In April 2024, beneficiaries of Social Security and Supplemental Security Income (SSI) can expect their payments to arrive on specific dates based on their birth date or when they started receiving benefits. Understanding these payment schedules is crucial for recipients to plan their finances effectively.
At this point, the Supplemental Security Income (SSI) payments have already been sent out, on April 1st, and on April 3rd, those who receive their payments include individuals who received Social Security benefits before May 1997 or if they receive both Social Security and SSI benefits. Social Security is paid on the 3rd day, and SSI on the 1st day.
Three More Social Security Payments to Be Delivered This Month
If your birthdate falls between the 1st and 10th of the month, your Social Security payment will be deposited on the second Wednesday of the month. For birthdates between the 11th and 20th, payments will be deposited on the third Wednesday.
If your birthdate is from the 21st to the 31st, your Social Security payment will be deposited on the fourth Wednesday of the month. This schedule helps ensure that SSI recipients receive their payments in a timely manner based on their birthdates each month.
As such, payments will be made on the following dates:
- April 10th: People with birthdates between 1st to 10th of every month
- April 17th: People with birthdates between 11th and 20th of every month
- April 23rd: People with birthdates between 21st and 31st of every month.
The Maximum Social Security Benefits You Could Receive
The maximum Social Security benefit depends on the retirement age of each person. This means that the maximum amount you can receive in retirement benefits varies depending on the age at which you decide to retire. Here we explain how this system works with examples for the year 2024:
Full Retirement Age (Full Retirement Age):
- If you retire at full retirement age in 2024, your maximum benefit would be $3,822.
- The full retirement age varies depending on the year you were born, and by 2024, it may be around 66 or 67, depending on your date of birth.
Retirement at the age of 62:
- If you decide to retire at age 62 in 2024, your maximum benefit would be $2,710.
- Keep in mind that by retiring at this age, your monthly benefits may be lower because you are choosing to retire before full retirement age.
Retirement at the age of 70:
- If you wait until age 70 to retire in 2024, your maximum benefit would be $4,873.
- By postponing your retirement until age 70, you can get a higher maximum benefit due to the delay in applying for your benefits.
Whenever you’re ready to apply for your retirement benefits, you can use the official Social Security’s online retirement application, the quickest, easiest, and most convenient way to apply.
The Social Security Administration is committed to protecting the security and privacy of the data of its beneficiaries and applicants. There are strict measures and established protocols to guarantee the security of the personal information that is handled in the Social Security system. So, rest assured as the SSA will take care of your sensitive data.