“Get Ready: Social Security Direct Payments Up to $4,873 Arrive in Less Than 2 Days!”
Millions of retirees are anxiously awaiting their monthly payments from the Social Security Administration (SSA), but those payments won’t reflect the 2025 Cost-of-Living Adjustment (COLA). While eligible retirees can expect direct payments of up to $4,873, it’s important to note that the October payments will not include the anticipated COLA boost.
The 2025 COLA increase will take effect in January 2025, with the first payments reflecting this adjustment scheduled for January 3, 2025. In the meantime, let’s explore the upcoming Social Security payment for October that will not include the COLA increase.
Upcoming Payments for October
For retirees who qualified for benefits but did not receive their payment on the third, there are three upcoming paydays in October. However, each individual can only receive one of these payments. Here’s the eligibility criteria for the direct payment scheduled for October 9:
- You must have filed for Social Security retirement benefits.
- You should not be receiving Supplemental Security Income (SSI) benefits.
- You must not have received retirement benefits before May 1997.
- This payment applies to retirees whose birthdays fall between the 1st and 10th of any month.
If you are not eligible for the October 9 payment, don’t worry! The SSA’s payment schedule indicates another direct payment will be issued one week later, followed by a third payment two weeks after that.
Who Will Receive the Maximum Payment of $4,873?
To qualify for the maximum payment of $4,873 from Social Security, you need to meet specific criteria:
- You must have worked for 35 years in jobs covered by the SSA, ensuring you paid sufficient payroll taxes during your working years.
- You also need to file for benefits at the age of 70.
- Additionally, you must meet the contribution and benefit base requirement, which for 2024 is set at a taxable maximum of $168,600.
It’s important to note that while some retirees may qualify for this maximum payment, the average Social Security retirement benefit is approximately $1,920. Those who filed at age 62 or worked fewer than 35 years may receive smaller checks, as payments are tailored based on individual work and filing history.
