The October 3 payment was not for retirees aged 62 or later who were on Social Security. They can get a new direct deposit on one of the three upcoming paydays.
Remember that you need to get approved before you can get Social Security. It goes without saying that you can’t break SSA rules to keep getting them. The Agency will check your birth date for the October direct payments that are still due.
Upcoming Social Security payments for retirees aged 62-70 or older
When you get your direct payment in October, it will depend on what day of the month you were born. In this case, if your birthday is October 7, your next payment is October 9.
Your pay day is October 9 if your birthday is between January 1 and October 10, that is before November 11. On October 16, people born after October 10 but before October 21 will get money from Social Security.
The last payment is due on October 23, 2024. If you were born between January 21 and December 31, this is when your payment will arrive from Social Security.
October maximum and average Social Security payments for retirees
About $1,920 will be paid each month in October. This is the late number that the Administration showed off in September. That means it will be close to that number. The average amount paid each month doesn’t change by a lot.
When you die, your Social Security benefits will be up to:
- $2,710 if you filed at the age of 62
- $3,822 if you applied for Social Security at Full Retirement Age (66 years and 8 months old)
- $4,873 if you filed for retirement benefits at 70
You can see that the highest rewards in October 2024 are a lot more than the average payments. But if you still have a job, there are ways to make your monthly payments bigger in the future.
You should wait as long as possible to start getting retirement benefits and file when you turn 70. Gains can also come from making a lot of money. It’s necessary to have worked for 35 years and had jobs that are covered by SSA.
Also See:- Official announcement of higher required minimum distributions (RMD): This will impact retirees
