This is the fourth payment that seniors get every month from the Social Security Administration. In fact, on October 23, 2024, a new check will be sent out.
Remember that you won’t be able to get any more Social Security payouts in October if you were eligible for any of the previous payments. On top of that, you can’t get the payment for October 23 if you are getting SSI. Also, this check or direct payment is only for people who are old enough.
Social Security on October 23, last check this month
People born between January 21 and December 31 will get their last direct payment or check on January 23. That is, if your birthday isn’t on the 20th. You obviously couldn’t have gotten Social Security money before May 1997.
On November 1, people who got their first payment from the Administration before May 1997 will get it. They usually get money on November 3, but today is a Sunday.
The payment for November 3 will be sent on November 1. Because of this, the payment for seniors and the payment for Supplemental Security Income will both be made on the same day. People on SSDI who were born between January 21 and December 31 and haven’t gotten their October payment yet will get it on October 23.
Amounts for the October 23 payment, Social Security confirms them
The amount of your monthly payment will depend on:
- earnings as a worker
- age you filed for Social Security
- number of years you worked for
- the taxes you paid as you worked
- if you earned or not the taxable maximum for 35 years
It is not possible for everyone to get the same amount of money because of this. Someone might get a small check, while someone else might get a big one. People who are retired get about $1,920 a month on average as of August 2024.
If you filed when you were 62, the most you can get is $2,710. People who applied for retirement benefits at the Full Retirement Age of 66 in 2024 can get up to $3,822. You can get a check for up to $4,873 if you file at age 70.
