The Social Security Administration that beneficiaries of Social Security Income will receive their $1,681 payments in less than a week from now.
$1,681 Social Security Payments
Social Security beneficiaries whose birthdays fall between the 1st and 10th day of the month will receive their payments in less than a week this month. The Social Security Administration said that the first round of checks will be sent this Dec.14 and retirees should expect an amount as high as $4,194.
The Social Security posted on its website, “You can begin getting Social Security retirement benefits as early as age 62. But we will reduce your benefits by as much as 30% below what you would get if you waited to begin getting benefits until your full retirement age. If you wait until your full retirement age … you will get your full benefit.”
Additionally, an increase of $146 to $1,827 per month will begin on January 2023 as a result of the increasing inflation rate, according to an article published in Washington Examiner.
Schedule of Other Waves of Payments
Those who were born on the 11th through the 20th day of their birth month will receive checks in the second wave on the third Wednesday of each month, the payment for this month will be distributed to that group on December 21. The Social Security Administration has announced that the third wave of payments will be distributed on Wednesday, December 28, for those who were born on the 21st through the 31st of their birth month.
Due to historically high inflation rates, the acting commissioner of the SSA announced the highest cost of living adjustment in 40 years, an increase of 8.7 percent. The agency last granted a bigger raise in COLA in 1981, when it was 11.2 percent.