Pensioners are bearing the brunt of the sharp rise in prices. Therefore, more and more pensioners are exhausted money before their next one payment arrives November 15th is here and so is your new one checking if eligible.
If you applied for Social Security and received payments before May 1997, this check is not for you. Only those who have received Social Security since May 1997 may qualify.
Moreover, there is a requirement that is mandatory. Unless you meet this condition, you will not redeem a payment on November 15, 2023. In case you have no idea about this requirement, it has to do with the day you were born.
Eligibility of pensioners for payment from 15 November
Not only did you have to file for Social security, but you must also have a birthday between the 11th and 20th. This check will be in your bank account if you requested direct deposit.
Some seniors may have chosen to receive their monthly payment on a Direct Express® Debit Card®. However, it is much better to collect your monthly pension benefit in your bank account. It will definitely be safer and faster.
Those who receive November 15 A Social Security check can go up to $4,555. However, the average amounts are not that high. In truth, retired workers receive roughly $1,841. It’s not even $2,000, so it’s a lot less.
The biggest check at full retirement age is $3,627 in 2023. These 62-year-old Social Security seniors can collect payment to $2,572 in 2023. Therefore, filing early means getting about 30% less.
Last payment in November for eligible retirees
If your birthday is between the 21st and 31st of any month and you have not qualified for the previous payments, you’ll get your check on November 22, 2023. Of course, you must have applied for Social Security before then. It will only be for retirees who have already received benefits but not before May 1997.
Make sure you plan your monthly budget before your money arrives. That way, you’ll be able to stick with it and save money. Inflation can destroy your finances when you least expect it.
If you think your economic situation has worsened, apply for supplementary insurance income payments. It is possible to cash in Social Security and SSI at the same time. SSI payments it could be worth as much as $914 in 2023.
To get your new COLA increase, all you have to do is wait until January. The payments November will not have the new COLA, but they include the 2023 COLA increase. December 29th will bring the new COLA increase, but only for those on Supplemental Security Income.