Social Security retirement benefits are for those who have earned enough work credits. As you work, you pay payroll taxes to the Administration. Generally, after ten years of work, you become eligible for these monthly payments.
For your information, it is essential to file for retirement benefits. Otherwise, you will not receive any monthly payments even if you turn 70 years old. The moment you file can determine when you receive monthly Social Security benefits. but your birthday can also be an important thing to take into account.
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ARE YOU ON BENEFITS BEFORE MAY 1997?
If you have been on benefits for so long, you may be eligible for the next May 3 Social Security payment. Those who began getting benefits before May 1997 will get benefits on the third.
Regardless of your age, the amount you get or your birthday. It is true that the amount of your Social Security can be different from other retirees. The earnings you had as a worker affect payment amounts.
That is why some seniors who earned the taxable maximum for 35 years and filed at 70 can receive up to $4,873 on May 3. Check below for other possible average payments in May 2024.
ARE YOU ON SOCIAL SECURITY AND ON SSI?
If you are receiving Social Security and Supplemental Security Income at the same time, check this. SSI recipients will receive their monthly check or direct deposit on May 1.
Then, if you also get Social Security, you will receive your retirement or SSDI payment on May 3. Therefore, you will collect 2 payments in just 48 hours. But there is more good news.
If you qualify for SSI and Social Security, you will receive the June payment for SSI on May 31. In this way, retirees who also get Supplemental Security Income will get three payments in May 2024. Do not forget to report any changes in your personal situation that could affect SSI or SSDI benefits.