When the Social Security Administration announces the next retirement payments to United States citizens, we must be attentive to the calendar. It is really important to know at what time of the month we will have our retirement money available.
To that we must add that in the month of April many beneficiaries will get around $80 more than in April of last year. Thus, the COLA has had an effect on each retiree’s monthly checks, causing them to increase by different amounts.
Still, each retiree will get this COLA increase. The Social Security Administration implemented this increase last January. But we must keep in mind that this April’s check is different from the April 2023 check.
Knowing this, we must keep in mind what are the requirements to collect the next of the retirement payments. There are two different requirements and if we do not meet them we will not be able to collect this new Social Security check.
Requirements for the next Social Security with extra money
First of all we must keep in mind that each retiree gets a different raise. This means that some may get $80 more per month, but others may get a little less. It will all depend on the check they previously collected.
The payment has increased by 3.2% in 2024 thanks to the COLA. So to your Social Security check from the previous year we have to add that amount to get the benefit we get in the month of April and the remaining months of this 2024.
And the next of the payments will be on April 10th. But this check is only for a specific group. To get this benefit it is mandatory to meet two requirements:
- Have a birthday between the 1st and the 10th of any month.
- To have applied for Social Security retirement after May 1997.
Only in this way will the Administration send us the new check for the next April 10th. Also, to get your Social Security payment immediately, we must also activate Direct Deposit, which is the fastest collection method of all.