The Social Security Administration (SSA) has only sent out one payment, on June 3. For millions of retirees and disabled people who receive Social Security Disability Insurance (SSDI), Social Security payments are indispensable. So, in this article, I’ll tell you when the next payment of up to $4,873 is due. For those retiring at age 70, you should consider this information relevant to collecting your money.
The first people to receive their Social Security payments on June 3 were those who claimed their benefits before May 1997. Now, the next Social Security payment is scheduled for Wednesday, June 12, for beneficiaries who claimed benefits beginning in May 1997 and whose date of birth is between the 1st and 10th of the month.
After this payment is covered, the next payments are scheduled for Tuesday, June 18 (for beneficiaries with dates of birth between the 11th and 20th) and Wednesday, June 26 (for beneficiaries born between the 21st and 31st).
Who qualifies for the $4,873 monthly Social Security payment?
Retirees who qualify for the $4,873 monthly payment are those who received benefits up to age 70 and paid Social Security taxes based on their highest taxable earnings in the previous 35 years.
It should be noted that reaching this maximum Social Security amount is extremely complicated. The beneficiary must have a significantly high earnings history over 35 years of work.
The average Social Security payment for this 2024 is $1,907 per month. As you can see, comparatively lower than the maximum amount available, making it more attainable for most retired U.S. workers.
