While some elderly received a payment on January 3, 2024, others have to wait a little longer. In fact, it will be on January 10th when millions of seniors will receive a new retirement check.
To get this money, you must have filed for Social Security in retirement first. The thing is, you must have applied for benefits after or in May 1997. But not before.
What’s more, the Social Security Administration will only send you a payment if you meet the date of birth requirement. Depending on when your birthday is, you may or may not receive it on January 10th.
WHO IS RESPONSIBLE FOR SSA’S $1,907 VALUE PAYMENT RIGHTS?
The administration informs seniors that they are eligible for this monthly check on January 10th if their date of birth is from 1-10. That is, if you were born on the first ten days of each month.
For your information, those who started receiving Social Security payments before May 1997, do not qualify for any of the three remaining inspections in January. The next date will be January 17.
So, seven days after January 10th payment, there will be another new check. To receive retirement benefits on January 17th, your birthday must be between the 11th and 20th.
The last one payment in January for pensioners it will be on January 24. Of course, they must also meet the date of birth requirement. Make sure your birthday is between the 21st and 31st to cash the last Social Security check in January.
IS $1,907 THE BIGGEST JANUARY CHECK FOR RETIRES?
In truth, $1907 is not the biggest payment possible on January 10, 17 or 24. That’s just the average amount for retirees that Social Security announced for 2024 in its latest COLA fact sheet.
What is true is that all beneficiaries will get 3.2% more in 2024. That means all Social Security beneficiaries will collect an average of about $50 more. Retirees will get about $59 extra.
The largest social security payment it will be $4,873 in 2024. However, this big check is only for those who retired at age 70 and earned the taxable maximum for 35 years or more.
At full retirement age, the oldest payment a possible $3,822 in 2024. If you choose to file for Social Security at age 62, you can get up to $2,710 if you qualify. Apply now for benefits if you’re 70. If you’re younger, check your Social Security statement to see if it’s worth filing or if it’s best to wait.