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Who could get an extra ,983 in their monthly Social Security check?

Who could get an extra $1,983 in their monthly Social Security check?

Social Security offers an average monthly check of $1,827, but you can get an additional $1,983.  Here we explain

Social Security offers an average monthly check of $1,827, but you can get an additional $1,983. Here we explain

In the United States, any worker who has been active for at least 10 years and has paid the corresponding taxes may be eligible for Monthly Social Security payments, once you request your retirement. The person responsible for payments is Social Security Administration (Sasa).

the Sub-Saharan region Millions of payments are issued each month to all Social Security beneficiaries, which also include… For people with disabilitiesMost of them are retired workers. The amount to be received depends on the age at which the beneficiary requested retirement, as well as the number of years of work and the salary he received during this period.

It is worth noting that the amount increases every year thanks to the cost of living adjustment (COLA), which is done to match payments with current inflation and avoid purchase losses when the inflation rate is high. In 2023, for example, Social Security payments average $1,827 per beneficiary. However, there is a way recipients can get a few extra dollars. how? At Otium we explain it to you.

Here we explain how you can get an extra $1,983 in your monthly Social Security check.

How do you get an extra $1,983 in your monthly Social Security check?

Workers who are still active must think about their future if they want a higher wage in retirement. One of the most important factors to consider Sub-Saharan region The employee’s age at the time of applying for benefits. The longer you wait to retire, the more money you will receive each month.

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Those who retire at the minimum age (age 62) can aspire to the maximum benefit of $2,572 per month. but, Those who postpone their retirement until age 70 or later can receive a maximum of $4,555; That’s an additional difference of $1,983.

It is worth noting that in order to be eligible for the maximum payment, in addition to the fulfillment age, the retirement applicant must have worked for 35 years and paid insurance payroll taxes on the maximum taxable income. This year, the first $160,200 is subject to these taxes.