First round of June Social Security payments goes out in four days
June’s first round of Social Security payments for retirees-up to $5,181-will be issued in four days.
**Arrival schedule:** Payments go out in three rounds based on birth date: June 10 for those born on/before the 10th, June 17 for those born 11th-20th, and June 24 for those born on/after the 21st.
**Eligibility and amounts:** People become eligible for Social Security starting at age 62. Monthly benefit size depends on retirement age and how much was paid into Social Security over working years. Retiring at 62 could mean up to $2,969 per month, while retiring at 70 could mean up to $5,181. The SSA calculator can provide personalized estimates.
**Financing and outlook:** Social Security is funded through payroll taxes paid by both employers and employees.Without congressional action, benefits are projected to decline, with analysts estimating the SSA may not be able to pay full benefits as early as 2034.
The first round of June Social Security payments for retirees, now capped at $5,181, will be issued in four days.
When will payments arrive?
Retirees born on or before the 10th of a month will receive this payment on June 10.
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The second round will go out on June 17 to those born between the 11th and 20th of a month, and the third round will go out on June 24 to those born on or after the 21st of a month.
When am I eligible?
Citizens are eligible for Social Security payments beginning at age 62.
How can I maximize my check?
Social Security payment amounts are determined by several factors, including age of retirement, the amount paid into Social Security, and the number of years paid into Social Security.
Payments largely depend on a recipient’s retirement age. A beneficiary retiring at the youngest age, 62, could receive up to $2,969 per month, while a 70-year-old retiree could receive up to $5,181 per month, according to the Social Security Administration.
Beneficiaries can see a personalized estimate of how much they could expect each month using the SSA’s calculator.
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How is it financed?
Social Security is financed by a payroll tax paid for by employers and employees.
Social Security payment amounts are set to shrink unless Congress takes action to prevent it. Analysts estimate the SSA will no longer be able to issue full payments as early as 2034, due to a rising number of retirees and a shrinking workforce.
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