As retirees eagerly anticipate their Social Security payments, it’s essential to stay informed about the upcoming payment dates, especially for those who won’t receive their usual deposits in the next two pay periods.
This article provides a detailed look at the payment schedule for September 2024, as well as the average and maximum benefit amounts.
No Payments for Two Groups in Late August
The Social Security Administration (SSA) will not issue payments to two specific groups of retirees during the next two paydays—August 21 and 28, 2024. The affected groups are:
- Retirees who received payments on August 2, 2024.
- Retirees who received payments on August 14, 2024.
If you received your payment on either of these dates, you will not receive another payment until September.
The reason behind this is that Social Security operates on a staggered payment schedule, based on factors such as the date of birth and the year you started receiving benefits.
September 2024 Payment Schedule
Here’s when you can expect your next Social Security payment in September 2024:
- September 3, 2024: If you received your last payment on August 2, your next payment will be on this date. This payment is specifically for those who began receiving Social Security benefits before May 1997 or who receive both Social Security and Supplemental Security Income (SSI).
- September 11, 2024: If you started receiving benefits after April 30, 1997, and your birth date falls between the 1st and the 10th of the month, your next payment is scheduled for September 11, 2024.
Social Security Benefit Amounts
The amount you receive each month from Social Security depends on various factors, including your filing age, earnings history, and the length of time you’ve worked in jobs covered by Social Security.
- Maximum Payment: The highest possible monthly benefit in 2024 is $4,873. This amount is only available to those who have:
- Filed for benefits at age 70.
- Earned the taxable maximum income for 35 years.
- Worked in Social Security-covered jobs throughout their career.
- Full Retirement Age (FRA) Payment: If you meet the criteria above but filed for benefits at your Full Retirement Age, your maximum monthly payment would be $3,822.
- Early Retirement Payment: Retirees who chose to start receiving benefits at age 62 can receive up to $2,710 per month.
- Average Payment: As of June 2024, the average monthly retirement benefit is $1,918.
For those receiving Social Security Disability Insurance (SSDI), the maximum payment is $3,822, while the average SSDI payment is $1,537.
Knowing the payment schedule and understanding the factors that affect your Social Security benefits can help you manage your finances better.
While some retirees will experience a gap in payments during the latter part of August 2024, the SSA ensures that your payments will resume according to the standard schedule in September. Stay informed and plan accordingly to make the most of your benefits.
FAQs
Who won’t receive Social Security payments on August 21 and 28, 2024?
Retirees who received payments on August 2 or 14, 2024, will not receive another payment until September.
When is the next Social Security payment for those paid on August 2, 2024?
The next payment will be on September 3, 2024.
What is the maximum Social Security benefit for 2024?
The maximum benefit is $4,873 per month if you filed at age 70.
How much is the average Social Security payment in 2024?
As of June 2024, the average monthly retirement benefit is $1,918.
When will I get my payment if I started benefits after April 30, 1997, and was born on the 5th?
Your next payment is due on September 11, 2024.
