Social security benefits cola 2023

hindkunj.com

CREDIT GETIMAGE

Who will receive Social Security's $4,555 in June 2023 and when?

CREDIT GETIMAGE

Benefit amounts varied widely, with a select few eligible for a maximum benefit of $4,500 in June.

CREDIT GETIMAGE

In 2023, an 8.7 percent increase in COLA increases average retiree payments to approximately $1,827.

CREDIT GETIMAGE

The maximum benefit for a person who retires at full retirement age at age 67 is $3,627 per month.

CREDIT GETIMAGE

Recipients who are 70 or older may be eligible for monthly payments of up to $4,555 until they retire.

CREDIT GETIMAGE

SSA sends SSI benefits on the first day of each month, except in months where the first day of the month falls on a Saturday, Sunday or public holiday.

CREDIT GETIMAGE

If the first Social Security payment falls on a weekend or holiday, the check is sent on the first Friday. SSI beneficiaries will receive the first payment of the month on Thursday.

CREDIT GETIMAGE

On June 30, the SSA will send July payments to recipients to avoid any delays. Therefore, SSI beneficiaries will receive two payments in June but none in July.

CREDIT GETIMAGE

Next steps

Social security benefits cola 2023

3

share the story

A

click here for more information