The Social Security Administration (SSA) provides more than 70 million payments per month to beneficiaries of the Social Security program, with the majority being retired workers. The average payment for these individuals is around $1827.00 USD, but those waiting to reach full retirement age can collect up to $4,555.00 USD as a maximum benefit.
It’s important to note that in 2023, the minimum retirement age is 62 years, while the full retirement age is 67 years, and the maximum is 70 years and older. The amount of money received will depend on various factors including age, years worked, salary, and the amount of taxes paid to Social Security during the working years.
Payments are issued every Wednesday, every month, based on the beneficiary’s date of birth. Those born between the 1st and the 10th receive their payment on the second Wednesday of the month, while those with a birthday between the 11th and 20th receive it on the third Wednesday. Those born from the 21st to the 31st receive their payment on the last Wednesday of the month. However, retirees who retired before May 1997 and Supplemental Security Income (SSI) beneficiaries are not included in this schedule.
On Wednesday, November 22, retirees who were born between the 21st and 31st of the month will receive an approximate payment of $1,800.00 USD. This takes into account the payment schedule and the average amount for a retired worker.