Social Security payments will soon be delivered to a group of retirement beneficiaries in the United States. Checks and direct deposits will be sent on August 28, 2024. Only those recipients who meet all the conditions will receive this money.
For example, the birthday requirement is essential. Those seniors born from the 21st to the 31st of January through December may get their retirement benefit payment if they are not receiving SSI and if they did not start getting Social Security before May 1997.
How much money can Social Security recipients aged 62-70 get on August 28?
The amount of money a retirement beneficiary can receive will depend on several factors:
- the age at which they applied for retirement benefits
- the earnings they had as a worker
- the taxes paid to Social Security
- the number of years they worked for
All these things can allow you to get a lower or higher payment. For example, If you earned the contribution and benefit base for 35 years, filed at 70 for Social Security, had jobs that paid payroll taxes and worked for thirty-five years, you can receive up to $4,873 on August 28, 2024. If you are 62, it can be up to $2,710 and 66 years and 8 months up to $3,822.
Social Security payments for seniors aged 62-70 in September
The maximum amounts for these payments in September will be the same. Average payments may be slightly higher. In fact, they are about $1,919 on average, up from $1,908 in January 2024.
The Social Security payments for retirees aged 62-70 will be due on:
- September 3: if receiving SSI and retirement benefits or if you started getting payments before May 1997
- September 11: not eligible for Sep. 3 and your birthday is from 1-10.
- September 18: not eligible for Sep. 3 and your birthday is from 11-20.
- September 25: not eligible for Sep. 3 and your birthday is from 21-31.
The Supplemental Security Income payment for September will not be due on the first. Actually, Social Security had to reschedule it for August 30. This is because SSI cannot be sent on a Sunday, so it is sent ahead of schedule on the previous business day.