The second round of October Social Security payments is scheduled for October 21, targeting retirees born between the 11th and 20th of the month. Payments depend on retirement age, with maximum benefits of $5,181 available for those who retire at age 70. The Social Security fund's sustainability is in question, as it may run out by 2032 if Congress does not take action.
Key facts
- Second round of payments goes out on October 21.
- Payments are capped at $5,181 for retirees.
- Eligibility begins at age 62 for Social Security.
- Full retirement age is 67 for those born in 1960 or later.
- The Social Security fund may run out by 2032.
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