The amount of Social Security benefits retirees receive depends on their age, the number of years they paid into the system, and the amount of money they paid to Social Security. The highest-income earners who retired at age 70 can expect to receive a maximum of $4,873 each month. Those who retire at age 62, the earliest one can begin to collect benefits, can collect a maximum of $2,710 each month.

Beneficiaries can see a personalized estimate of how much they can expect each month through the Social Security Administration’s calculator.

Retirees will receive their Social Security check depending on when their birthday falls.

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Retirees born between the first and 10th of a month receive their payments on Dec. 11. Beneficiaries born between the 11th and 20th of a month receive their checks on Dec. 18, and retirees born on or after the 21st of a month will receive their payments on Dec. 24. The final payment will be on a Tuesday, as the fourth Wednesday falls on Christmas.

The federal government has provided Social Security benefits to retirees since 1935. The program is financed by a payroll tax paid by employers and employees. However, analysts estimate the SSA will no longer be able to give out full payments to recipients as early as 2034 due to a rising number of retirees and a shrinking number of workers. It is up to Congress to make changes to ensure recipients don’t see a dip in payments.