The Social Security Administration (SSA) has confirmed when the next checks and direct deposits will be sent. For your information, no one can receive retirement benefits if they have not filed and got approval from the SSA.
Seniors can file for Social Security at the age of 62, but delaying retirement can be rewarding. The more you delay retirement until you are 70, the better. It can provide you with 24% extra per month.
Social Security payment in 4 days
Some retirees will receive their July payment on the 10th. There are several conditions to get money on this exact date. Of course, you are not eligible if you are on SSI or if you got benefits before May 1997.
To get money on July 10 you must have collected payments after April 30, 1997. What is more, Social Security will make sure your birthday is from the 1st to the 10th of any month.
Those whose birthdays are from 11-20 or 21-31 will get their Social Security on July 17 and July 24. Hence, all these payments will take place on a Wednesday. Remember that SSA only sends money on business days.
Social Security can send up to $2,710 to these seniors
If you have filed at 62, you can earn up to $2,710. However, it is unlikely to get so much money since it is really difficult to achieve it. Average payments for 62-year-olds are between $1200 and $1,300.
Seniors can receive $2,710 if they file at 62, have worked for 35 years at least, earned the taxable maximum all those years, and have had jobs covered by the Social Security Administration.
Some retirees could get more money if they have delayed retirement. For example, those who have filed at Full Retirement Age can get up to $3,822. Filing at 70 can give you up to $4,873. As you can see, there is a considerable difference between filing at 62 and at 70.
