The new Social Security payments for retirees aged 70 and above, now capped at $5,108, go out in five days.

When will checks arrive?

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.

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Retirees born between the 1st and 10th of a month will receive the first round of payments on Aug. 13.

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