In just 4 days, the Social Security Administration will continue with the next round of retirement benefit payments. Retirees aged 62 and older will collect their payments of up to $4,873.
As a matter of fact, the next payment date will be on August 14, 2024. Bear in mind that you will not be eligible for the three remaining paydays if you are on Supplemental Security Income. Those who began receiving benefits before May 1997 are not eligible either.
Who is eligible for the Social Security payment on August 14?
To be eligible for the August 14 payment, Social Security recipients must have been born from the 1st to the 10th. This means that, if you are on retirement benefits and did not qualify for the August 2 payday, your birthday must be before the 11th.
The amount of all the payments left in August only share the maximum and average payments. For example, if you qualify for the largest benefit at 62, you will receive up to $2,710. At Full Retirement Age (68 years and 8 months old in 2024), you can receive up to $3,822.
Those retirees who delayed retirement and qualify for the largest Social Security direct deposit can receive up to $4,873. On average, retirees can get up to $1,918. So, there is a considerable difference between the average check and the largest one.
Social Security paydays on August 21 and 28
The Administration has scheduled the next payment after August 14 for August 21. The last three payments will be due on the second, third, and fourth Wednesday of the month. To get this money, the birthday requirement is key.
Thus, those retirees aged 62 or older who were born between the 11th and the 20th will get their payment on August 21. Their average payment will also be $1,918 and the largest benefit up to $4,873.
Seniors whose birth date is after the 20th will have to wait longer to receive their money from Social Security. Actually, August 28 will be their payday. If your check is too low and you cannot make ends meet, apply for Supplemental Security Income and SNAP benefits.
