The last January payment from Social Security arrived on January 24. The Administration has scheduled the first check in February for Supplemental Security Income (SSI) beneficiaries.
It is true that some retirees qualify for SSI too. But you cannot get SSI unless you are 65, have a disability, or are blind. So, 62-year-olds may not receive SSI on February 1, 2024.
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Retirees aged 62 may not receive a new Social Security check on February 2. This payday is only for those who filed for retirement benefits before May 1997 or get SSI. So it is not possible in most cases. People with a disability and are aged 62 may get SSI and the February 2 payment though.
SOCIAL SECURITY PAYMENTS OF UP TO $2,710
The Administration can send payments of up to $2,710 if you are 62 years old. This is the largest benefit for this age group in 2024. However, it is not easy to qualify for them.
To get Social Security payments worth up to $2,710 you must have paid a lot of taxes to the Administration. Working in jobs not covered by SSA makes it impossible to get retirement benefits.
So, if you have earned the taxable maximum for at least 35 years, you will be eligible for a payment of $2,710 at 62. Bear in mind that early retirement means reducing the amount of your future payments.
It could mean saying goodbye to 30% of your retirement benefits. Late retirement can give you 24% extra, so it is up to you to choose when is the best moment to file for Social Security.
PAYDAYS FOR 62-YEAR-OLDS
Whether you are eligible for a Social Security payment worth $2,710 or an average check worth $1,907 or even less money, the following payday will be on February 14.
So, if you started receiving Social Security from May 1997 onward, you will not get the February 2 check. To get your payment on February 14, your birthday must be from 1-10.
If your birthday is from 11-20, you will get your Social Security payment on February 21. 62-year-olds may also receive their money on February 28, but only if their birthday is from 21-31.
The rest of the retirees may have the same paydays. However, if they have filed at Full Retirement Age or at the age of 70, their payments will be much higher. For example, seniors could get $4,873 at 70 if they have earned the taxable maximum for 35 years and filed at that age in 2024.