United States citizens eligible for the new Social Security payment will be lucky enough to get it in just a few days. The new payment will appear in the checking account of thousands of Americans on June 12th. This means that there is less than a week left to be able to get this new check.
Regardless of the type of benefit we have, the next Social Security check will be ours if we meet the conditions. To be eligible to get this check we must meet only two requirements. Also, the collection method we have activated will be key in determining whether or not we collect the payment on the same day.
Who is eligible for the next Social Security payment?
The next Social Security payments will arrive on the upcoming June 12th, as we have already discussed. Only Americans eligible for this check will be able to get it. To be eligible, you must belong to group 2 of retirees. This group 2 is made up of Americans with specific characteristics.
On the one hand, it is necessary to have applied for the retirement benefit in May 1997 or later. On the other hand, you must have reached your birthday between the 1st and 10th of any month of the year. Neither the month of birth nor the year of birth matter. Only the year of retirement and the exact day of the birthday matter.
How much money will I get in my new Social Security?
If you are part of retiree group number 2 and get paid on June 12th, the check you will receive will be the same as in previous months. In other words, the 2024 payment will be the same every month. Therefore, you will be able to get your benefit of $1,800 or the maximum of $4,873. It all depends on your work history.
The monthly check does not increase on a regular basis. They only increase the checks once a year via COLA. So yes, your June 2024 payment is higher than your June 2023 payment, but that does not imply that the payment is higher than in previous months.
You won’t see a further increase in this Social Security benefit until next year 2025. And the increase will depend on the COLA announced by the government. This means that retirement checks may not increase. It will all depend on the increase in the CPI-W in the third quarter months of the year.