The Social Security Administration has confirmed that there will be 6 payments in May 2024. Getting a direct deposit is the fastest and safest way to collect your monthly payments. Paper checks can be lost, stolen, or delayed because of severe weather conditions.
The first Americans to collect payments from Social Security are those on SSI. SSI stands for Supplemental Security Income and it gives money to low-income couples or individuals. What is more, you must be at least 65, have a disability, or be blind. So, there are many requirements to be eligible.
Important links |
---|
More News |
PAYMENTS |
stimulus checks |
Social Security COLA |
WHEN HAS SOCIAL SECURITY SCHEDULED THE SSI PAYMENT?
As a matter of fact, the Administration has set May 1 as the SSI payment. However, there is good news for Supplemental Security Income recipients. This is because they will receive their June payment one day in advance. This may not seem like a lot, but it can mean the world to someone with no money left.
Once this money is sent, Social Security will send the first retirement and SSDI payment on May 3. Actually, 2 different groups of recipients can qualify for this monthly payment. This direct deposits will be for those on benefits before May 1997.
Besides, if you are on Supplemental Security Income and Social Security, your payday will also be May 3. So, these recipients will collect 2 direct deposits in less than 48 hours. Which is great because they can get money to pay debt, loans, or buy things they need early in the month.
SOCIAL SECURITY FOR FILERS AFTER APRIL 30 1997
Those who started collecting benefits after April 30, 1997, will qualify for one of the 3 payments on May 8, 15, or 22. The Administration will ensure that recipients meet the birthday requirement too. In this way, it is a fair payment date for everyone.
May 8 will be when those whose birthday is from 1-10 receive Social Security. If your birth date is from 11-20, your payday will be May 15. Therefore, they will be the next two payments after the one on May 3. Retirees get average checks worth $1,913 and SSDI of about $1,537. The largest payment in retirement is worth $4,873 and $3,822 for SSDI.
Social Security has scheduled the last payment for retirees and SSDI recipients on May 22. However, it is only for those whose birthday is from 21-31. Apart from this payment for SSDI and retirement recipients, there will be a Supplemental Security Income direct deposit on May 31.