The new Social Security payments for retirees aged 70 and above, now capped at $5,108, go out in 12 days. When will checks arrive? Social Security payments are scheduled to begin on the second Wednesday of every month and continue in waves on a weekly basis.

Social Security's August schedule is normal but if you were overpaid in the past, you may not be getting as much as you expected.

Social Security payments in August will follow a normal schedule for Michigan retirees and others who receive money, however those who were previously overpaid by the Social Security Administration may see smaller benefit checks.