Managing finances can be easier when you know exactly when your Social Security payments will arrive. Every month, the Social Security Administration (SSA) sends out payments to eligible individuals like retirees and those on disability.
Understanding the SSA payment schedule can help you plan ahead. In this article, we break down when payments will be made in July and August 2024, so you can stay organized and on top of your finances.
July 2024 Social Security Payments
Who Gets Paid on July 17th?
The Social Security Administration sends out payments in groups based on specific criteria. On July 17th, 2024, retirees in Group 3 will receive their payments. To be part of this group, you must meet the following conditions:
- Your birthday falls between the 21st and 31st of any month.
- You have been receiving benefits since after May 1997.
If you meet these requirements, expect your Social Security payment on July 17th. On average, recipients get around $1,800, though payments can be as high as $4,873 depending on age and retirement status.
More Payments in July
There is one more payment date in July. If you didn’t qualify for the July 17th payment, Group 4 retirees will receive their payments on July 24th. To be in Group 4, you must:
- Have a birthday between the 21st and 31st of any month.
- Have been receiving benefits since after May 1997.
August 2024 Social Security Payments
August Payment Dates and Details
August 2024 has six key payment dates that retirees and those on Supplemental Security Income (SSI) should be aware of:
- August 1st: SSI payment for the month of August.
- August 2nd: Payment for retirees who began receiving benefits before May 1997.
- August 14th: Payment for retirees with birthdays between the 1st and 10th who started receiving benefits after May 1997.
- August 21st: Payment for retirees with birthdays between the 11th and 20th who started receiving benefits after May 1997.
- August 28th: Payment for retirees with birthdays between the 21st and 31st who started receiving benefits after May 1997.
- August 30th: An extra payment of SSI because September 1st is a holiday.
These dates are important to note, as they determine when you’ll receive your Social Security or SSI payments. By keeping track of these dates, you can ensure that you’re prepared for each month’s financial responsibilities.
Knowing the schedule of your Social Security payments can help you better manage your budget and plan your expenses. In July and August 2024, make sure you are aware of your payment dates to avoid any financial surprises.
Keep these key dates in mind, check your eligibility, and stay on top of your finances by marking your calendar for these important Social Security and SSI payments.
When will Group 3 retirees receive their July 2024 payment?
Group 3 retirees will receive their payment on July 17th, 2024, if their birthday is between the 21st and 31st and they began receiving benefits after May 1997.
What is the average Social Security payment?
The average payment for Social Security recipients is around $1,800, though it can go as high as $4,873 depending on individual circumstances.
When is the August 2024 SSI payment?
The SSI payment for August will be made on August 1st, 2024. There is also an extra SSI payment on August 30th due to the September 1st holiday.
How do I know which payment group I’m in?
Your payment group is determined by your birthdate and when you started receiving Social Security benefits. If your birthday is between the 1st and 10th, 11th and 20th, or 21st and 31st, this will affect your payment date.
Why is there an extra SSI payment in August 2024?
There is an extra SSI payment on August 30th because September 1st falls on a holiday, meaning the payment is sent early.
