$4,873 direct deposit for retirees: 2 upcoming payments for eligible Social Security recipients in the U.S.

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According to Vibes.okdiario, Retirees in the United States can look forward to one last payment in October. The Social Security Administration (SSA) is set to send direct deposits to retirees on October 23. To qualify for this payment, your birthday must fall between the 21st and the 31st of the month.

Understanding Payment Amounts

The amount you receive will vary based on your work history and the taxes you’ve paid into the SSA. Only high earners who meet specific criteria are eligible for the maximum payment amounts.

Upcoming Social Security Payments for November

For those who began receiving retirement benefits after April 30, 1997, your direct deposit will not occur on November 1. Instead, you will receive your payments on November 13, 20, or 27, depending on your birth date.

However, if you are eligible for Supplemental Security Income (SSI) on November 1 or started receiving benefits before May 1997, you will receive your direct payment on that date.

Also read: Who will receive an additional Social Security check in November?

Due to scheduling conflicts, the payment originally set for November 3 (a Sunday) has been moved to the previous business day. Importantly, if you are receiving both SSI and retirement benefits, you will have the same payday for both, allowing you to receive two checks on November 1, 2024.

Payment Amounts for November 1

On November 1, Social Security payments can reach up to $4,873 for retirees who have worked for 35 years in covered jobs, filed at 70, and earned the taxable maximum throughout their careers.

If you don’t meet all these criteria, your payment will be lower. Those who file at Full Retirement Age can receive up to $3,822, while individuals filing at 62 may get up to $2,710.

On average, retirees can expect to receive about $1,920. However, those with just ten years of work experience, who file at 62, or have a history of low wages may see significantly reduced payments.

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