Check your account today – If you were born within this date range, you’ve received a new Social Security payment

The Social Security Administration (SSA) has announced new Social Security payments for beneficiaries who qualify for retirement, survivor, and disability insurance (RSDI). If you fall into one of these categories, it’s important to stay informed about the qualifications and payment schedules to ensure you receive your benefits on time.

Benefits

To qualify for this latest payment, beneficiaries must meet several criteria. First, you must have claimed benefits after May 1997. Additionally, your birthdate should fall between the 11th and 20th of the month. It’s crucial to meet specific requirements, including reaching full retirement age, having a solid work history, contributing to Social Security while employed, and providing necessary medical documentation, especially for Social Security Disability Insurance (SSDI) applicants.

If you’re eligible, you should check your bank account today for the new Social Security payment.

Retirement

Social Security offers flexible retirement benefits. Early retirement benefits are available at age 62 if you’ve paid into the Social Security system for at least ten years. However, you can opt to receive payments at the full retirement age of 67, or delay them until 70. The longer you delay, the higher your monthly payment will be, with the maximum benefit reached at age 70.

For example:

• If you claimed benefits before full retirement age, you could receive up to $2,710.
• At full retirement age, you might receive up to $3,822.
• If you delay benefits until age 70, you can receive the maximum amount of $4,873.

Spousal

Spouses may also qualify for monthly benefits based on either their own or their spouse’s earnings record. A divorced spouse could be eligible for benefits based on their ex-spouse’s record if they were married for at least ten years and have not remarried. Additionally, disabled or student children of retired workers can continue receiving benefits until age 18 (or 16 if the child is not the worker’s own).

Disability

For those applying for disability benefits, proving that you’re disabled or blind and unable to work for at least one year is essential. The SSA requires that applicants demonstrate they cannot engage in substantial gainful activity (SGA). To qualify, you must have worked and paid Social Security taxes for at least five of the past ten years, with some exceptions for younger individuals under 24.

It’s worth noting that disability benefits may not cover all your expenses, so investigating alternative income sources might be necessary. The SSA’s definition of disability includes severe medical conditions or an imminent risk of death.

Payment Amounts

Here’s a breakdown of the potential Social Security payments available based on the SSA guidelines:

These figures highlight the varying amounts you might receive depending on your circumstances.

Payment Schedule

The SSA has confirmed two more payments this month. The first is scheduled for August 21st and is for those who claimed their Social Security benefits after May 1997 and were born between the 21st and 31st. The second payment is due on August 30th for SSI recipients who meet the necessary income and resource requirements.

If you’re expecting a payment, it’s a good idea to check your “My Social Security Account” or the official schedule to confirm your payment date.

This latest announcement from the SSA underscores the importance of staying informed and ensuring you meet the necessary qualifications to receive your Social Security payments. Whether you’re retired, a survivor, or living with a disability, these benefits can provide essential financial support.

FAQs