If you’re a retiree born between the 1st and 10th of the month, exciting news! The Social Security Administration has announced a new payment deposit this month, scheduled for tomorrow. This payment is part of the regular Social Security payment schedule, where three payments will be sent out on the second, third, and fourth Wednesdays of the month. If you began receiving benefits after May 1997, keep an eye out for that deposit!
On average, beneficiaries receive $1,900 monthly, though the exact amount varies based on factors such as your age when you claimed benefits, work history, and the Social Security taxes paid throughout your career.
Payment Dates
For September, Social Security has outlined the payment dates based on birth dates. Retirees who started collecting after 1997 will receive payments on the second, third, or fourth Wednesday, depending on their birth date. If you started receiving benefits before May 1997, your payment will arrive on the first Wednesday of the month.
Payment Schedule
| Retirement Benefits | Payment Date | Who Receives It? |
|---|---|---|
| Before May 1997 | September 3rd (Tuesday) | Retirees collecting before May 1997 |
| After May 1997 | September 11th | Birthdays from 1st to 10th |
| After May 1997 | September 18th | Birthdays from 11th to 20th |
| After May 1997 | September 25th | Birthdays from 21st to 31st |
This simple schedule ensures that retirees can predict their payments with ease, based on their birth date.
Benefits
Social Security benefits aren’t just for retirees; survivors and those with disabilities also receive monthly payments. These amounts vary based on individual circumstances and the specific program they’re enrolled in.
Benefit Breakdown
| Type of Benefit | Average Payment | Other Payment Amounts |
|---|---|---|
| Retirement | $1,900 | Age 62: $2,710; Age 67: $3,822; Age 70: $4,873 |
| Survivors | $1,505 | Individual: $1,773; 2 children: $3,653 |
| Disability | $1,537 | Blind: $2,590; Max payment: $3,822 |
Those aiming for the highest possible retirement benefits should consider claiming at age 70 to maximize the amount received. However, if you’re unsure of your options, it’s wise to consult a financial advisor or an SSA specialist for personalized advice.
Qualifying
Most retirees are eligible for Social Security benefits, provided they’ve contributed to the system for at least 10 years. This 10-year threshold is the minimum required to accumulate the 40 credits needed for eligibility. Social Security taxes, which are deducted from employees’ paychecks, help to fund these benefits.
In addition to retirees, certain family members like spouses, children, and sometimes even parents of deceased workers, may be entitled to receive Social Security benefits. This creates a safety net not only for retirees but also for families in need.
Deceased Workers
It’s essential to remember that Social Security provides more than just retirement income. In fact, more than 2.7 million children receive Social Security benefits, and over half of them are eligible due to the death of a working parent. The financial stability offered by Social Security can be crucial for children facing the loss of a parent, and in some cases, the surviving parent may also be eligible for support.
According to statistics, 98 out of every 100 children may be eligible for Social Security benefits when a working parent dies. Monthly payments for surviving children average over $1,000, which can continue until the child turns 18, or 19 if they’re still in high school and unmarried. There are also scenarios where stepchildren, grandchildren, and even adopted children might qualify for benefits.
If you’re unsure whether your children qualify, you can always contact the SSA to investigate your options.
Social Security isn’t just a retirement fund—it’s a lifeline for millions of families, survivors, and disabled workers. With average payments around $1,900, it’s a reliable source of income that can help retirees and their families lead a stable financial life.
If you’re looking to maximize your benefits, be sure to check your account on the Social Security Administration’s official website, or speak with a financial expert. Your Social Security payment might be more than just a paycheck; it could be a cornerstone of your retirement plan.
FAQs
How much is the average Social Security payment?
The average monthly payment is around $1,900, but it varies.
Can survivors receive Social Security benefits?
Yes, children and some family members can receive survivor benefits.
How many work credits do you need for eligibility?
You need at least 40 credits, or 10 years of work.
When are the September Social Security payments?
Payments are made on September 3rd, 11th, 18th, and 25th.
Can you increase Social Security payments?
Yes, delaying retirement until age 70 can increase your benefit.
