The May Social Security payment schedule is about to begin for beneficiaries in the United States. In fact, Supplemental Security Income payments went out today to American households.
But retirement payments are a different matter, and Social Security sends out these checks on four different days of the month. And in the next few hours it will send out the first of the May payments for retirees. Getting it on the same day it is mailed, later this week, is possible if we meet two requirements.
First Social Security retirement payment in May
The first of the payments for this Social Security benefit is on the 3rd day of May. This means that in just over 24 hours the Administration will send this check to beneficiaries who meet one requirement. But two exact requirements must be met in order to have the payment on the same day of mailing.
If we want to get this check, therefore, on the 3rd day of May we will need to have applied for the benefit since before May 1997. It is also mandatory to have Direct Deposit activated. If we do not have this collection method activated, the money will not arrive on the same day, but it will arrive in the following days.
What is the maximum Social Security payment in May 2024?
The maximum retirement benefit payments in May 2024 will depend on the category to which we belong. Generally speaking, there are three different categories. On the one hand, retirement at age 70. On the other hand, retirement at the minimum retirement age and retirement due to disability.
Thus, we find the following maximum Social Security checks:
- Late Retirement Age (age 70): $4,873 per month.
- Full Retirement Age (age 67) and Disability Benefit: $3,822.
- Early Retirement Age (age 62): $2,710.
Getting the maximum benefit payment depends directly on our record. Still, Social Security checks are directly dependent on individual retirees. So your payment doesn’t have to reach such a high figure, but it will be different.
Remember that in addition to this benefit you can also get a maximum payment of $943 per month from Supplemental Security Income. However, the Social Security Administration does not send this extra benefit to all Americans, as certain requirements must be met.