Despite the fact that millions of Americans receive payments from SSA (Social Security Administration), only a small part of them qualify for a large check or direct deposit. Not knowing the way the Administration’s rules work may affect your retirement benefit amount.
62-year-olds could receive an average payment worth less than $1,300 per month. However, if you have worked hard enough to achieve the largest benefit at this age, you could obtain a payment of up to $2,710.
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SSA WILL SEND CHECKS OF $2,710 ON THESE DATES
If you are 62 years old and receive $2,710 you could receive your payment on three different paydays. In fact, your next check from SSA could be due on the second, Wednesday, the third Tuesday, or the fourth Wednesday in June.
SSA will then deliver checks or direct deposit on June 12, 18 and 26. The day you were born matters. First, birth dates from 1-10 on June 12. Then, birthdays from 11-20 on June 18 and the rest on the 26th. Although there is a payment on June 3, you may not get so much money on that date.
This is because June 3 is for those who get SSI at the same time and have a low income. What is more, the second reason to get benefits on June 3 is to be on benefits before May 1997, so you can’t be 62 if you filed back then.
WHY CAN SOME RETIREES GET $2,710 FROM SSA AT 62 IN JUNE?
The main reason why some retirees can get up to $2,710 from SSA is because they meet the 4 requirements that the Administration set. If you are still working, there are at least 2 ways to increase your benefits in retirement.
The first thing to qualify for $2,710 is that you must have worked for 35 years. Those workers who have not managed to work for so long will see their benefit amounts reduced by Social Security.
What is more, you must have earned the taxable maximum for all those years. Only those workers who filed at 62 and meet all the previous requirements can be eligible. Do not forget that your jobs must be covered by SSA and you must have paid enough payroll taxes.