It has been confirmed by Social Security that two payouts will be sent this month to retired workers and people who got Social Security Disability Insurance (SSDI) benefits after May 1997. The SSA says that over 71 million people, or one in five Americans, receive Social Security income right now.
Based on these numbers, four out of five receivers are older people. The other five are young people whose parents died while working or people who get Social Security Disability Insurance. If you are retired or disabled and get benefits, find out when you will get them this month.
Which requirements should retirees and disabled people meet to receive their Social Security payments?
Requirements for Retired Workers
Before you can get Social Security payments in retirement, you have to work and pay into it. You can do this by paying payroll taxes (as required by the Federal Insurance Contribution Act, or FICA) or, if you are self-employed, by filing income tax returns.
Don’t forget that when you pay Social Security taxes on your wages, you get points that you can use to get Social Security. For instance, a person can only earn up to four credits per year. This means that someone with 40 lifetime credits might be able to get these Social Security payments.
Requirements for disabled people
To get Social Security condition Insurance (SSDI) in the United States, a person must show that their condition makes it impossible for them to work or do substantial gainful activity (SGA) and pay payroll taxes. You should look for other ways to make money, though, since disability payments might not be enough to cover all of your costs.
Also, to get disability payments, a person must meet Social Security’s definition of disability, which says they are either in immediate danger of dying or can’t work because of a serious medical condition that has been bothering them for more than 12 months.
It is also important to remember that some recipients may be able to get Social Security payments through the SSI program in addition to SSDI benefits. These two schools have different goals, but many people who meet the strict requirements may be able to get into both.
It is important to know that SSI recipients who want to apply don’t have to send in two different applications. However, their monthly income cannot be more than the amount of their SSI payment.
When will retired workers and disabled people receive their Social Security payments?
These are the dates that retired workers and disabled people will get their last two Social Security checks in 2024: September 18th and September 25th. It’s important to remember that beneficiaries had to meet a number of conditions before they could get these benefits.
For example, they had to claim benefits before the full retirement age, show that they had enough Social Security credits, pay payroll taxes, and show medical records that they were disabled if they applied for Social Security Disability Insurance (SSDI).
According to the SSA’s rules for this year, here are all the payment amounts that can be made to retired workers and injured people:
| Social Security payments | Retirement benefits | Survivors benefits | Disability benefits |
| On average | $1,900 | $1,505 | $1,537 |
| Other payments | Age 62: $2,710
Age 67: $3,822 Age 70: $4,873 |
Individual: $1,773
2 Children: $3,653 |
Blind recipients: $2,590
Maximum payment: $3,822 |
Please be aware that the Social Security Administration (SSA) does more than just pay retirement and disability benefits. They also send monthly payments to heirs. In this case, the amount of the payout will depend on the circumstances of the dead beneficiary.
As was already said, survivors may also be able to get extra rewards based on how many children they have. People who are eligible for Social Security payments should know that the process can be hard to understand. Because of this, it is always best to talk to a financial planner or a Social Security expert about the rules and your situation.
Also See:- SSI benefits will end on September 30: Everything will change after that