The second round of August’s Social Security payments, worth up to $4,873 for the highest income earners who retire at age 70, will go out to the second group of retirees on Aug. 21.

Retirees are eligible to begin receiving Social Security payments when they turn 62, but they will only receive a maximum amount of $2,710 per month while delaying retirement until age 70 can allot up to $4,873 per month.