Social Security

New Social Security Payments Arriving: Are You Eligible?

New Social Security Payments Arriving: Are You Eligible? Millions of retirees in the United States are anticipating a fresh Social Security payment scheduled for Wednesday, November 8, 2023. However, not all Americans will be eligible for this new round of financial support from the Social Security Administration (SSA).

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Key Eligibility Criteria

If you fall between the ages of 62 and older, you might be eagerly awaiting your monthly Social Security benefits. It’s crucial to note that if you began receiving retirement benefits before May 1997, you won’t receive any funds on November 8. The SSA ensures that beneficiaries meet specific requirements before disbursing payments.

Payment Details

Following the last payment on November 3, a new check, potentially worth up to $4,555, is on its way. To receive it, ensure your birth date aligns with the SSA’s specified criteria. Filing for benefits is mandatory, as failure to do so will result in no payment.

Who Gets Paid on November 8?

To receive benefits on November 8, your birthday must fall between the 1st and the 10th of any month. Whether your birthday is in January or December, you may be eligible for this particular payment.

Understanding Your Benefits

The amount you receive from Social Security depends on factors such as previous earnings, work history, filing date, and retirement age. On average, retired workers receive approximately $1,841, but individual payments may vary. The maximum check in 2023 is $4,555.

What If You Don’t Qualify for the November 8 Payment?

First-time recipients need not worry if they miss the November 8 payment. A second round of payments is scheduled for those with birthdays from the 11th to the 20th. These payments, with amounts similar to the first round, will start arriving on November 15, 2023, and will not include the 2024 COLA.

Final Payment and Considerations

The last Social Security payment for November is set for November 22. Beneficiaries with birthdays from the 21st to the 31st will receive their retirement checks on this date. It’s essential to plan your budget accordingly before collecting this money.

For recipients on Supplemental Security Income (SSI), the next payment is slated for December 1, 2023. Those on Social Security Disability Insurance (SSDI) will receive their payments on the same dates as retirees:

November 8: Payday for SSDI beneficiaries with birthdays from 1-10
November 15: Payday for SSDI beneficiaries with birthdays from 11-20
November 22: Payday for SSDI beneficiaries with birthdays from 21-31