Retirees on Social Security to Receive $1,920 Direct Payments This Week for Qualified Beneficiaries

A straight payment from the Social Security Administration (SSA) was sent on October 9 and 16. The Agency won’t raise retirement benefits until January 2025, even if the 2025 COLA rise has been made public.

But people whose birthday is between October 21 and October 31 will get their October Social Security on October 23. This will not be your paycheck if you are also getting SSI. It won’t be either if you started getting benefits before May 1997.

The most you can get from Social Security on October 23

People who retire at age 70 in 2024 can get up to $4,873 in October, no matter what Wednesday they get paid. That’s the biggest check you’ll get when you quit on October 23.

People over the age of 65 who filed their taxes at Full Retirement Age (FRA) can get up to $3,822. You can see that your Social Security payment will be less if you file early.

If you filed when you were 62 in 2024, you could have to pay up to $2,710 a month. Remember that not many people get paid that much. It’s also hard for many people to get the usual payments, which are $1,920 as of August 2024.

November is Social Security payment month

After October 23, 2024, the Agency will still send checks and direct payments in November. The first retirement payment will be sent out 48 hours early.

People who don’t know about Social Security news will be surprised by this. So, some retired people will get Social Security on November 1, and if they also get SSI, they will get two checks at the same time.

Always keep in mind that SSI is sent on November 1. On November 13, 20, or 27, other payments for retirees will be sent. With 5 paydays planned for November, it’s possible that people on SSI and Social Security will share a paycheck.

The reason is easy to understand. The SSI amount for December was set by SSA on November 29. The SSI payment had to be moved because December 1 is a Sunday.