Retirees in the United States may have some payday changes in August. These changes may affect them, positively, depending on the payday and benefits they are eligible for.
Social Security has announced a change in the payment date for 2 large groups of retirees in the USA. For example, if you usually receive your retirement benefit on the third, it will not be due on that day.
Change in the retirement payment on August 3
The Administration has confirmed when the August 3rd payment will be sent. In fact, the delivery will take place on August 2. Hence, retirees will receive their monthly payment 2 days in advance.
To be eligible for the August 2 payment for retirees, you must meet one of the 2 conditions. For example, you qualify if you started receiving retirement benefits before May 1997.
Another possibility to receive this monthly payment on August 2 is if you receive Supplemental Security Income and Social Security retirement benefits. Thus, you may benefit from another advance payment. SSA has confirmed that SSI will be due on August 1 and August 30. The latter will be the SSI for September.
Social Security retirement benefits August 14-28
The next payments will not arrive until August 14*. This money will be for those whose birthday is from the 1st to the 10th. That is, you were born before the 11th of any month.
Another possibility if you were born later is to get a check or direct deposit on August 21*. This payment will be for those who were born after the 10th but before the 21st.
Those retired workers whose birth date is after the 20th will receive their retirement benefits on August 28*. *None of these payments are for those who are on SSI or who got benefits before May 1997.
As for the maximum amount, retirees can receive up to $4,873 if they filed for Social Security at the age of 70. Average payments can be about $1,918.