If you’re 65 or older in the U.S., you could be eligible for various monthly payments, such as Social Security retirement benefits and Supplemental Security Income (SSI).
These payments provide crucial financial support to seniors, especially those with limited income. Let’s explore the upcoming payment dates and eligibility details to ensure you don’t miss out on any benefits.
The next significant date to mark on your calendar is August 30, 2024. On this date, eligible 65-year-olds could receive direct payments through SSI, which are meant to assist low-income seniors, as well as individuals who are blind or have disabilities.
Direct SSI Payments For 65 Year Old Seniors In USA
The Social Security Administration (SSA) has scheduled the Supplemental Security Income (SSI) payment for September to be disbursed on August 30, 2024.
This means that eligible recipients might see their direct deposit or check hit their bank account within 24 hours of this date.
SSI is specifically designed to support seniors aged 65 or older who meet certain income criteria. It offers financial aid to those who might not have a sufficient retirement fund or other income sources.
The Federal Government funds the SSI program, and payments are made either through direct deposit or by check.
Who Else Qualifies for SSI?
While SSI mainly targets seniors aged 65 and older, it is also available to those under 65 who are disabled or blind.
If you do not qualify for SSI due to age or health conditions, you may still be eligible for other benefits.
Social Security
Besides SSI, 65-year-olds may qualify for Social Security retirement benefits. The payout dates depend on several factors, such as when you first started receiving benefits and your birthdate.
If you began receiving Social Security benefits before May 1997, your September payment will arrive on September 3, 2024.
However, this does not typically apply to those who have only recently turned 65, as this payment schedule targets long-term recipients.
Retirement Payment Dates
For most recipients, retirement benefits are paid according to the day of the month on which they were born:
- September 11, 2024: For those born between the 1st and 10th.
- September 18, 2024: For those born between the 11th and 20th.
- September 25, 2024: For those born between the 21st and 31st.
If you are a 65-year-old currently receiving SSI benefits, you could potentially qualify for a payment on August 30 and another on one of the dates listed above, depending on your birth date.
Eligibility
To qualify for Social Security retirement benefits, you must have worked for at least 10 years (or 40 quarters) and paid sufficient payroll taxes.
It is important to note that while 65 was once considered the Full Retirement Age (FRA), it is gradually increasing to 67 for those born in 1960 or later. If you haven’t earned the necessary 40 work credits, applying for SSI might be a better option.
Important Considerations
Here are some essential points to remember about these benefits:
- Double Eligibility: It is possible to receive both SSI and Social Security retirement benefits if you meet the criteria for both.
- Payment Method: Payments are typically made via direct deposit or check.
- Income Limits: Keep in mind that SSI is meant for low-income individuals, so you must fall below a certain income threshold to qualify.
If you’re unsure about your eligibility or the best way to maximize your benefits, consider reaching out to the Social Security Administration for guidance.
FAQs
When is the next SSI payment for 65-year-olds?
August 30, 2024.
Who qualifies for the SSI payment on August 30?
Seniors aged 65+ or disabled and low-income individuals.
When is the next Social Security retirement payment?
September 3, 11, 18, or 25, depending on your birth date.
How do I qualify for Social Security retirement benefits?
You need 40 work credits or at least 10 years of work history.
Is 65 still considered the Full Retirement Age?
No, it is gradually increasing to 67.
