Every month, millions of Americans get money from the Social Security Administration. Many of them have already received their monthly paycheck, but there are two paydays remaining in November. As a result, some retirees are waiting for their checks and direct transfers to arrive in their bank accounts.
This Social Security notification is intended to alert seniors that a payment is scheduled for November 20. This marks the second round of Wednesday payments in the United States.
Who can receive the November 20 payment from Social Security?
This money will only be for retirees who have not received retirement benefits before May 1997, are not receiving SSI benefits, and meet the birth date condition SSA set. Checklist:
- Not on SSI
- Not on Social Security before May 1997
- Born from 11-20, regardless of the month
- Remain eligible and have not broken SSA’s rules
Some of you may be wondering whether this payment will include the 2025 COLA hike. In fact, it will not result in a cost-of-living adjustment , with the average amount being approximately $1,924. Furthermore, if you were born between 21 and 31 and match the other qualifications, you will receive a fresh reward on November 27.
Who can receive $4,873 from Social Security on November 20 and 27?
This substantial benefit payout will only be made to retired workers who have earned a high income for over four decades. You must have earned the contribution and benefit base for 35 years.
You will also need to meet three further prerequisites. Another important criterion is to file by the age of 70. This manner, you can gain an additional 24% in delayed credits.
Of course, you must work for at least 35 years in SSA-covered jobs. That means you paid enough Social Security taxes to receive such a hefty sum at age 70. However, if your check is too low, you can also apply for SSI.