Social Security Payments Worth Over $4,800 To Go Out This Week; Here’s When You’ll Get Yours

By Danielle Ong

Jul 21, 2024 10:31 PM EDT

The final round of July's Social Security payments are set to go out this week to retirees eligible to receive the funding.

The Social Security Administration (SSA) is expected to release the final batch of payments to eligible retired workers who were born on or after the 21st of a month on July 24, the fourth Wednesday of the month, according to the SSA's payment schedule.

Social Security Payment Worth Up to $4,873: Who's Eligible to Receive on July 10? — Blank Social Security checks are run through a printer at the U.S. Treasury printing facility February 11, 2005 in Philadelphia, Pennsylvania. As U.S. President George W. Bush travels the country to stump for his plan to change the Social Security system.
(Photo : William Thomas Cain/Getty Images)

Typically, the SSA delivers millions of monthly benefits to eligible recipients every month. On the second Wednesday of the month, the SSA sends out payments to recipients who were born between the 1st and the 10th. Payments for individuals who were born between the 11th and the 20th would be sent out on the third Wednesday of the month.

It is important to note that while the SSA delivers payments on time, some beneficiaries may experience delays due to their bank's processing time.

How Much Can Eligible Retirees Receive?

The amount varies depending on the age at which a recipient chooses to retire. Individuals who retire at 62, the youngest age possible, may receive up to $2,710 in monthly payments. Individuals who delay their retirement to age 70 may receive up to $4,873 a month, the agency's FAQs noted.

The SSA provides an online benefits calculator that allows beneficiaries to see a personalized estimate of how much they can expect each month. Recipients may also access their "My Social Security Account" for more information about their monthly payments.

Changes to the My Social Security Account

Retirees who created an online Social Security account before Sept. 18, 2021, would need to update their accounts by switching to a Login.gov or ID.me account to access their information and other services, the agency said.

As of June, the SSA said there were roughly 46 million individuals who would need to shift to a Login.gov account. It is presently unclear when the SSA would shut legacy accounts.

The online "My Social Security" account allows users to apply for and manage their benefits. It also gives users access to a portal where they can request replacement Social Security cards.