Retirement benefits can be received since you are 62 years old. However, only eligible beneficiaries who file can collect them. The amount of your monthly payments may not be the same as others.
This is because the age you file can increase or reduce your benefits. The earnings you had as a worker can also affect retirement benefits. The number of years you worked for is also essential.
Working for at least 35 years is essential to get higher retirement benefits. Social Security payment schedule says that retirees can receive a new check on February 21 or 28.
WHO IS ELIGIBLE FOR THE FEBRUARY 21 RETIREMENT CHECK?
Retirees who are on benefits from May 1997 onward and whose birthdays are from 11-20 will get this payment. Therefore, not all seniors aged 62 or older will be eligible for this payday.
Other retirees will get their Social Security benefits on February 28. Requirements are very similar. Nevertheless, there is an important difference. Those receiving retirement benefits whose birthday is from 21-31 will receive their payment on February 28.
Do not forget that if you have not filed for Social Security, you cannot receive this payment. Even if you have earned enough work credits and you meet the birthday requirement.
AMOUNTS RETIREES CAN RECEIVE (Feb. 21/28)
Retirees can get up to $4,873. But this is not possible if they have not earned the taxable maximum for 35 years and filed at the age of 70. If you meet these requirements but you file at 62 or at Full Retirement Age, you can get up to $2,710 or $3,822 in 2024.
The maximum amounts are the same for all February payments for retirees. Average payments are worth about $1,909 as of January 2024. So most seniors may get something closer to this amount.
Other retirees who have just worked for 10 years and earned a lot less, may receive a smaller retirement benefit. In fact, they may even qualify for Supplemental Security Income and SNAP benefits.
