MILLIONS of senior citizens will receive a direct payment worth up to $4,194 in less than 12 hours.
As The U.S. Sun previously reported, retirees across the United States are reported to receive Social Security benefits this Wednesday, December 28.
The payments will specifically be sent to Americans that were born between the 21st and 31st of the month.
Some benefits were already sent out earlier in the month on December 14 and 21 to those who had earlier birth dates.
Around eight million people nationwide claim SSI.
The benefits support adults and children with disabilities and low incomes.
Single retirees have received a monthly benefit worth $1,657 on average in 2022.
However, senior couples have gotten $2,753 per month in comparison, as their benefits increase by $154 on average.
Some seniors who waited until the age of 70 before opting to claim benefits may likely receive the maximum payment of $4,194.
Not only that but Social Security payments are projected to be boosted in 2023 due to the cost-of-living-adjustment (COLA) being increased to 8.7 percent.
The cost of living adjustment system is reportedly designed to keep up with inflation.
It's calculated on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers – which measures the change in the cost of goods and services.
The U.S. Sun has the details seniors will need to find out how they can estimate their payment for 2023.
However, according to a poll from the Motley Fool, at least 55 percent of Americans believe the COLA rise wasn’t enough this year.
Despite this, there are still major changes expected to hit Social Security programs in 2023.
Claimants of Supplemental Security Income are additionally set to obtain a benefit of $914 on December 30.
The amount for each person will increase by a maximum of $73 in line with the adjusted COLA.
According to the Social Security Administration, those seniors who are over 65 and have low incomes may also qualify for payment.
Americans can claim both Social Security and Supplemental Security Income.
This additional payment on December 30 comes as New Year's Day is a federal holiday and falls on a Sunday this year.
For related content, The U.S. Sun has coverage of the states that offer a supplement to the federal SSI payment.
The U.S. Sun also has the story of what FICA means on your paycheck.
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