$4,555 Goes Out to Millions in 13 Days
: Social Security Update on Direct Cash Payment
Retirees to receive up to $4,555 in August after delaying retirement until their 70s.
Payments begin on Aug. 9 for those born between 1st and 10th, followed by Aug. 16 and 23 for other birth dates.
Additional payments on Aug. 3 for recipients outside the U.S. and those on Supplemental Security Income.
Maximum amount varies based on age at retirement, years of contributions, and program payments.
Monthly installments of up to $2,572 for retirees at age 62.
Full retirement age at 67 receives a maximum benefit of $3,627 per month.
Delayed retirement until 70 offers the highest payment of $4,555 per month.
Social Security's future uncertain; recipients may face reduced payments after 2034 without funding solution.
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