banks send a new payment to millions eligible pensioners. If you are aged 62 or over, you may qualify for one of the checks in February. Of course, this is only for those who have been approved by Social Security.
February 2 is the second salary in February. The first one payment was due on February 1 and was only for those Supplemental Security Income (SSI) beneficiaries.
To get Social Security pension payment you must have worked in jobs covered by the SSA. Even if you worked 35 years, reached full retirement age, and your earnings were high, you won't receive benefits unless you file for them.
ELIGIBLE PAYING ADULTS FOR FEBRUARY 2 IN THE US
If you received your SSI check on February 1st and are also on Social Security, you are eligible on February 2nd checking. However, this is not the only way to qualify for it money.
If you've been on Social Security retirement benefits for many years, you may still have a chance to qualify. Seniors who started receiving Social Security before May 1997 are also eligible payment.
Therefore, those 65-year-olds with low incomes who receive SSI they can get their check on February 2nd. But also those adults with pension benefits before May 1997.
It's true that this could be your payday even if you don't receive retirement benefits. Social security Disability Insured persons can also receive their money if they meet the requirements already mentioned.
MAXIMUM AMOUNTS FOR PAYMENT
The Social Security Administration increased benefits by 3.2% after the 2024 COLA. The SSA also set the maximum benefit amount for that year. As a result, the largest payment can be 4873 dollars.
Note that the largest payment is $4,555 in 2023. So the biggest benefit has increased much more than 3.2%. This is because they use the taxable maximum to calculate the maximum amounts.
If you earn the taxable maximum for 35 years and file at age 70, you could get $4,873. Average paychecks are much lower, as they are only around $1,907 in 2024.
The previous average payment is $1,848 as of December 2023. If you also receive SSI, your check could average about $674. Maximum SSI amounts are $943 (single) or $1,415 (married).