Social Security: this group of retirees will collect $2,710 on this April date

Social Security Administration (SSA) payments are not the same for all retirees and this happens because the entity evaluates some aspects to determine the exact amount that is sent to each of the beneficiaries; such as age.

It is for this reason that those who retired early at age 62 may currently be receiving the minimum Social Security payment of $2,710 per month. This happens because the entity subtracts 30% of the profit every month.

For its part, Retirees at full age (65 years) obtain the base amount, which is $3,822 dollars, which is equivalent to 100% of the benefitwhile those retired at age 70 receive more than 100%, which is $4,873 dollars monthly.

When will the next Social Security payment be sent?

Now, for retirees after May 1997, the SSA distributes payments in three rounds, in the month of April the schedule was as follows:

• Wednesday, April 10: payment to retirees after May 1997 born between the 1st and 10th of any month.
• Wednesday, April 17: payment to retirees after May 1997 born between the 11th and 20th of any month.
• Wednesday, April 24: payment to retirees after May 1997 born between the 21st and 31st of any month.

How to increase Social Security payments?

As some experts point out, the best way to increase Social Security payments is to delay retirement until the maximum age of 70, according to financial advisor Suze Orman, for each year of delay, 8% more is added to the benefit.

“Each month after age 62 that you do not claim your benefit entitles you to a slightly larger payment when you begin collecting your benefit. Over time, those small incremental increases add up.”, indicates the expert.

Another way to increase the monthly benefit is to apply for Supplemental Security Income (SSI) payments, which in addition to being aimed at low-income seniors and disabled people, also favors retirees under 65 years of age.

Keep reading:

• Social Security: 3 rules you should know before claiming retirement benefits
• Retirees are reintegrating into the labor market: why?
• Social Security: why is your monthly check less than expected?