Social Security: which people will not receive money until October 23

In October 2024, Some people receiving Social Security benefits won’t see their payment until October 23. This can be confusing for many beneficiaries. The date the money is received depends on the beneficiary’s date of birth, as well as other rules established by the Social Security Administration (SSA).

To qualify for the October 23 payment, you must meet certain birthday-related requirements. Payment dates are distributed throughout the month according to this criterion:

• If your date of birth is October 1-10, you will receive your payment on October 9.
• Those born between October 11 and 20 will see their money on October 16.
• Finally, beneficiaries born between October 21 and 31 will receive their payment on October 23.

It is important to note that, even if the payment arrives later in the month, all beneficiaries will receive their money on time and as scheduled. This means there is no actual delay in payments, it is simply a distribution based on date of birth.

However, There are two significant exceptions.. If a beneficiary began receiving payments before May 1997, their next Social Security check is scheduled for November 1, two days earlier than usual. Additionally, those who are receiving SSI (Supplemental Security Income) benefits will not qualify for the October 23 payment or any payment on that day.

The amount each beneficiary can receive varies considerably. A retiree who applies at age 70 can receive up to $4,873. If requested at age 62, the amount can be up to $2,710. Instead, those who request their payment at full age can receive up to $3,822.

On average, the Social Security payment is around $1,920 dollars. However, it is important to note that those who have only worked for 10 years, applied at age 62, and had a low salary may receive a significantly smaller check.

Additionally, some retirees who have begun receiving Social Security benefits and have low incomes may qualify for SSI benefits. In this case, the average monthly payment is $575 dollars. The next SSI check won’t be sent out until November 1st. The decision on new applications may take longer if submitted in October.

It is essential that Social Security beneficiaries are aware of these dates and requirements. Knowing when you will receive your payments can help you better plan your monthly finances.

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