Social Security update: Second round of December payments worth $4,555 to be sent out in eight days

Millions of retired seniors will see their second Social Security payments for the month of December in eight days, worth up to $4,555.

The payment is scheduled for Dec. 29 for those who qualify for Supplemental Security Income benefits. Recipients will see varying payments based on when they choose to retire. Those who retire at the youngest age, 62, may receive up to $2,572 per month, while delaying to 70 can allot up to $4,555 per month, according to the Social Security Administration.

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Retirees born between the first and 10th of a month should have seen their payments on Dec. 13. Retirees born between the 11th and 20th of a month saw their checks on Wednesday, and those born on or after the 21st of a month will receive their payments in one week.

Social Security payments are distributed starting the second Wednesday of every month, and payments are sent out in subsequent weeks. According to the SSA, roughly 67 million people will receive payments.

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Starting in January, the 3.2% cost-of-living adjustment announced in October will be reflected in payments for more than 66 million Social Security beneficiaries. Retirement benefits are expected to increase by more than $50 per month.