Depending on when you started collecting Social Security retirement or SSDI benefit payments, you may get your money on a different date. Those who got benefits after April 30, 1997, have 3 payment dates.
However, they will only be eligible if they are not receiving Supplemental Security Income. If they are also on SSI, their payday is usually the 1st for SSI and the third for retirement or disability insurance payments.
New paydays in August for Social Security
The new and upcoming payments for retirees and disability insurance recipients will take place on three different paydays. Bear in mind that you can only receive one Social Security check or direct deposit.
- August 14: Those whose birthday is before the 11th
- August 21: recipients born from the 11th to the 20th
- August 28: beneficiaries whose birth date is from 21-31
If you are on Supplemental Security Income, you will not receive the September payment on the 1st. It has been rescheduled and you will get it on August 30, 2024. But what about the amounts for SSDI and retirement benefits in August?
Social Security payment amounts on the 14th, 21st and 28th
The amount of your payment does not depend on the payday but on your work history. For example, if you had jobs covered by Social Security for 35 years and you earned the taxable maximum all those years you can receive up to $4,873.
The average payment for retirees, as of June 2024, is $1,918. On the contrary, if you are on SSDI, you may receive a much lower amount. Although it can be up to $3,822, many recipients do not even qualify for an average SSDI of just $1,537.
Bear in mind that having a disability in your 20s or 30s can prevent you from working and paying payroll taxes. So it drastically reduces your payment amount. Those who have a very low check can apply for SSI or SNAP benefits at the same time.
