After November 13, the Social Security Administration (SSA) announced two more paydays for retirees. The paydays will be for all ages ranging from 62 to 70 and older retirees too. The thing is these monthly payments can be up to $4,873 if you meet all the requirements. Of course, you may also be eligible for a low, average, or higher-than-average check.
The Agency has confirmed that the next payment date for retirees will be due on November 20. That is, exactly one week after other retirees received their monthly payments. Bear in mind that the last 3 rounds of checks or direct deposits for retirees are issued on Wednesdays. Usually, they are sent on the second, third, and fourth Wednesday. So the last one will arrive in the recipient’s accounts on November 27.
Requirements to receive money from Social Security on November 20 or 27
The Social Security Administration will only send payments on November 20 to retirees whose birthday falls from 11-20. It does not matter the year or month you were born as long as you filed, got approval, are not receiving SSI and did not get benefits before May 1997.
If you are in that situation but your birth date is from 21-31, regardless of the month or year, your Social Security check or direct deposit will be sent on November 27.
Do not forget that these paydays are also for disability insurance (SSDI) recipients, so they are not just for retirees. SSDI amounts will be lower on average and maximum amounts will not be so high either.
Maximum amounts for Social Security payments in November
The largest payment a retiree can receive at the age of 62 is $2,710. Therefore, this will be the maximum amount if you filed at 62. Those who have filed at Full Retirement Age can receive it up to $3,822.
Howver, if you obtain delayed credits and file at the age of 70, you could receive up to $4,873. For that large payment from Social Security you must:
- have worked for at least thirty-five years
- earned the contribution and benefit base for all those years
- had jobs that paid payroll taxes, that it, they are covered by Social Security
- filing at 70 is required too