The Social Security benefit for the last group of beneficiaries in May will reach beneficiaries in the United States in just a few days. However, be very careful with this, since only one group of retirees has access to this benefit.
Although it is true that the Social Security Administration sends checks to all beneficiaries every month, whether we get it sooner or later depends directly on the group of retirees to which we belong. In total there are four different groups of retirees and it is personal information that determines whether we get the payment on one day or another.
Who gets the new Social Security payment with the May increase?
The May increase for the Social Security payment will arrive soon on the 22nd of the month. This payment will be only for group 4 retirees. That is to say, we must meet some mandatory requirements if we want to get a check on this day.
To begin with, we must have been born between the 21st and 31st of any month. If our birthday is between those days, the payment will be ours in the case of meeting a second requirement. This other requirement is to have the benefit since after May 1997. There are no other mandatory requirements to collect the payment on May 22nd, 2024.
What is the Social Security increase in May 2024?
The increase in this benefit is due to the COLA, but it is true that the increase in benefits was made in January of this year. Therefore, the check we get in May is the same amount as in the previous months of 2024.
Thus, the May 2024 check is 3.2% higher in amount than in 2023. This payment can currently be as high as $4,873 for age-based retirees and $3,822 for Social Security Disability beneficiaries.
Best of all, the amount of our check does not determine whether we collect payment earlier or later. In this regard, the May 22nd check will go to beneficiaries who meet the above requirements regardless of the amount they get.
Likewise, the type of benefit does not matter in order to have this day’s check. Only the two pieces of information mentioned above matter, so whether the Social Security payment is for disability or for another reason will not really matter.