The additional $1,983 in Social Security is more than the total average of monthly benefits which was $1,840 as of the month of August. In this article, read and find out how to receive the additional benefits in your 2023 Social Security check!Social Security beneficiaries have a “full retirement age” at which they can start receiving the maximum benefits in their 2023 Social Security check. The full retirement age of a Social Security beneficiary is between the ages of 66 and 67 for any individual who is born in 1960 or after.
An article in The Motley Fool states that Social Security beneficiaries can start receiving their benefits at the early age of 62. However, the amount of benefits in the 2023 Social Security Check will be less than if the beneficiary opted to receive them at a later age.
This suggests that the amount of benefits in the 2023 Social Security Check will increase once a beneficiary will delay their collection. Reports say for every year beyond the full retirement age until the age of 70, the benefits will increase by 8%.
Who will receive the additional $1,983?
According to an article in Nasdaq, the difference between claiming the maximum benefits at the age of 62 and the age of 70 is $1,983. This suggests that the way to receive the additional $1,983 in the 2023 Social Security check is to delay the collection until the age of 70.
Nonetheless, in order to collect the maximum benefits in the 2023 Social Security check, a beneficiary must have also worked for at least 35 years. In addition, the beneficiary must have earned at least the maximum taxable amount in every year of their employment.