The Social Security Administration has confirmed this week’s payment of up to $4,873. October will bring 4 different paydays and it will depend on several conditions whether you receive your money early or later in the month.
Those who receive the smallest Social Security checks and direct deposits this week may also be entitled to the October 1 SSI payment. So, some seniors will receive 2 different payments this week if eligible.
This week’s Social Security payment on Oct. 3
October 3 will be when many seniors receiving retirement payments can collect their money from the Administration. However, SSA will ensure that they meet all the requirements before sending the payment.
- October 3 will be your payment if you receive both:
- SSI
- & Social Security retirement benefits (if on SSDI too)
- October 3 will be your payday if you got benefits before May 1997
As for the maximum amount you could receive on October 3, it will be up to $4,873 if you file at 70. Those who file at Full Retirement Age can get up to $3,822 and up to $2,710 if you file at 62.
Next week’s Social Security payment
In this case, next week’s Social Security direct payments and checks will be issued on October 9. Or what is the same, on the second Wednesday of October. What is more, you will only be eligible if you do not receive SSI and meet the birthday requirement.
If you got benefits before May 1997, you are not eligible either. Those who were born from 1-10 will be eligible for the October 9 payment from Social Security. If you do not qualify for any of the 2, do not worry.
SSA has scheduled 2 more Wednesday payments on October 16 and October 23. As for the average payment for retired workers, it is $1,920. Regardless of the payday. If you feel your Wednesday payment is too low and you have no other sources of income, apply for Supplemental Security Income.