The Social Security Administration has not scheduled any monthly payments for retirees from August 5 through August 13. Therefore, if you have not received your payment on August 2, you must still wait to get this money.
In fact, the Administration will not send a new payment for retirees until August 14. This will be a payday for one of the three groups of seniors who have not received their money in August, but who is eligible?
Social Security eligibility for August 14
To be eligible for a monthly payment on August 14, you must meet three essential conditions. Of course, there is no need to say that you cannot receive retirement benefits unless you apply and get approval.
Contrary to popular belief, not all Americans can receive Social Security unless they have earned 40 work credits at age 62. As for the August 14 payment, you must have been on benefits but not before May 1997.
What is more, you cannot be a Supplemental Security Income recipient to get the August 14 check or direct deposit. Last, but not least, you must have been born from the 1st to the 10th, that is before the 11th of any month.
Social Security payment amount for Wednesday, August 14
The amount of your Social Security payment will depend on the earnings you had as a worker. However, it is possible to know both the average payments and the maximum benefit amounts for retirees.
For example, the average payment as of June 2024 is worth $1,918. Bear in mind that this amount may be lower if you just worked for 10 years, had a lower-than-average salary and you filed early.
When it comes to maximum amounts in retirement, retirees can get up to $4,873. This happens when they file at 70, work for 35 years at least, earn the contribution and benefit base all those years and had jobs covered by SSA.