Retirees aged 62 or older can still receive a new payment in August. Bear in mind that if you got a Social Security check on August 2, you will not be eligible for any of the upcoming payments this month.
For your information, it is essential to file for retirement benefits. Those who do not apply cannot receive them and once you apply you must wait for SSA’s approval.
Retirement check amounts in August
The average retirement benefit payment for retired workers is worth $1,918 as of June 2024. That is what the Social Security Administration stated in its monthly statistical snapshot released in July.
Social Security payments for retirees can be much higher. However, you must have met all the conditions the Administration has set. For instance, you must have filed at 70, worked for 35 years, had jobs that pay taxes to SSA, and earned the taxable maximum all those years.
In fact, as of January 2024, the largest retirement benefit is worth $4,873. If you file at 62, you can only get up to $2,710. Filing at Full Retirement Age means you can receive 100 percent of your benefits and it can be up to $3,822.
Retirement payment dates and eligibility
The next Social Security payment for seniors who are retired will be on August 14, 2024. It will be in your bank account if you meet all the following requirements:
- you do not receive SSI payments
- you did not get benefits before May 1997
- your birthday is from 1-10 of any month
Social Security has scheduled 2 more paydays for retirees. The two first conditions are exactly the same for eligible recipients on August 21 and August 28. however, the birthdate matters to receive it one week after the 14th or 2 weeks later.
Social Security has scheduled an SSI payment on August 30. However, those retirees who get money on August 14, 21 or 28 ar enot eligible. Only some who generally receive benefits on the third of the month.