Good news for all retirees, since new Social Security payments are coming this month. While retirement can be a time to relax and enjoy, keeping track of your Social Security deposits or paper checks doesn’t have to be a headache. Here we leave you all the information you need for August 2024. And remember, a good nap always helps pass the time while you wait for your payment.
Key Dates for Payment of Benefits
Social Security payments are distributed on three different days of the month, depending on the beneficiary’s day of birth:
- Second Wednesday of the month (August 14): For those born between 1 and 10.
- Third Wednesday of the month (August 21): For those born between the 11th and the 20th.
- Fourth Wednesday of the month (August 28): For those born between the 21st and the 31st.
Additionally, if you receive both Social Security and Supplemental Security Income (SSI), your Social Security payments will arrive on August 3, and your SSI payments will arrive on August 1.
More Information about Social Security Benefits
In 2024, Social Security benefit amounts have changed for the better. So, if you are thinking about what your next vacation destination will be, here are some important information:
Social Security Disability Insurance (SSDI)
As of May 2024, the maximum Social Security Disability Insurance (SSDI) benefit for a disabled worker is $3,822 per month. However, the average SSDI benefit is $1,489.26 per month, as only those with very high incomes can get the maximum amount. So, keep dreaming about the lottery!
Supplemental Security Income (SSI)
As of January 1, 2024, the maximum federal monthly Supplemental Security Income (SSI) payments are:
- Eligible Individual: $943
- Eligible couple: $1,415
- essential person: $472
Retirement Benefits
Social Security retirement benefit amounts also vary depending on the age at which you decide to start receiving them. So, if you’d rather wait a little longer before you start collecting those checks, here are the numbers:
- At 62 years old: $2,710 per month
- Full retirement age (66 or 67 years, depending on your year of birth): $3,822 per month
- At 70 years old: $4,873 per month
What to Do if You Don’t Receive Social Security Benefits on Time
If the expected day arrives and you don’t receive your Social Security payment, don’t worry, here are some steps you can follow:
- Wait Three Additional Days: Sometimes payments may be delayed due to holidays or banking issues. The Social Security Administration (SSA) recommends waiting at least three additional days before taking any action.
- Verify your Bank Account: Make sure your bank account is active and there are no problems with your bank. Also check if there were any errors in the account information provided to Social Security.
- Contact Social Security: If after three additional days your payment still has not arrived, contact the SSA at 1-800-772-1213 or visit your local Social Security office. They are available to help you Monday through Friday, 7 a.m. to 5 p.m. to 7 p.m.
- Check your correspondence: Be sure to review any letters or notices from Social Security that may explain why your payment hasn’t arrived.
- Check your My Social Security Account: If you have an online account with My Social Security, log in and review your payment information and any recent notifications.
My Social Security Transitions to the Federal Service Login.gov
To manage your Social Security benefits, you can use a free and secure online account. This account allows users to check the status of their applications, request a replacement card, and access online notifications. According to the Social Security Administration (SSA) blog, in 2022, more than 64 million people had a My Social Security account.
On July 12, 2024, the SSA announced a significant change for many users of these accounts. Those who created their My Social Security account before September 18, 2021 will need to migrate to a new type of online account, known as Login.gov. With a Login.gov account, you can continue to access SSA online services.
SSA explained that this change is due to several reasons, including simplification, compliance with federal regulations and security. The new Login.gov login experience is designed to be easier to use and to modernize users’ online access across different government agencies.
How to Migrate your Account to Login.gov
To transition to Login.gov, follow these steps:
- Sign in to your My Social Security account.
- You will see a message indicating the need to switch to Login.gov.
- Follow the instructions to link your account. Once completed, you will see a confirmation screen.
- You will have immediate access to My Social Security and other services.
If you already have a Login.gov account, you don’t need to do anything else.
Is it Safe to Migrate to Login.gov?
It’s always important to be on the lookout for potential scams, especially when you’re asked to update your credentials online. However, the notification to switch to Login.gov is a legitimate SSA advertisement, not a scam.
