If you’re a Social Security retirement recipient or a Supplemental Security Income (SSI) beneficiary, it’s essential to stay informed about your payment dates, especially as we move through August 2024. Here’s what you need to know about the upcoming payments, eligibility criteria, and more.
Payment Dates
Social Security retirement payments are distributed based on your birthdate, and there are specific conditions you must meet to qualify for payments on particular dates.
- August 21, 2024: If your birthday falls between the 11th and 20th of any month, you will receive your Social Security payment on this date. This payment date does not apply to those who also receive SSI or started receiving Social Security before May 1997.
- August 28, 2024: If your birthday is after the 20th of the month and you are not on SSI and did not receive Social Security benefits before May 1997, you will receive your payment on this date.
- September 3, 2024: Retirees who started receiving Social Security before May 1997 will receive their next payment on this date. This date also applies to some SSDI (Social Security Disability Insurance) recipients.
SSI Payment Dates
SSI payments are typically issued on the 1st of each month, but there are exceptions:
- August 30, 2024: SSI recipients will receive a payment of up to $943 on this date. This payment is ahead of the regular September schedule due to timing considerations.
- September 1, 2024: Normally, SSI payments would be issued on this date, but since September 1 falls on a weekend, the payment is moved up to August 30.
SSDI Payment Dates
For SSDI recipients, the payment dates align with those of Social Security retirement benefits:
- August 21, 2024: Payment for SSDI recipients with birthdays between the 11th and 20th of the month.
- August 28, 2024: Payment for SSDI recipients with birthdays after the 20th of the month.
- September 3, 2024: Payment for SSDI recipients who began receiving benefits before May 1997.
Maximum Benefit Amounts
The maximum amounts for Social Security retirement and SSDI benefits vary:
- Up to $4,873: This is the highest possible amount for those who delay retirement benefits until age 70.
- Up to $3,822: This amount is available to those who file at Full Retirement Age (FRA) or for the largest SSDI payment in 2024.
- Up to $2,710: This is the maximum for those who choose early filing at age 62.
Eligibility
To qualify for SSI, you must meet the following criteria:
- Age and Disability: You must be 65 or older, blind, or have a disability that prevents you from working for at least 12 months.
- Income and Resources: You must have limited income and resources.
- Citizenship and Residency: You must be a U.S. citizen or meet specific noncitizen requirements, and reside in one of the 50 states, D.C., or the Northern Mariana Islands.
- Absence from the U.S.: If you are outside the U.S. for 30 consecutive days or more, you are ineligible for SSI for any full month you are outside the country.
Important Considerations
- Income and Living Arrangements: The basic monthly SSI payment for 2024 is $943 for an individual and $1,415 for a couple. However, actual payment amounts may vary based on your income, living arrangements, and state supplements.
- Absence from the U.S.: Being outside the U.S. for more than 30 consecutive days makes you ineligible for SSI, and you must be back in the U.S. for 30 consecutive days to restart your benefits.
- Resource Transfer: Giving away resources or selling them below market value can make you ineligible for SSI for up to 36 months.
Knowing the timing and eligibility for your Social Security and SSI payments is crucial to ensure you receive the financial support you’re entitled to. Make sure to keep track of the payment dates that apply to you, and ensure you meet all necessary conditions to avoid delays or issues with your benefits.
FAQs
When will I receive my Social Security payment in August 2024?
Payment dates are August 21 for birthdays between the 11th and 20th, and August 28 for birthdays after the 20th.
Will there be another Social Security payment after August 21, 2024?
Yes, some recipients will receive a payment on August 28, 2024.
How much is the maximum Social Security benefit in 2024?
The maximum benefit can be up to $4,873 for delayed retirement, $3,822 at FRA, and $2,710 for early filing at 62.
When will SSI recipients receive their payment?
SSI recipients will receive their payment on August 30, 2024, instead of September 1.
Can SSDI recipients expect payments on the same dates as Social Security retirees?
Yes, SSDI payment dates align with Social Security retirement payments.