This Week: $1,920 Direct Payments for Qualifying Social Security Retirees
According to Vibes.okdiario, The Social Security Administration (SSA) has begun sending direct payments for October on the 9th and 16th. Although the 2025 Cost-of-Living Adjustment (COLA) increase has been announced, the Agency will not implement any changes to retirement benefits until January 2025.
Payment Dates for October
For those individuals whose birthdays fall between the 21st and 31st, Social Security payments for October will be issued on October 23rd. It’s important to note that this payment date does not apply to recipients of Supplemental Security Income (SSI) benefits or to individuals who began receiving benefits before May 1997.
Maximum Social Security Amounts for October 23
- Retirees Filing at Age 70: Those who filed for retirement at age 70 in 2024 can expect to receive a maximum payment of $4,873 in October. This amount represents the highest possible retirement check available on the payment date.
- Retirees Filing at Full Retirement Age (FRA): Seniors who chose to file at their Full Retirement Age can receive up to $3,822.
- Retirees Filing at Age 62: For individuals who filed at age 62 in 2024, the monthly payment can be up to $2,710. However, it is important to note that few workers actually receive such high amounts. As of August 2024, the average payment is approximately $1,920.
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Social Security Payments for November
The SSA will continue issuing checks and direct deposits in November following the October 23rd payment. Notably, the first retirement payment for November will be released 48 hours ahead of schedule.
This may come as a surprise to those who are not up-to-date with Social Security news, as some retirees will receive their payments on November 1st. Additionally, recipients of SSI benefits will receive two payments on this same day.
Payment Schedule Breakdown
- November 1: SSI payments will typically be sent, and some retirees will receive their Social Security payment.
- Subsequent Payments: Other Social Security payments for retirees will be issued on November 13, 20, and 27.
It is worth mentioning that SSI payments scheduled for December will be sent on November 29 due to December 1 falling on a Sunday, necessitating the rescheduling of the payment.
