More than 72.5 million Americans will start getting checks and direct payments from the Social Security Administration (SSA). It will depend on what kind of reward you get each month.
Keep in mind that you can get SSI, retirement, unemployment, spousal, or the death benefit. SSI is the only one that is paid for by the federal government and does not get money from the SSA Trust Fund. People who are poor and don’t have enough resources can get this advantage.
Social Security payments in November after Halloween
After the Halloween party is over, there will be bills to pay. In the first place, people who are still qualifying for SSI will get their direct payment on November 1. Social security retirees will also get their check or direct payment on the same day.
The Social Security Administration can’t send money on November 3, which is a Sunday, so they send it the work day before. So, you’ll get paid on November 1 if:
- You are collecting Supplemental Security Income payments (SSI) and Social Security at the same time, or
- You began receiving direct deposits or checks from the SSA before May 1997
Only hundreds of American retirees will receive $4,873 from Social Security
Just so you know, there are 4 things that must happen before you can get that much money from the Agency. One of them is to file when you turn 70 years old. When you turn 70 and apply for retirement benefits, you will be able to use delayed points.
Your payments will go up by up to 24% because of these late refunds. Next, you need to have worked for at least 35 years. Sometimes it has to be longer because you haven’t made the taxable maximum in 35 years, which is another important condition.
Last but not least, don’t forget that SSA must cover the jobs you have. Payroll tax people who don’t pay enough into Social Security can’t get $4,873 from the SSA.
Also See:- How to enroll in Medicare under the changes announced for 2025