Retirees in the United States can expect Social Security payments on certain dates in October and November. These payments depend on when you were born and your work history. Here’s what you need to know about these payments:
Social Security Payment in October
On October 23, Social Security will send direct payments to retirees. If you were born between July 21 and December 31, you will receive your payment on this date.
The amount you get depends on your lifetime earnings and how much you paid in Social Security taxes.
People who earned more money over their careers will get higher payments, but the payment amount varies based on each individual’s work and tax history.
Social Security Payment for Retirees on November 1
If you receive Social Security or Supplemental Security Income (SSI), you will get your payment on November 1, 2024. However, if you started receiving benefits after April 30, 1997, your payment will not be on November 1.
Instead, it will be on one of the following dates: November 13, November 20, or November 27, depending on when you were born.
If you are eligible for both SSI and Social Security, both payments will arrive on November 1. If November 3 is a Sunday, and you were expecting your payment on that day, it will be sent early, on the previous workday.
How Much Will You Get?
The amount you will receive depends on your work history. If you worked for 35 years in jobs covered by Social Security and retired at 70, you could get as much as $4,873 each month.
However, most people will receive less than that. If you file for Social Security at your full retirement age, you could receive about $3,822 a month. If you choose to start your benefits at age 62, your monthly payment will be about $2,710.
For many retirees, the average payment is closer to $1,920 per month. Your payment could be lower if you didn’t work for as many years or didn’t make a lot of money during your working years.
Social Security payments are a vital source of income for many retirees. The amount you get depends on how long you worked and your earnings history. Understanding the dates and amounts of your payments can help you manage your finances as you plan for retirement.
1. When will I receive my Social Security payment?
Social Security payments are sent on specific dates depending on your birthdate. If you were born between July 21 and December 31, your payment will arrive on October 23. Otherwise, your payment will be made on November 1 or a later date.
2. Why am I getting my payment on a different date than other people?
Your payment date depends on when you started receiving benefits and when you were born. If you started after April 30, 1997, your payment will be delayed until later in November.
3. How much can I expect to receive from Social Security?
The amount you receive depends on how much you worked and paid into Social Security. Some retirees can receive as much as $4,873 per month, but most will receive less based on their earnings.
4. Will I get both my SSI and Social Security payments together?
Yes, if you are eligible for both SSI and Social Security, you will receive both payments on the same day.
5. What happens if my payment is scheduled for November 3?
If November 3 falls on a Sunday, your payment will be made on the previous workday, so you will receive it on November 1 instead.
