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In the next 3 days, recipients will begin receiving the first Social Security retirement payments of 2023, which could total up to $4,194.
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Several variables, including the recipient's decision over when to retire and begin receiving Social Security payments, will affect the exact amount.
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According to Social Security Administration (SSA), to get the highest payment of $4,194, a person must have retired at the age of 70.
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According to SSA, maximum payment of $3,345 will be given to recipients who retired at age 67.
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According to the SSA, anyone retiring at the age of 62 will get up to $2,364 each month.
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Every month, the SSA will start disbursing retirement benefits on the second Wednesday and finish with the third payment on the fourth Wednesday.
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According to the administration's calendar, the payments due to be distributed on January 11 will go to individuals who were born between the first and tenth of a given month.