Two payments are due next week. While one of them is for beneficiaries with a low income, the other one is either for retirees or for people with a disability. So, it could be SSI, SSDI, or retirement benefits.
Money is certainly coming for millions of Americans. To get SSI (Supplemental Security Income) payments February in 2024, you must have a low income apart from other essential requirements.
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For example, you must have a disability, be blind, or be 65 years old or older. To get retirement or SSDI benefits, you must have earned enough work credits. For retirement, you need at least 40 work credits. Besides, if you are not 62 at least, you cannot get retirement payments.
WHO WILL RECEIVE PAYMENTS ON FEBRUARY 1?
Supplemental Security Income beneficiaries will receive their payments on February 1, 2024. It does not matter your age, the way you qualify, or if you are single, married, or are an essential person. But what about February 2?
February 2 could be your payday if you are on retirement benefits. However, not all retirees collect money on the same day. Some retirees will get their checks on February 14, 21 or 28.
To get retirement benefits you must have started receiving payments before May 1997. But do not worry because there are two more possibilities to get money on this day.
On the one hand, you could get it if you are receiving both SSI (payments on Feb. 1) and Social Security at the same time (on Feb. 2). What is more, there is one group of SSDI beneficiaries who can also get their checks on Feb. 2. SSDI could be due on Feb. 2 if you collected benefits before May 1997.
HOW MUCH MONEY COULD I RECEIVE IF GET FEB. 1 OR 2 PAYMENTS?
The amount of your payments will depend on your personal background. For example, if you get SSI you could get up to $943 (single) or $1,415 if you are married and you are both eligible.
Essential persons could get up to $472. However, the average payments for a single person are $674 as of December 2023. If you qualify for SSDI, the largest check you could receive is $3,822.
The average SSDI payment is about $1,537, up from $1,449. Those in retirement could get a check worth $1,907 on average. Maximum amounts could be up to $4,873 for 70-year-olds.
At Full Retirement Age, seniors could get checks of up to $3,822. If you file at 62 in 2024, the largest check you could receive is worth up to $2,710. Wait for three mailing days before you contact SSA if your check is missing. Banks may take longer to process payments sometimes, so call them first.