2024-04-29 15:17:26
To receive a pension in the United States you must have contributed to Social Security throughout your working life and have met certain rules, such as the number of annual credits. If you are one of the 68 million retirees of the United States Social Security Administration (SSA), you should know that the payment will be made to a group on Friday, May 3. Know who is available and the maximum amounts, which can reach $4,873.
In addition to the payment to the 7.5 million Supplemental Security Income (SSI) beneficiaries due on May 1, the SSA provides 12 payments per year to retirees, survivors and Social Security Disability Insurance (SSDI) beneficiaries.
According to SSA data as of December 31, 2023, nearly nine out of ten people age 65 and older receive a Social Security benefit as of December 31, 2023. This 2024, COLA payments increase to 3.2%, to face inflation. and guarantee the purchasing power of Social Security benefits.
WHO WILL PAY SOCIAL SECURITY ON MAY 3, 2024?
According to the Social Welfare Administration’s schedule, the payment on Friday, May 3, is intended for those who retired before May 1997. Survivors and Social Security Disability Insurance (SSDI) beneficiaries must also make a deposit.
- 3 May: The payment corresponds to those who retired before May 1997.
The US Social Security Administration administers retirement and other benefits like SSI (Photo: AFP)
USAGE: The same payment date for pensioners also corresponds to survivors and beneficiaries of Social Security Disability Insurance (SSDI).
HOW MUCH IS THE PAYMENT ON MAY 3, 2024?
Although the retirement pension provides peace of mind, it does not fully replace income when a person reduces their hours or stops working altogether. The IS Social Security Administration he explains that the value of deposits or checks varies significantly, since they are directly related to retirement age and contributions during your working career. Below, find out the amounts for May 3, 2024, by retirement time:
- The average payment for a retiree is US$1,907.
- Early retirees, aged 62, receive a maximum of US$2,710 per month.
- For those who retired at age 67, their monthly payment can be as high as US$3,822.
- Those who have delayed retirement until age 70 can a a maximum monthly payment of up to US$4,873.
MORE INFORMATION ABOUT SOCIAL SECURITY
WHAT IS THE SSA?
The United States SSA (Social Security Administration) is a federal government agency responsible for administering social insurance programs in the United States.
WHAT IS SOCIAL SECURITY IN THE UNITED STATES?
Social Security in the United States is a social security program administered by the federal government. Its primary purpose is to provide economic benefits to eligible individuals.
WHO PROVIDES SOCIAL SECURITY?
- Quit
- Disability
- Survival
The Social Security Administration has two programs designed for people with disabilities (Photo: Pexels)
WHO DOESN’T GET THE RETIREMENT PAYMENT?
The United States Social Security Administration provides benefits to 66 million retirees, up to US$4,822 per month. Despite reaching full retirement age, however, not everyone is entitled to receive the payment. As? Among other reasons, insufficient number of credits. Likewise, certain government and railroad employees are off the agency’s radar.
Thousands of Americans benefit from monthly Social Security checks (Photo: AFP)
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