The Social Security payments in the United States for September are set to include a little extra money compared to the payments from previous years. If you’ve received benefits in the past, you’ll notice a higher amount this time around.
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What Influences the New Social Security Payments?
Each new payment day has its own set of requirements. Your eligibility determines whether you receive a payment and how much it will be. Thanks to the Cost of Living Adjustment (COLA) for 2024, those who qualify will see an increase in their Social Security checks. This adjustment became effective in January 2024, so beneficiaries have been enjoying increased payments throughout the year.
Social Security Checks with the COLA 2024
As mentioned, the increase in benefits is directly tied to the COLA 2024. This adjustment means that Social Security checks have a new maximum payment, allowing U.S. citizens to enjoy a little extra money each year.
In 2024, payments have increased by 3.2%, which means all beneficiaries have received this boost. Since this is a percentage increase, the exact amount will vary from person to person. For every $100 collected last year, beneficiaries will receive an additional $3.20 this year.
Maximum Social Security Checks in September 2024
Here are the maximum Social Security checks for each category in September 2024:
- Disability: $3,822
- Retirement at Age 70: $4,873
- Early Retirement Age: $2,710
- Full Retirement Age: $3,822
To determine your exact payment in September 2024, you can refer to the checks from earlier months this year. Alternatively, by adding 3.2% to your September 2023 check, you can estimate your Social Security payment for September 2024.
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Social Security Payment Schedule for September
Knowing when you’ll receive your payment is also crucial. Each payment day has specific requirements, and it’s essential to be aware of these to ensure you receive your benefits on time. Here is the Social Security payment schedule for September:
- September 3rd: Payment for retirees who started receiving benefits before May 1997.
- September 11th: Payment for retirees who started receiving benefits after May 1997 and have a birthday between the 1st and 10th of the month.
- September 18th: Payment for retirees who started receiving benefits after May 1997 and have a birthday between the 11th and 20th of the month.
- September 25th: Payment for retirees who started receiving benefits after May 1997 and have a birthday between the 21st and 31st of the month.
Additionally, the Supplemental Security Income (SSI) payment will be sent on August 30th due to an irregularity in the calendar.
September’s Social Security payments are bringing a welcome increase for beneficiaries, thanks to the COLA 2024 adjustment. By staying informed about your eligibility, the payment schedule, and the COLA increase, you can ensure that you receive the correct amount on time.