Social Security update: Millions of people receive direct payments of up to $4,555 in a single day

The Social Security Administration has set a date for the 2nd of May’s 3 Social Security payouts, which could total up to $4,555.

The money will be given out on May 17, which is the 3rd Wednesday in May, to anyone who was born within the 11th and 20th of a given month. Every month, on the second, third, and fourth Wednesdays, payouts are made.

On the 2nd Wednesday in May, pensioners born during the first and tenth of a month received their first payout. On May 24, the final shipment would be delivered to people who were born on or after the 21st of the previous month.

Each beneficiary receives a different amount of funds depending on their age at retirement. As per the SSA, beneficiaries may get a maximum payout of $3,627 when they retire at age 67, up to $2,572 when they do so at age 62, and up to $4,555 when they wait until they are seventy.