Are you a retiree, on disability (SSDI), or receiving SSI (Supplemental Security Income)? If so, you might be getting a payment within the next two weeks, provided you’re eligible.
First up, there’s a payment scheduled for retirees and disability insurance recipients on July 24. To qualify, you must have been receiving benefits since before April 30, 1997, not be receiving SSI benefits, and have a birthday after the 20th of any month.
Payment Details
The amount of your Social Security payment varies based on several factors, including when you filed, your work history, and your earnings in jobs covered by the SSA. Here’s a quick rundown of what to expect:
Retirees: The average payment on July 24 will be about $1,918. However, some retirees could receive the largest Social Security payment, which is $4,873. To qualify for this maximum amount, you must have earned the taxable maximum for 35 years and filed at age 70.
SSDI Recipients: If you’re receiving SSDI, expect an average payment of around $1,537. While the largest disability benefit is $3,822, meeting the requirements for this amount is challenging due to the nature of disabilities.
Social Security
Looking ahead to August, the first payment will be made on the 1st. Supplemental Security Income (SSI) recipients will receive their checks first next month, but they’ll also be the last to get them. This is because the SSI payment for September will be issued on August 30 instead of September 1.
SSI Payments: The average SSI amount is about $697. The maximum benefit is $943 for individuals and $1,415 for married couples.
Combined SSI and Social Security Payments: If you’re receiving both SSI and Social Security, your next payment will be on August 2, not August 3. Note that Social Security payments will also be sent to those who started receiving benefits before May 1997 on August 2, 2024.
Plan Your Budget
It’s crucial to plan your monthly budget before your payment arrives. Knowing when and how much you’ll receive can help you manage your finances more effectively. Here’s a summary of the upcoming payment dates and amounts to help you stay on track:
| Payment Date | Type | Average Amount | Maximum Amount |
|---|---|---|---|
| July 24 | Social Security (Retirees) | $1,918 | $4,873 |
| July 24 | SSDI | $1,537 | $3,822 |
| August 1 | SSI | $697 | $943 (individuals), $1,415 (couples) |
| August 2 | Combined SSI and Social Security | Varies | Varies |
Staying informed about your Social Security payments helps you manage your finances efficiently. Whether you’re planning for your daily expenses or saving for a future goal, knowing your payment schedule and amounts is key.
Stay on top of your payments and plan wisely to ensure financial stability. Mark these dates on your calendar and make the most out of your Social Security benefits!
FAQs
When is the next Social Security payment?
The next payment is on July 24 for retirees and SSDI recipients.
What is the average SSI payment amount?
The average SSI payment is about $697.
When will the SSI September payment be sent?
The SSI September payment will be sent on August 30.
How much can retirees receive on July 24?
Retirees can receive an average of $1,918, with a maximum of $4,873.
When do combined SSI and Social Security payments arrive?
They arrive on August 2, 2024.