CREDIT GETIMAGE
CREDIT GETIMAGE
June's payments will be disbursed in three waves, starting on June 14. The payment schedule is based on the recipients' birth dates.
CREDIT GETIMAGE
The payment amount varies depending on the retirement age, ranging from up to $2,572 to a maximum of $4,555.
CREDIT GETIMAGE
Future Social Security payments could decrease without sufficient funding from Congress.
CREDIT GETIMAGE
There is an expected cost-of-living adjustment of 3.1% for Social Security recipients next year.
CREDIT GETIMAGE
The adjustment is determined based on the consumer price index for urban wage earners and clerical workers.
CREDIT GETIMAGE
Lawmakers have proposed raising the retirement age to 70, while current options include early retirement at 62 or as late as 70.
CREDIT GETIMAGE
Individuals should consider retirement strategies and potential changes in light of ongoing discussions in Congress.
CREDIT GETIMAGE
Beneficiaries should stay informed, plan accordingly, and explore alternative retirement options for financial stability.
CREDIT GETIMAGE
Next steps