The most anticipated payout of the year is approaching: on November 13, millions of Americans will receive Social Security benefits

The United States Social Security Administration (SSA) confirmed that a payment will be made on November 13 that will reach up to 4 873 US dollars for some retirees who have increased their benefits. This amount is the result of several factors, such as the timing of the contributions, the decision to delay retirement and the income accumulated during working life. The date, which corresponds to the November payment schedule for some beneficiaries, marks an expected day for those who rely on this income to cover essential expenses and finance plan their monthly.

he is Social Security is one of the pillars of financial assistance for retirees in the United States, and the SSA distributes these payments based on a schedule that organizes recipients into groups. Only the retired make up the “group 2“and that meet certain requirements they will be able to receive payment on November 13, and, in certain cases, they could reach the maximum level. This amount, although unusual, represents the effort of those who met a series of requirements established by the SSA, such as working for at least 35 years and having a history of income in high.

In addition, the SSA schedule also sets up additional payments in November for beneficiaries of the Supplemental Security Income (SSI), which provides financial assistance to people with low incomes. This population will receive two deposits due to a change in the distribution calendar, as the first day of December falls on a Sunday, which will advance the payment. Below are details on who is eligible for a payment of up to $4,873, how the payment schedule is set up, and what changes SSI recipients may be subject to. expected this month.

To reach the maximum 4 873 US dollars In their monthly payment, retirees must meet three conditions established by the SSA. The first is to delay applying for benefits until 70 yearssince payments started at that age instead of at 62 years old, The lower age to access Social Security allows you to receive a larger amount in monthly deposits. The SSA confirms that this wait until age 70 greatly increases the benefit for retirees.

The second requirement is to be at least employed 35 yearssince the enumeration of the pension Social Security will include the highest salary earned during that period. If a retiree has worked less than those 35 years, the SSA includes unemployment years in the calculation, which lowers the average wage and reduces the monthly benefit amount.

In addition, the SSA considers the salary history of the beneficiary to establish the final amount. Those who have received a high income during the 35 years of contributions, especially in recent years, are entitled to a higher pension. This average of the highest salaries is guaranteed to reach a payment of up to USD 4,873, although the SSA warns that most retirees will receive lower amounts because they do not meet the aforementioned requirements.

he is payment schedule of the Social Security organizes beneficiaries into three groups based on the year they started receiving benefits and their dates of birth. Those at group 1who started receiving payments by May 1997, their check on November 1. Those who retire group 2who started their benefits after May 1997 and were born between the 1st and 10th of any month will be paid on November 13. Finally, those at group 3born between the 11th and 20th of each month, their payment will be seen on the third Wednesday of November.

The SSA spreads payments this way to allow beneficiaries to plan their monthly finances. The entity also recommends that beneficiaries consult the official payment schedule available on their website to avoid confusion regarding dates and organize their budget rightly so, especially if they rely entirely on Social Security income to cover their basic needs.

In addition to a regular payment, the beneficiaries of the Supplemental Security Income (SSI), targeting people of low incomehaving two examinations in November 2024 due to a timetable change. This change is due to the fact that December 1st falls on a Sunday, which moves the payment to the last business day of November and generates two deposits for beneficiaries this month. SSI is designed to help seniors and their dependents with disabilities cover their expenses.

according to The United States todaySSI beneficiaries usually receive their payments by direct investment into their bank accounts, although they may also choose to receive paper checks or use a debit card Direct Express of the Federal Reserve Bankwhich allows you to make purchases in stores or withdraw money from ATMs. The SSA advises SSI and Social Security recipients to keep their banking information up-to-date to avoid problems getting money.

There are payments of Social Security and of SSI They can be obtained in different ways: direct investment, paper check or a debit card Direct Express of the Federal Reserve Bank. While direct deposit is the safest and fastest option, paper checks and debit cards offer alternatives for those without a bank account. For those who prefer to use the Direct Express card, it allows access to funds through purchases in establishments or withdrawals at ATMs, according to the SSA on its website.

The SSA also provides online information and guidance to help beneficiaries understand how to maximize their benefits, including the age and income factors that ‘ required to get the highest level. However, most retirees will receive less than that 4 873 US dollarsalthough it is sufficient to cover basic needs if they have partially met the requirements.