If you’re retired and waiting for your next Social Security payment, it’s important to know when to expect it.
Some people already received their payments in early November, but for many retirees, the next payment won’t come until November 13, 2024.
This article explains who will get the payment, how much they might receive, and why the timing can be different for different people.
When Will the Next Social Security Payment Arrive?
For retirees who are eligible for Social Security benefits, the timing of their payments depends on when they began receiving payments and their birthdate.
If you received your Social Security payment on November 1, 2024, you will not get another payment until the following month. For most people who qualify, the next payment will be on November 13, 2024.
Who Will Get a Social Security Payment on November 13?
Not everyone will receive a payment on November 13. To be eligible, you must have started receiving Social Security payments after April 30, 1997, and meet the age requirements.
If your birthday falls between the 1st and 10th of any month, and you meet the other requirements, you will receive your payment on November 13. People who started receiving payments before May 1997 will not get a payment on that date.
How Much Will Retirees Get from Social Security?
The amount a retiree gets from Social Security varies based on how much they worked and paid into the system.
Most people will receive different amounts, depending on their work history and when they chose to start receiving benefits.
For example, some retirees may get payments as high as $4,873 per month, especially if they worked for 35 years and filed at age 70.
What Happens with Social Security Payments in 2025?
Starting in January 2025, Social Security payments will increase due to a cost-of-living adjustment (COLA). This means that retirees can expect higher payments in the new year.
However, to get the highest possible payment, retirees must have worked in jobs covered by Social Security for many years, and followed all the rules set by the Social Security Administration.
How Can I Maximize My Social Security Benefits?
To maximize Social Security benefits, you need to have worked for 35 years in jobs covered by Social Security.
You should also wait until age 70 to file for benefits, as this will give you the highest possible monthly payment. Following all SSA rules is important to maintain eligibility.
When will I get my Social Security payment in November?
If you started getting Social Security after May 1997 and your birthday is between the 1st and 10th of the month, you will get your payment on November 13, 2024.
How much will my Social Security check be?
The amount you get depends on how much you worked and when you started receiving payments. The average check is different for everyone.
Will my payment be different every month?
Yes, your Social Security payment can be different each month based on your work history, any adjustments, or changes in your personal situation.
How can I get the most money from Social Security?
To get the most money, you should work for at least 35 years in jobs covered by Social Security and wait until age 70 to start collecting benefits.
What is COLA, and how does it affect my Social Security payments?
COLA stands for Cost-of-Living Adjustment. It is an increase in your Social Security payments to keep up with inflation. The next COLA increase will happen in January 2025.
