 31st.
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The Social Security payment system
The staggered system helps the SSA keep things in order when it comes to delivering benefits and allows beneficiaries to better plan their monthly finances.
The amount of Social Security payments depends on the income earned during working life and the age of retirement. For example, workers who retire at age 62 receive an average of $2,831 per month; those who wait until age 67 receive $3,822; but if they delay retirement until age 70, they can reach a maximum of $5,108 per month.
This news was originally published on this post .
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