If you’re 62 years old and receiving Social Security benefits, here’s everything you need to know about your upcoming payments.
Next Payment Date: November 27, 2024
The next Social Security payment for eligible 62-year-olds will be issued on Wednesday, November 27, 2024. This applies to those who meet the Social Security Administration (SSA) schedule and requirements. High earners may receive a maximum payment of $2,710, while others may receive smaller amounts based on their earnings history.
If you received a payment before November 27, your next payment will come in December on one of the following dates: December 3, December 11, or December 18.
For those whose November payment falls on November 27, the December payment will be issued early due to the Federal Holiday on December 25. Instead, the December payment will arrive on Tuesday, December 24, ensuring it’s in your account before Christmas.
Eligibility for the November 27 Payment
To qualify for the Social Security payment scheduled for November 27, you must:
- Be born between the 21st and 31st of the month.
- Have started receiving Social Security benefits after May 1997.
If you meet these criteria, your payment is typically issued on the fourth Wednesday of the month. However, holiday adjustments may change the schedule, as seen for December payments.
Who Can Receive $2,710 on November 27?
To receive the maximum payment of $2,710 at age 62, you must meet the following conditions:
- You filed for Social Security benefits at age 62.
- Your application has been approved.
- You worked for at least 35 years.
- You consistently earned the maximum taxable earnings limit (the contribution and benefit base) for 35 years.
- Your jobs were covered by Social Security.
Options for Increasing Your Payment
- Delay Retirement Benefits: If you delay filing until your Full Retirement Age (FRA), your monthly payment could increase significantly. In 2024, the maximum payment at FRA is $3,822.
- Wait Until Age 70: For those who delay filing until age 70, the payment could reach up to $4,873 in 2024, reflecting a 24% increase for delayed retirement credits.
Key Takeaways
- November 27 is the payment date for eligible retirees born between the 21st and 31st of the month.
- December payments for these individuals will arrive early, on December 24, due to the holiday.
- Those meeting specific earning and work requirements can receive up to $2,710 at age 62, with opportunities for higher payments by delaying retirement benefits.
If you’re unsure about your eligibility or payment amount, check your mySocialSecurity account online or contact the SSA for personalized information.
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