The second round of March’s Social Security payments, worth up to $5,108 for high-income earners retiring at age 70, will be distributed in four days.
When Will the Payment Arrive?
Social Security payments are typically distributed on the second Wednesday of each month, with additional payments sent in subsequent weeks.
The payment schedule is based on the retiree’s birth date:
- Retirees born on or before the 10th of the month got their payments on March 12.
- Those born between the 11th and 20th will receive theirs on March 19.
- Retirees born on or after the 21st will get their payments on March 26.
Who Is Eligible?
Citizens become eligible for Social Security benefits at 62 years old.
How to Maximize Your Benefits?
The amount you receive depends on when you retire, how much you paid into Social Security, and the number of years you contributed.
- Retiring at 62 allows up to $2,831 per month.
- Delaying retirement until 70 increases the maximum monthly benefit to $5,108.
Beneficiaries can use the Social Security Administration’s (SSA) calculator to estimate their expected payments.
How Is Social Security Funded?
Social Security is funded by payroll taxes paid by both employers and employees.
Without Congressional action, full payments may decrease as early as 2034 due to a growing number of retirees and fewer workers contributing to the system.
