New direct payments between $1,827 and $4,555 in the US

Direct payments are going out this month.

Checks for up to $4,555 are on the way.

Who is eligible for this direct payment?

Good news for your pocketbook. A direct payment for up to $4,555 will be going out this month. We’ll tell you who is eligible to receive this generous check.

Undoubtedly, many people’s finances have been directly affected by inflation and the high costs of basic household good, not to mention COVID-19. As unemployment rises, it’s harder for people to find good jobs.

Direct payments between $1,857 and $4,555

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The new cost of living adjustment (COLA) for Social Security increased by 8.7% at the beginning of 2023. This means that the elderly will receive higher monthly benefits than previous years. This Wednesday the first Social Security payment increase of 2023 will occur.

Payments will increase by $140 on average, reaching $1,827. This new benefit increase for seniors is the largest in 40 years. Supplemental Security Income recipients should have received their first check reflecting the new COLA adjustments after December 30. Filed Under: Social Security payments

When your payment arrives depends on your date of birth

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For Social Security beneficiaries, the first payment with the COLA increase will be delivered in the first week of January. The order in which the recipients receive the money depends on their date of birth, according to The Sun.

Retired workers can receive $1,827 per month, but the amount could increase depending on various factors. It is estimated that two people who receive both benefits earn $2,972, which is $238 more than last year’s amount of $2,734. On the other hand it was noted that Social Security at full retirement age can be up to $3,627 per month. Filed Under: Social Security payments

The payments will arrive every Wednesday of each month in the US

Photo: File/Shutterstock

Those who retire at age 62 will only get $2,572 compared to those who waited until age 70. Those people would see the maximum benefit of $4,555. That’s three payments scheduled to go out starting the second Wednesday of each month for those who were born between the 1st and 10th.

If your date of birth is between the 11th and 20th, the money will arrive on the third Wednesday of each month, and those born between the 21st and 31st will be receive their funds on the fourth Wednesday. Nearly 70 million Americans will benefit from the new COLA, according to The Sun. Filed Under: social security payments