Pensioners are about to cash a new payment. The best thing about this check is the fact that it can provide seniors with a $4,555 payment. If you retired at age 70 in 2023, you still have a chance to collect the maximum amount.
However, this will depend on your previous income and the number of years you have paid taxes to the administration. Not all pensioners it can get so big payment because not all of them had high incomes as workers.
Because it’s Social Security paymentyou must have applied for retirement benefits from May 1997 onwards. If you received retirement benefits before May 1997, this check will not be for you.
PENSIONERS AND CHECK ELIGIBILITY UP TO $4555
In addition to submitting documents for Social security, pensioners must have their date of birth on a certain date. Otherwise, they will not receive their payment December 13. So, make sure your birthday is between the 1st and 10th of the month.
These pensioners on retirement benefits will cash out to $4,555 if their birthday is one of the first ten days of the month. If your birthday is after the 10th, you will have two more possible dates.
Note that average checks are not that high. In fact, most pensioners will receive a payment of approx 1848 dollars in 2023. Thanks to the cost-of-living adjustment, they will get 3.2% more in January.
Average pensioners will get about $59. Therefore, they will receive an average of over $700 per year. Even if the 3.2% increase seems too small, they can save it by creating an emergency fund. This way, they will have extra money for unexpected expenses.
TWO MORE PAYMENTS IN DECEMBER 2023
Those retirees who are not eligible for payment on December 13 may receive theirs money on December 20 or December 29. Of course, in addition to having filed, their birthday must qualify.
The checks that arrive on December 20th will be for them only elderly whose date of birth is from 11th to 20th. If your birthday is after the 20th, you will cash out on the 27th of December.
All these 3 payments can give payee checks in the amount of $4,555. This will be the last month that seniors can receive this amount. The 2024 COLA increase will make it $4,873
On the contrary, some pensioners whose payment is too low can also receive SSI. There is also good news for them because they will receive their monthly SSI payment on December 29. New Year’s was supposed to be their payday, but it’s a holiday. So they collect their checks up to $943 three days in advance.