Overview

• Payments are scheduled for Wednesday, June 26, for retirees born between the 21st and 31st of any month.
• The highest possible monthly benefit of $4,873 is available to those who retire at age 70.
• Social Security benefits have increased by 3.2% this year due to the Cost of Living Adjustment (COLA).
• The Social Security Administration anticipates paying out around $1.5 trillion in benefits throughout 2024.
• Analysts warn that without legislative action, full Social Security payments may not be sustainable beyond 2034.