According to Social Security, retired workers and recipients of Social Security Disability Insurance (SSDI) who applied for benefits after May 1997 could expect to receive two Social Security payments this month.
One in five Americans, or more than 71 million people, are estimated by the SSA to be receiving Social Security benefits at this time.
These numbers show that four of the five claimants are elderly, and the other five are either Social Security Disability Insurance recipients or young survivors of deceased workers. Find out when you’ll receive retirement or disability benefits this month if you qualify for them.
Which conditions must retirees and those with disabilities satisfy in order to be eligible for Social Security benefits?
Requirements for Workers in Retirement
You have to work and pay Social Security contributions in order to be eligible for retirement benefits. You can do this by either filing income tax returns if you are self-employed or by payroll taxes, as required by the Federal Insurance Contribution Act, or FICA.
Recall that you can obtain credits to apply for Social Security by paying Social Security taxes on your salary. For instance, an individual may be qualified for these Social Security benefits if they have 40 lifetime credits, as there is a maximum of four credits that can be earned annually.
Disabled persons’ requirements
In the US, a person must prove that their condition keeps them from working or from participating in payroll taxes and significant gainful activity (SGA) in order to be eligible for Social Security condition Insurance (SSDI).
Disability payments might not be sufficient to pay for all of your costs, so you should explore for other sources of income.
Additionally, in order to qualify for disability benefits, a person must meet Social Security’s definition of disability, which includes having a significant medical condition that has plagued them for more than a year and placing them in imminent danger of death or rendering them unable to work.
It is also important to remember that some beneficiaries may be eligible for Social Security payments under the SSI program in addition to SSDI benefits. Despite the fact that these two programs have different objectives, many persons who meet the stringent requirements can be qualified for both.
Importantly, recipients who would like to apply do not have to submit two applications; however, their monthly income cannot be greater than the amount of SSI payments.
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When will disabled and retired workers receive their Social Security benefits?
The two remaining Social Security payments are scheduled to be paid on Wednesday, September 18th and 25th, 2024, to retired workers and handicapped individuals. Importantly, beneficiaries must have fulfilled a number of prerequisites in order to be eligible for these benefits.
These include claiming benefits within the full retirement age range, proving sufficient Social Security credits, paying payroll taxes, and providing medical documentation of their disability, in the case of those who applied for the Social Security Disability Insurance (SSDI) program.
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According to the SSA‘s rules for this year, all of the eligible payout amounts for retired workers and disabled individuals are listed below:
| Social Security payments | Retirement benefits | Survivors benefits | Disability benefits |
| On average | $1,900 | $1,505 | $1,537 |
| Other payments | Age 62: $2,710 Age 67: $3,822 Age 70: $4,873 | Individual: $1,773 2 Children: $3,653 | Blind recipients: $2,590 Maximum payment: $3,822 |
Please be advised that the Social Security Administration (SSA) provides monthly deposits to survivors in addition to retirement and disability benefits. In this case, the circumstances surrounding the deceased beneficiary will dictate the compensation amount.
As previously mentioned, depending on the number of children they have, survivors may also qualify for additional benefits.
Recipients should be advised that the process of applying for Social Security payments might be challenging. For this reason, it’s important to discuss the requirements and your situation with a financial advisor or a Social Security specialist.
