If you have filed for retirement benefits at the age of 70 or older in 2024, you may receive $318 extra than you would have gotten in 2023. However, you must meet several requirements to qualify for such a large boost.
The largest benefit in 2023 was $4,555, while it is $4,873 in 2024. Hence, there is a difference of $318 between the largest check in 2023 and the one in 2024.
| Important links |
|---|
| More News |
| PAYMENTS |
| stimulus checks |
| Social Security COLA |
To qualify for the largest Social Security retirement benefits you must have worked in jobs covered by SSA. Besides, there are three essential requirements to get $4,873 in 2024.
HOW CAN I GET $4,873 ON FEBRUARY 14?
The first requirement is to have retired at the age of 70. If you filer before age 70, you will get a reduction. Early retirement at 62 means getting 30% less in your monthly payments.
Secondly, you must have had a very well-paid job. High earners for many years may qualify for this large check with a $318 increase in 2024. If you have not earned the taxable maximum for more than 34 years, you are not eligible.
The third condition to get $4,873 is to have worked for 35 years. Working fewer years means reducing your payment amount in retirement. So, filing at 70 and having earned the taxable maximum for 35 years is key.
UPCOMING RETIREMENT PAYMENTS WORTH UP TO $4,873 AND ELIGIBILITY
Retirees can receive their payment on February 14 if they started collecting payments after April 31, 1997. What is more, they must meet the birthday requirement.
If your birthday is from 1-10, your retirement check will be then due on February 14. If your birthday is from 11-20, your payday will be February 21.
Those whose birthday is later than the 20th will get their Social Security benefits on February 28. Do not forget that if you have never filed for retirement benefits, you are not eligible. Those workers who have not worked for at least 10 years, may not qualify either.