The new Social Security payments for retirees aged 70 and above, now capped at $5,108, go out next week.
Social Security payments are scheduled to begin on the second Wednesday of every month, and continue in waves on a weekly basis. The payment date is determined by the day of the month a retiree was born.
Retirees born between the 1st and 10th of a month will receive the first round of payments on Aug. 13.
The second round of payments will go out on Aug. 20 to retirees born between the 11th and 20th, and the third round will be distributed on Aug. 27 to those born on or after the 21st.
When am I eligible?
Citizens are eligible for Social Security payments beginning at
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