Millions of retired Americans will receive the last Social Security payment of the month in less than two days. These monthly benefits are intended to help seniors cover their living expenses, but many struggle to pay all their bills and keep up with inflation. Social Security retirement payments typically replace 40% of retirement beneficiaries’ pre-retirement income.
So, it’s important to start saving and planning as soon as possible. If you qualify for retirement benefits or are looking forward to retiring soon, here’s what you need to know about the upcoming $1,900 Social Security payment.
How Much Can You Expect?
On average, beneficiaries get a $1,900 Social Security payment, but this amount can vary based on their earnings and the age they begin collecting benefits. Some retirees receive monthly checks up to $2,710 if they claimed benefits at 62 and $3,822 if they collected benefits at the full retirement age (FRA), currently set at 67.
A small group of Americans could be eligible for the maximum monthly benefit worth up to $4,873 if they decided to delay collecting benefits until they were 70 and contributed for 35 years based on their maximum taxable earnings.
Payment Dates for Next Month
After the SSA delivers the last Social Security payment on Wednesday, June 26th, for those retired workers who collected benefits after May 1997 and were born between the 21st and 31st, the federal agency will resume payments on the first of July for all recipients who receive Supplemental Security Income (SSI) benefits. Here are the upcoming payment dates for July:
Social Security Programs and Payment Dates:
- Retirement benefits and Survivor benefits:
- 2nd Wednesday (July 10th) for Birthdate range: 1st–10th.
- 3rd Wednesday (July 17th) for Birthdate range: 11th–20th.
- 4th Wednesday (July 24th) for Birthdate range: 21st–31st.
Note: If your Social Security payment doesn’t arrive on the scheduled date, wait at least three mailing dates before contacting SSA’s customer service, or check first on your My Social Security Account to avoid overloading customer care processes.
How Can Seniors Claim Their Social Security Payment in 2024?
There are three main ways to apply to begin receiving your monthly Social Security payments:
Online
This is the easiest and most convenient option, especially if you are claiming retirement benefits. You’ll need to create or log into your My Social Security account on the Social Security Administration’s website and follow the application process.
By Phone
Call the Social Security Administration’s national toll-free number at 1-800-772-1213 (TTY 1-800-325-0778). You will speak with a representative who will walk you through the application process.
In-Person
Go to your local Social Security office. It is recommended that you make an appointment in advance by calling the national number or contacting your local office directly. This can be useful if you have complicated questions or need help gathering documents.
The Social Security Administration (SSA) will ask you to provide basic information about yourself, including:
- Your Social Security number and the city, state, and country where you were born.
- Names of employers for the past two years and dates of employment.
- Your spouse’s or former spouse’s Social Security number and date of birth, the date you were married or divorced, and the city, state, and country where you were married.
- Routing number and account number for your bank account for direct deposit.
- Names of eligible children (children under age 18, 18, or 19 who are still in high school or who became disabled before age 22).
FAQs about Social Security Payments
What is the average Social Security payment?
The average Social Security payment is about $1,900, but it varies based on individual earnings and the age you start collecting benefits.
When are Social Security payments made?
Payments are made on the 2nd, 3rd, and 4th Wednesdays of each month, depending on your birthdate range.
How can I apply for Social Security benefits?
You can apply online, by phone, or in person at your local Social Security office.
What information do I need to provide when applying?
You’ll need to provide your Social Security number, employment history, marital status, bank information, and details about any eligible children.
What should I do if my payment doesn’t arrive on time?
Wait at least three mailing days before contacting SSA’s customer service or check your My Social Security Account online.
Understanding your Social Security payments can help you better plan for your retirement.
Whether you’re just starting to think about retirement or are already receiving benefits, knowing the payment schedule and how to apply can make the process smoother.
Make sure to keep track of important dates and have all necessary information ready when applying for benefits.