There is just one final installment of July's Social Security payments, worth up to $4,555 for people who retire at 70, which will go out to millions of retirees in just under a week, according to the Social Security Administration's schedule.

The final round of payments will go out on July 26, to recipients born after the 21st of the month. It comes a week after the second round was paid out, which was on Wednesday.

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The first round was distributed on July 12 for those born between the first and 10th of a month. Each recipient receives just one of these checks each month.

The maximum amount of money each person can receive depends on his or her age at retirement, how long he or she has paid into Social Security, and how much he or she pays into the program over time.

Recipients who retire at 62, the earliest year possible, get monthly installments of up to $2,572. Those who retire at 67, the full retirement age, receive a maximum benefit of $3,627. But people who delay retirement until 70, the oldest age they can retire, get the highest maximum payment of up to $4,555 per month, according to the SSA.

The future of Social Security, including how the payments work and the amount people receive, is uncertain. Recipients could see a decrease in their payments if Congress does not settle on funding for the program before the Social Security trust runs out. Money in the program's trust is expected to run out by 2034.

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Discussions about how to save or fix Social Security have occurred in Congress for years, but experts have warned that the program could be insolvent in 10 years if nothing is done.

One change could come from a proposal by House Republicans, who suggested gradually raising the full age of retirement to 69 by 2033. Raising the age of retirement would not affect seniors already on Social Security, or those who retire before the age increase goes into effect.