The Social Security Administration (SSA) sent direct payments on October 9, and 16. Even if the 2025 COLA increase has been revealed, the Agency will not boost retirement benefits until January 2025.
However, those whose birthday is from the 21st to the 31st will get their Social Security for October on the 23rd. If you are also receiving SSI benefits, this will not be your payday. It will not be either if you began receiving benefits before May 1997.
Social Security maximum amounts on October 23
Retirees who filed at 70 in 2024 can receive up to $4,873 in October, regardless of the Wednesday payday. So, that will be the largest retirement check on October 23.
Those seniors on in retirement who chose to file at Full Retirement Age (FRA) can get up to $3,822. As you can see, the earlier you file, the lower your Social Security payment will be.
If you have filed at 62 in 2024, your monthly payment can be up to $2,710. Keep in mind that few workers get so much money. For many is also difficult to get average payments, $1,920 as of August 2024.
Social Security payment is November
The Agency will continue sending checks and direct deposits in November after October 23, 2024. The first retirement payment will be issued 48 hours ahead of schedule.
So, it will come as a surprise for those who are not aware of Social Security news. Hence, some retirees will receive Social Security on November 1 and if they get SSI, they will get two payments on the same day.
Remember that SSI is usually sent on November 1. Other payments for retirees will be delivered on November 13, 20 or 27. Even if SSI and Social Security recipients will share a payday, there are 5 paydays set for November.
The reason is simple. SSA has scheduled the SSI payment for December on November 29. Since December 1 falls on a Sunday, the SSI payment had to be rescheduled.