


Millions of retired seniors will receive the first wave of December Social Security payments, worth up to $4,555, in 11 days.
Retirees born between the 1st and 10th of a month receive their payments on the second Wednesday of every month, which is Dec. 13 this month. Beneficiaries born between the 11th and 31st of the month will get their checks in one of two later payments, which go out on Dec. 20 and Dec. 27.
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The amount paid into Social Security and the number of years paid into Social Security affect the maximum payment retirees receive, and it largely depends on what age recipients choose to retire. For example, retiring at the youngest age, 62, allows up to $2,572 per month, while delaying to 70 can allot up to $4,555 per month, according to the SSA. Those who retire at 67 will see up to $3,627 per month.
Not every recipient will receive the maximum payment, and beneficiaries can see a personalized estimate of what they can expect each month through the SSA's calculator.
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Monthly payments are expected to rise by 3.2% in January as part of the program's annual adjustments based on inflation, the SSA announced in October. The increase will be the same percentage for all payments the administration sends, including retirement and disability pay.
Those totals will shrink come 2034 unless Congress takes action to prevent it. Analysts estimate that the SSA will no longer be able to give out full payments to recipients as early as 2034 due to a rising number of retirees and a shrinking number of workers.