American retirees can learn about the upcoming payments the Social Security Administration has set. Even if some retirees could receive a check or direct deposit last week, eligible retirees will not be able to get a new payment shortly. In fact, it will take over a week until they can receive their monthly payment from the Administration.
Actually, the next Social Security payment in November will be issued on November 13, 2024. Since the previous monthly payment was due on November 1, there is a 12-day difference between the first check for pre-1997 retirees and the one for those who qualify for the first Wednesday round.
Will you receive a Social Security payment on November 13?
If you received a check or direct deposit on November 1, you are not eligible. This is because you started getting monthly payments before May 1997 or because you are receiving retirement and Supplemental Security Income payments.
Hence, only those who began receiving Social Security after April 30, 1997, and meet the birthday requirement will get a new payment on November 13, 2024.
Retirees whose birthday is from the 1st to the 10th of any month will receive Social Security on November 13, as long as they meet the previously mentioned conditions.
How much can retirees get from Social Security on November 13?
The amount of your Social Security payments depends on your work history. Therefore, each direct deposit or check may be different. If you have no idea of what a payment amount could be like, SSA unveiled the average checks for retirees.
As of September 2024, the average check is about $1,921. Bear in mind that this is just an average figure. Some retirees get a much lower payment because they filed at 62 and they just worked for about 10 years.
As a matter of fact, other retirees can receive a payment of up to $4,873. This amount will be even higher once the 2025 COLA increase comes infot effect in January 2025. But to get such a large payments you must have:
- earned the contribution a benefit base and worked for 35 years in jobs covered by SSA
- filed at 70
- remain eligible and do not break SSA rules