“Here! Special Finance News For You At MJP”
The Social Security Administration has announced the retirement benefit payments for September. 64-year-olds can receive an average check or direct deposit worth $1,460.
For your information, the average retirement benefit for all retired workers is worth $1,919. As you may have guessed, those who file before the Full Retirement Age may get a much lower payment. Reductions can be up to 30% if you file at 62. Delayed retirement can mean getting up to 30% extra.
Payment dates for Social Security for 64-year-olds and other recipients
The first payment in September for 64-year-olds and other younger or older retirees will be due on the third. However, only 2 groups of seniors may receive it because there are special rules.
- retirement benefit payment on September 3: for SSI recipients who get retirement benefits as well
- retirement benefit payment on September 3: for retirees who filed and got benefits before May 1997
Therefore, it will be more likely that you get Social Security on September 3 because you are also receiving the Supplemental Security Income. Interestingly, SSI will be issued on August 30, not on September 1, 2024. Sunday cannot be a payday so SSA had to reschedule this payment.
Social Security from September 11 onward
Another possibility to receive Social Security retirement benefits is to be eligible for your birth date. So, that would imply you did not get benefits before May 1997, you do not get SSI and you meet the birthday requirement.
- retirement benefit check or direct deposit on September 11: born before the 11th
- retirement benefit check or direct deposit on September 18: born from 11-20
- retirement benefit check or direct deposit on September 25: born after the 20th, that is from 21-31
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The maximum retirement benefit at 62 is worth $2,710, so if you filed at 64, you may qualify for a larger payment if you meet all the requirements set by the Administration.
However, it will be lower than the maximum at 66 years and 8 months, which is $3,822.
