Social Security Payments Coming Soon: Get Yours on March 13 for Birthdays 1-10
Maximum Benefits at Different Retirement Ages: 62, 67, and 70 Offer Varying Amounts
According to Washington Examiner, the first Social Security payments for March will be sent out soon. If you were born between the 1st and the 10th of the month, you’ll get your money on March 13. How much money you get depends mostly on when you retired, how much you put into Social Security, and how long you paid into it. If you retired at 70, you could get as much as $4,873 each month. But if you retired at the youngest age, 62, you might only get up to $2,710 monthly. And if you retired at the full retirement age of 67, you could get a maximum of $3,822 per month.
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$4,873 Social Security Payments Set to Reach Recipients in 13 Days – Countdown Begins!(PHOTO: getty images)
Boost in Benefits: March Payments Up 3.2% from Last Year, Adding Around $50 Monthly
The payment schedule for March varies based on individuals’ birth dates, with those born on or after the 11th of the month slated to receive their payments later in the month, either on March 20 or March 27. Despite receiving only one payment, the specific week of disbursement is determined by the day of the month the recipient was born. This year’s payments include a 3.2% increase compared to last year’s, with an average boost of about $50 per month, attributed to the annual cost of living adjustment announced in October. Recipients can access a more tailored estimate of their monthly benefits through the Social Security Administration’s online calculator.
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