Soon, people who are retired and eligible will get money from Social Security. It’s time for two different groups of beneficiaries to get their monthly payment after the checks and direct transfers have been sent out.
When you became eligible for Social Security will depend on when you first got your payment. It’s also important to say if you get Supplemental Security Income or not. Last but not least, the birth date is very important.
You have 24 hours to cash a Social Security check
If you get retirement benefits but don’t qualify for the August 2 or 14 payment, you might get a new check right away. People who get a paper check might have to wait three mailing days to report a late payment if it wasn’t made on time.
People over 65 whose birthday is between August 11 and August 20 will get their retirement benefits on August 21. Remember that the 2024 COLA is already part of these benefits. Retirees will have to wait until January to get the 2025 COLA boost, though.
A group called the Senior Citizens League said that the most recent COLA prediction is only 2.57%. So, people who get Social Security will not see their January 2025 payment go up as much as it did in 2024, 2023, or 2022.
On August 28, you have nine days to get Social Security
On the 28th, the last payment of Social Security retirement benefits will be made. That is, you might be eligible if your birthday is between April 21 and April 30, 1997, and you started getting payments after that date.
You can’t get the August 28 paycheck if you are on both retirement and SSI at the same time. People who get SSI will get their September payment on August 30, 2024.
In general, the amount for seniors is $1,918. In its most recent Monthly Statistical Snapshot, for July 2024, which came out in August, SSA said that. The most money you can get when you leave is $4,873.
