Have you checked to see if you have less than 48 hours left to get your Social Security payment? If you were born between the first and tenth of any given month, this might be the case. You must first fulfill specific requirements and submit in order to be eligible for a direct transfer or cheque of up to $3,822. For example, you are not eligible to receive Supplemental Security Income (SSI).
You must have begun receiving Social Security payments after April 30, 1997, in order to be eligible for the December 11, 2024 payment. On January 3, 2025, anyone who got benefits before to May 1997 will get a new payment.
Who will receive a Social Security payment of up to $3,822 in 9 days?
On December 18, the Social Security Administration (SSA) will begin paying out more benefits. But you can’t obtain it if:
- you are on SSI
- you have broken SSA rules
- you got benefits before May 1997
Your next paycheck will be on December 18, 2024, assuming you are not in that situation and your birthday occurs between the 11th and the 20th. Keep in mind that your compensation will depend on your prior earnings and work history.
66-67-year-olds who will get $3,822 from Social Security
To be clear, any eligible retiree who is 62 years of age or older is welcome to attend the December 11 and December 18 events. But you have to be at least 66 years and 8 months old to get up to $3,822.
That is 2024’s Full Retirement Age. Keep in mind that you must have filed at Full Retirement Age, earned the taxable maximum for 35 years, and worked in Social Security-covered employment throughout that time in order to get the maximum payment at that age.
A incentive of up to $4,873 may be awarded to those who choose to wait and file in 2024 at the age of 70. That is a lot more than the maximum amount of benefits that Social Security will pay out in 2024. Therefore, postponing retirement increases your settlement.
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Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.