63-year-old retirees in the United States are in for a treat. In only a few days, they might get a new Social Security check in their bank account. Whether or not they receive it will be determined by a single condition.
The remainder of the retirees who do not fulfill this condition will not receive their Social Security checks this week, but will in the coming weeks. This allows retirees to keep track of the days they get their salaries.
This greatly simplifies home budget management. When a retiree understands when their payments will be made, they will not require any additional information to handle their funds. This is a significant advantage because no senior is denied the opportunity to get his or her payment on time.
The next payment that the Social Security Administration will send to age and disability pensioners is on January 3rd. On this day, 63-year-old seniors who have accepted retirement will be allowed to collect their check if they meet only one criterion.
This criterion relates to the retirement year. If the retirement year began before May 1997, the payout date will be January 3rd. If the retiree’s retirement year begins after that date, the payout day falls on a different day.
Regardless of birthday, each retiree will receive the cheque in January, but it may arrive later or sooner depending on the day of his or her birthday.
When will I collect Social Security in January?
January payments are due on the second, third, and fourth Wednesdays of each month. Checks will increase by 3.8% in 2024 due to the COLA.
Depending on the date of birth, retirees will collect January Social Security in:
- January 3. Retirees before May 1997.
- January 8: Retires after May 1997 with a birthday 1-10 of any month.
- January 15: Retires after May 1997 with a birthday 11-20 of any month.
- January 22: Retires after May 1997 with a birthday 21-31 of any month.
How to collect Social Security
The payment option you use will determine whether you receive your Social Security check on the same day. On the one hand, we have direct deposit. However, it is also possible to collect Social Security through a bank account. The first approach provides quick results, whilst the second can take up to three days to reach the retiree.
As a result, the first group of seniors is the next to receive their Social Security check. Thus, if you received your retirement check before May 1997, your Social Security retirement benefit check will arrive within a few days provided you have Direct Deposit enabled.
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