If you are receiving Social Security retirement benefits, you could get money on one of the 4 different paydays. Depending on different rules, you may get your direct deposit or check earlier or later in the month.
Some retirees will not get their direct deposit or check until October 23. However, their payment will be on time and as scheduled. They get it so late because of their birth date.
Who qualifies for Social Security on October 23?
To qualify for the last payment in October, you must meet the birthday requirement:
- retirement payment on October 9: born from 1-10
- retirement payment on October 16: born from 11-20
- retirement payment on October 23: born from 21-31
What is more, there are 2 things that could prevent you from getting any of the Wednesday payments. If you got benefits before May 1997, your next Social Security check will be due on November 1, 2 days ahead of schedule. Those on SSI and retirement benefits do not qualify for the October 23 payment either.
How much could your Social Security be on October 23?
A retiree who files at the age of 70 can receive up to $4,873 from the Agency. If you filed at the age of 62, your payment can be up to $2,710. Those who file at Full Retirement Age can receive a check of up to $3,822.
On average, your Social Security payment could be about $1,920. However, if you just worked for 10 years, filed at 62, and had a low wage, you may get a very small check.
Those retirees who have just started receiving Social Security retirement benefits and have a low income and little resources may qualify for SSI benefits. In this way, you could get a monthly payment worth $575 on average. The next SSI check will not be sent until November 1, but a decision make take longer if you apply now in October.
