Get Ready: 66-67-Year-Olds Will Receive Up to $3,882 on Three Key Dates in November
According to Vibes.okdiario, Retirees can expect their Social Security payments in November, with some receiving them as early as November 1. However, those who filed for benefits in 2024 are more likely to receive their payments starting from November 13 onward.
Payment Details for November 1
For retirees who have low income and few resources and receive both Social Security and Supplemental Security Income (SSI), the payment will be significantly lower than the maximum benefit of $3,822. Additionally, retirees who filed for benefits before May 1997 are also eligible for a payment on November 1, but they may not fall within the age range of 66-67.
November 13 Payment Round
The first round of Wednesday payments will occur on November 13. Retirees aged 66-67 who qualify must have been born between the 1st and 10th of the month, regardless of the year.
Maximum Payment Eligibility
For those receiving their payment on November 13, the maximum amount can reach $3,822 if the individual meets the following criteria:
- Filed for Social Security after April 30, 1997
- Did not collect SSI on November 1
- Worked for 35 years
- Filed at their Full Retirement Age
- Earned the contribution and benefit base for 35 years
- Held jobs covered by the SSA
Also read: $300 Million Juul Settlement: Direct Payments Up to $10K Leave Americans Stunned
Social Security Payments for November 20 and 27
It’s essential to remember that these payment dates are not solely for retirees aged 66-67; other retirees may qualify for different payment amounts.
- November 20: Payments for individuals born from the 11th to the 20th of the month.
- November 27: Payments for those born after the 20th.
Average Retirement Payment Insights
As of August 2024, the average retirement payment for all retired workers is approximately $1,920. However, this average amount may be slightly lower for retirees aged 66 and 67, as the SSA has yet to update the average payments.
If you are still working, you could benefit from delayed retirement credits by applying for benefits at age 70, which could increase your benefits by about 24%. Please note that the 2025 COLA is not included in the November payments.
Conclusion
In summary, retirees should be aware of the different payment dates and amounts for November. Understanding the eligibility criteria and payment schedule can help beneficiaries plan their finances more effectively.
