The first round of the Social Security Administration’s retirement payments for March, worth up to $4,555, will be sent to recipients in just under two weeks.
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 the person was born in. Payments are sent on a Wednesday.
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The second round of payments, for those born between the 11th and 20th of a month, will be sent out a week later, on March 16, according to the Social Security Administration’s calendar. The final wave will be sent out on March 23.
The amount recipients receive from these payments depends on the age when they retired and 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 check of $3,627, and anyone who retired at 62 will get up to $2,572, according to the SSA.
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The retirement payments from the SSA are different from other payments distributed by the administration, such as disability insurance or Supplemental Security Income.
The amount of money retirees receive in social security is subject to change, or even decrease, 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 the funding problem.
