For this month of September, the SSA scheduled four different payment dates instead of the traditional five, as the allocation of funds for Supplemental Security Income (SSI) beneficiaries was brought forward. This payment is normally made on the first day of each month, but since September 1 was a Sunday, it was brought forward to August 30.
Then, the September 11 , payments were intended for pension and Social Security Disability Insurance (SSDI) beneficiaries born between the 1st and 10th of any month.
The next scheduled payment will arrive this week: it is intended for those pension and SSDI beneficiaries who were born between the 11th and 21st of any month. Finally, the final round of payments is intended for those people who were born between the 21st and 31st of any month.
Social Security Payments Arriving This Week — Check if You’re Getting More
The month of September is the last month of fiscal year 2024, we are almost nowhere near the end, and when the month of October arrives on the calendar we will begin to have a good idea of how much the increase in Insurance benefits will be. Social. Let us remember that every year these types of payments are increased according to the cost of living adjustment (COLA), an instrument that was created so that beneficiaries do not lose purchasing power in the face of inflation and the continuous increase in food prices. goods and services.
The amount of money you can get from Social Security will depend on the age at which you decide to retire. Although the full retirement age (FRA) is different for each person, this will depend on the year in which they were born, you can start making your request for payments from the age of 62.
Retirement Thresholds in the United States
If you retire at a very young age, you could have a cut of up to 30% in your benefits, and if you wait until age 70, you could count on a significant increase, up to 24% above.
Here we leave you the table of percentages:
63 years
■ Profit percentage: Fence 75%
■ Description : If you wait one more year after age 62, the percentage would increase, but it is still considerably less than the 100% you would get at your age.
64 years
■ Profit percentage: Fence 80%
■ Description : The profits are still small, but you are closer to your total profit.
65 years
■ Profit percentage : Fence 86.7%
■ Description : When you request your retirement benefit at this age, the reduction is less than in previous years, but you still do not reach 100% of your benefits.
66 years
■ Profit percentage : Fence 93.3%
■ Description : You are very close to the FROM for those born between 1955 and 1959, but you would still be accepting that small cut in the monthly benefit.
67 years (FRA for those born after 1960)
■ Profit percentage : 100% of the total income
■ Description : At this age, you receive the full benefit you have accrued, based on your earnings history and years of contributions.
68 years
■ Profit percentage: Around 108%
■ Description : Delaying your retirement one more year gives you a bono for late payment, with an increase in the monthly payment of approximately 8% annually after age 67.
69 years
■ Profit percentage: Around 116%
■ Description : Continuing to work or delaying applying for benefits significantly increases your monthly payments.
70 years
■ Profit percentage: Around 124%
■ Description : This is the maximum you can receive. There is no additional benefit if you decide to delay your retirement after this age.
How Can I Increase My Social Security Benefits Payments?
There are various strategies that you can carry out to make your Social Security checks bigger when you start requesting them. The first thing is that you have worked for at least 35 years and that in all the months of these years you have made contributions to the respective taxes. If nothing was paid in any of the months, then the SSA will take that month as “zero”, which will decrease your average.