If you’re 62 and receiving Social Security retirement benefits, staying informed about payment dates and amounts is crucial. Here’s what you need to know about the upcoming payment schedules, eligibility, and how your earnings history affects your check.
November Payments
The next Social Security payment date for many 62-year-olds is November 27, 2024. If your birthday falls between the 21st and 31st of the month and you began receiving benefits after May 1997, this will likely be your payday. Payments vary based on lifetime earnings, so those with higher earnings histories could receive checks or deposits up to $2,710. Smaller payments are also distributed on the same date.
If you’ve already received a retirement payment this month, your next payment will arrive in December on one of the following dates:
- December 3
- December 11
- December 18
December Payment Adjustments
For those receiving Social Security payments on the fourth Wednesday of the month, December’s payout will be earlier than usual. Because December 25 is a federal holiday, payments will be issued on December 24 instead. This ensures retirees have access to funds before the holiday season.
Who Qualifies ?
Not everyone receiving Social Security benefits qualifies for the maximum payout of $2,710 on November 27. To receive this amount, you must meet the following criteria:
- Filed for Social Security retirement benefits at age 62.
- Received approval for benefits.
- Worked for 35 years with consistent earnings.
- Earned the maximum taxable income (contribution and benefit base) for 35 years.
- Held jobs covered by the Social Security Administration.
If you meet these requirements but have not yet filed for benefits, you might want to delay filing until reaching Full Retirement Age (FRA). Doing so can increase your benefits:
| Filing Age | Monthly Maximum (2024) |
|---|---|
| 62 | $2,710 |
| FRA (67) | $3,822 |
| 70 | $4,873 |
Delaying until age 70 allows you to receive 24% more than your FRA benefits due to delayed retirement credits.
Planning Ahead
With holidays and financial planning in mind, knowing your Social Security payment dates ensures you’re prepared for expenses. Whether you’re filing at 62 or waiting for a higher benefit, knowing the payment structure can help you make informed decisions about your retirement.
FAQs
When is the next payment for 62-year-olds?
The next payment is on November 27, 2024.
Why is December’s payment on the 24th?
December 25 is a holiday, so payment is issued early.
Who qualifies for $2,710 on November 27?
Those who filed at 62 with 35 years of high earnings qualify.
What is the benefit of filing at 70?
Filing at 70 increases benefits by 24% over FRA.
How does work history affect Social Security?
Longer and higher earnings histories lead to larger payments.
