Social Security provides financial support to millions of Americans, but not everyone qualifies for the maximum payment amount. On November 13, 2024, a $4,873 payment will be sent to eligible individuals.
However, strict eligibility rules apply, and only a small percentage of people will qualify. Let’s break it down to help you understand how this works and if you’re eligible.
Who Gets the $4,873 Social Security Payment?
Not everyone qualifies for the $4,873 maximum Social Security payment. These factors determine eligibility:
- Birth Date: Payments on November 13 are for those born before November 11.
- Eligibility Rules:
- You cannot be a recipient of Supplemental Security Income (SSI).
- You must have earned the taxable maximum income for at least 35 years.
- Your job must have been covered by the Social Security Administration (SSA).
- Filing Age: To qualify for $4,873, you must have filed for benefits at age 70 and met all SSA requirements.
Payment Schedule for November 2024
Social Security payments in November depend on your birth date:
- November 13: For individuals born before November 11.
- November 20: For individuals born between November 11 and November 20.
- November 27: For individuals born between November 21 and November 30.
If you received a payment on November 1, you won’t get payments on November 13, 20, or 27.
How to Get the Maximum Payment?
Getting the highest Social Security payment of $4,873 requires meeting these conditions:
- Work History: You must have worked for 35 years, earning the taxable maximum each year.
- Filing Age: You need to delay claiming benefits until age 70. Filing earlier reduces your benefit amount:
- At age 62, you could receive up to $2,710.
- At full retirement age (around 66-67), you could get up to $3,822.
Future Increases in Social Security
The SSA plans to adjust payments in 2025 due to the Cost-of-Living Adjustment (COLA). This means amounts will increase, helping recipients keep up with inflation.
Social Security provides vital financial support, but qualifying for the highest payments is challenging.
The $4,873 payment scheduled for November 13, 2024, is only for those who meet specific birthdate and eligibility requirements. To maximize your benefits, it’s essential to plan your retirement strategy and follow SSA guidelines.
Who qualifies for the $4,873 Social Security payment?
Those who worked for 35 years, earned the taxable maximum, filed at age 70, and meet SSA rules.
When will I get my payment in November 2024?
It depends on your birth date:
November 13: Born before November 11
November 20: Born November 11–20
November 27: Born November 21–30
What if I received a payment on November 1, 2024?
If you got a November 1 payment, you won’t receive payments on November 13, 20, or 27.
What happens if I file for benefits before age 70?
Filing earlier reduces your benefits: at age 62, you can receive up to $2,710; at full retirement age, up to $3,822.
Will Social Security payments increase in 2025?
Yes, the COLA adjustment will raise payment amounts to help recipients with inflation.
