In the United States, Social Security is in charge of giving four rounds of payments to qualifying retired workers. It will be hard for millions of older Americans to meet their basic needs, like housing, food, medical care, and fun, and keep up with rising prices if they don’t get these Social Security checks. The Social Security Administration says that about a million retired people will get a new Social Security payment this coming Wednesday, August 21st. It’s important to remember that retired workers must meet the following requirements in order to get this payment:
- Have claimed their first Social Security payment after May 1997
- Be born between the 11th and the 20th
The Social Security Administration says that by September 2023, almost 67 million people, 52 million of whom will be retired workers, will be getting monthly Social Security payments. The Social Security Administration also says that by 2024, more than 180 million people will have jobs that pay into Social Security and be paying Social Security taxes.
How much will retired Americans receive on average Social Security check payments this week?
On average, retirees will get up to $1,900 a month in benefits. However, there are other payment amounts available based on the person’s full retirement age, work history, and the average amount of Social Security taxes they paid during their career. For example, they could get a $2,710 monthly check in retirement if they claimed benefits at age 62 or before reaching full retirement age. Those who waited until they were 67 years old or older could get up to $3,822 per month. While these two payments are taken into account, seniors can also get a maximum Social Security check of $4,873 if they paid into the system based on their highest taxable income over the last 35 years.
The people who get monthly payments from the retirement program should also know that they already include the 3.2% increase from the cost of living adjustment (COLA), which is usually released in the second or third week of October. Up until now, predictions have shown that the COLA for 2025 might be smaller (2.65%) than the percentage it is now for 2024. Because of this, people who get Social Security benefits need to start looking for other ways to make money, since people who only get their monthly check might not have enough to cover the rising costs of everything.
Social Security check dates are confirmed for the next two weeks
Based on when Social Security checks are normally sent, there will be two checks in the mail this month. People who retired after May 1997 and started getting benefits will get them every month on the following dates:
- On August 21st, the Social Security check will be available for those born between the 11th and 20th
- On August 28th, the Social Security check will be available for those born between the 21st and 31st
Remember that if your Social Security check doesn’t come on the due date, you should wait at least three mailing days before calling SSA‘s customer service. This is because your bank may be taking extra time to process the payment. You can contact customer service or log in to your “My Social Security Account” to get more information about your monthly benefits and payment amount. You can also download your financial records and ask for more work to be done.
Survivors and disabled people will also receive a new Social Security check on Wednesday
On Wednesday, people who are also entitled to benefits, like widows and disabled people, will also get their monthly payments. However, the SSA’s rules say that they will get different amounts of money, which are explained below:
| Social Security check amounts | Survivors benefits | Disability benefits |
| On average | $1,505 | $1,537 |
| Other payments | Individual: $1,773
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2 Children: $3,653 |
Blind recipients: $2,590
Maximum payment: $3,822 |