The Social Security Administration (SSA) revealed the date for the last salary in January. This will be on January 24th and there are many possible payment amounts.
Remember that only those who have applied for Social security can receive these benefits. While some Americans receive benefits on their own records, others receive them on their spouses' records. If you filed and started collecting checks before May 1997, this payment is not for you.
In truth, this will be the last group of Social Security Beneficiaries to enjoy the 2024 COLA increase. Getting 3.2% will be necessary for those who can't make ends meet.
WHO QUALIFIES FOR A $912 SOCIAL SECURITY CHECK ON JANUARY 24, 2024?
Note that the average Social Security Retirement Benefit for workers is $1,907 in 2024. That's an increase from $1,848 in 2023, which is about $59 extra per month. So who can get 912 dollars?
According to Social Security latest monthly statistics snapshot, spouses of retired workers can receive an average payment worth $912.03. Therefore, if you are the spouse of a retired worker, you may qualify.
The main requirement is your date of birth. If the beneficiary was born between 21-31, you are entitled to this Social security payment in USA. Of course, you must have applied for and received approval from May 1997 onwards as stated above.
But there is another group of beneficiaries who can receive benefits on this payday as well. Children of retired workers may also receive some money from the Administration. The average payment for children of retired workers is $890 as of December 2023.
SPOUSAL BENEFITS AND REQUIREMENTS
The moment your spouse filed for Social security retirement benefits, you may also be entitled to monthly checks. Of course, you may be eligible because the SSA bases this spousal benefit on the worker's earnings.
Forget spousal benefits if you're not yet 62. This is also the age at which the worker can start receiving retirement benefits. However, filing early means getting less money per month.
If you rely on Social security to make ends meet, you need to delay retirement until age 70. Once you reach full retirement age (67 if you were born in the 1960s), you can receive 100% of your benefits.
Waiting until age 70 can give you 24% extra monthly. Having a qualifying child may also allow you to access spousal benefits. This child must be under the age of 16 and receiving Social Security Disability Benefits.