Assuming you are 66 years old and receiving Social Security retirement benefits, you are certainly curious about the date on which your subsequent payment is due, which is in August of 2024. Don’t be surprised any more!
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When Can I Expect My Payment?
The Social Security Administration has got you covered. They’ll be sending out direct deposits and checks on time, so you don’t have to worry. However, you might have to wait a little longer than you did in July. That’s because the second round of payments started on July 10, but in August, it’ll begin on August 14 – four days later than last month.
Why the Delay?
Think of it like waiting for your favorite TV show to come back from commercial break. You know it’s coming, but you have to wait a little longer. The delay is due to the SSA’s payment schedule, which is based on your birthdate. This means that payments are staggered throughout the month to ensure that everyone gets their payment on time.
Who Will Get Paid in August?
If you’re 66 years old, younger, or older, and receiving Social Security benefits, you’ll get paid in August. However, there are a few conditions:
- You can’t have received benefits before May 1997.
- You can’t be receiving Supplemental Security Income benefit payments.
When Will I Get My Payment?
Your birthdate determines the pay schedule. Should your birthday fall between the 1st and the 10th, August 14 will be your pay date. You will get it on August 21 if your birthday falls between the 11th and 20th. And you will get it on August 28 should your birthday fall between the 21st and the 31st.
How Much Can I Expect?
The largest Social Security payment for those aged 66 and 8 months is worth $3,822. That’s the largest retirement benefit payment at Full Retirement Age. However, if you filed early at 62, your payment will be smaller – up to $2,710. So, delaying your retirement until 66 years and 8 months old could mean an extra $1,112 per month!
What If I Don’t Get My Payment?
Calm yourself not from panicking. Should you not receive your payment, wait three mailing days before notifying the SSA of missing it. You can visit your local SSA office or phone them at 1-800-772-1213.
What Else Should I Know?
Here are a few more things to keep in mind:
- Make sure your address is up to date with the SSA to ensure you receive your payment.
- If you’re receiving SSI benefits, your payment schedule may be different.
- You can check your payment status online through the SSA’s website.
I hope this helps you plan your finances for August! Happy retirement!
FAQs
When will Social Security payments be made in August?
August 14, 21, and 28.
Why is there a delay in payments?
Due to the SSA’s payment schedule.
What if I filed early at 62?
Your payment will be smaller – up to $2,710.
Can I get extra money if I delay retirement?
Yes, up to $1,112 extra per month.
What if I don’t get my payment?
Wait 3 mailing days before reporting it missing.
