Social Security payments will shortly be made to a set of retirement retirees in the United States. Checks and direct deposits will be sent on August 28, 2024. Only individuals who meet all of the requirements will be eligible to receive this money.
For example, the birthday criterion is necessary. Seniors born between the 21st and the 31st of January through December may be eligible for retirement benefits provided they do not get SSI and did not begin collecting Social Security prior to May 1997.
How much money may Social Security claimants aged 62 to 70 receive on August 28?
The amount of money a retirement beneficiary can get will be determined by various factors:
the age when they sought retirement benefits.
Employee earnings and Social Security taxes.
The number of years they worked
All of these factors can influence whether you receive a smaller or higher reward. For example, if you earned the contribution and benefit base for 35 years, registered for Social Security at age 70, had jobs that paid payroll taxes, and worked for 35 years, you may get up to $4,873 on August 28, 2024. It can cost up to $2,710 if you are 62, and up to $3,822 if you are 66 years and 8 months old.
Social Security payments for seniors aged 62 to 70 in September
The maximum amounts for these payments in September will remain the same. Average payments might be slightly higher. They are currently around $1,919 on average, up from $1,908 in January 2024.
Social Security payments for pensioners aged 62 to 70 will be payable on:
- September 3: if receiving SSI and retirement benefits, or if you started receiving payments before May 1997.
- September 11: you are not qualified for September 3, and your birthdate ranges from 1 to 10.
- September 18: you are ineligible for September 3 since your birthday falls between 11 and 20.
- September 25: you are not eligible for September 3, and your birthday falls between 21 and 31.
The Supplemental Security Income payment for September will not be due on the first. Social Security had to reschedule until August 30. Because SSI cannot be sent on Sundays, it is sent the day before the next business day.