In 2023, the Social Security Administration will still pay retired workers their monthly payments. Supplemental Security Income, disability, and survivor payments are all distributed by the SSA. The payouts for the month of May are listed below. The average retiree payout increased to around $1,827 as a result of the cost-of-living adjustment rise of 8.7%, the SSA said in January.
The maximum retirement benefit is $2,572 for people who are 62 years old. Workers can earn a maximum benefit of $3,627 per month if they retire at full retirement age (67), and a maximum benefit of $4,555 if they retire at age 70 or older.
Social Security Dates:
The average amount for Supplemental Security Income users is roughly $600. The maximum monthly SSI payout is $914 for an individual and $1,371 for a married couple who are both qualified for the program.
Payments, on the other hand, are computed individually and differ from one recipient to the next. SSI beneficiaries are paid on the first of each month, or on the final day of some months if the first occurs on a weekend. Those who began receiving Social Security benefits before May 1997 receive them on the third of each month.
Other Social Security payments are distributed in accordance with the beneficiary’s birthday:
Retirees that have a birth date between the first and tenth Wednesday of each month
Third Wednesday: Recipients born between November 11 and November 20; Fourth Wednesday: Retirees born between November 21 and November 31
Specific mailing dates for May Social Security benefits:
1 May: SSI Recipients
Payees who started receiving payments prior to May 1997 as of May 3
Beneficiaries born between May 10 and May 17 are those whose dates of birth are between May 1 and May 10.
May 24: Recipients with birthdates between 21 and 31
