Every month, Social Security gives money to millions of people in the United States. The monthly payment has already been sent to many of them, but there are still two more payments in November.
Because of this, some retirees are still waiting for their checks and direct transfers to arrive in their bank accounts.
This update from Social Security is to tell retirees that they will be getting a payment on November 20. Today is the second Wednesday that people in the US will get paid.
Who can receive the November 20 payment from Social Security?
Only retirees who met the SSA’s birth date requirements and had not gotten retirement benefits before May 1997 will be able to get this money. They must also not be receiving SSI benefits. To-do list:
- not getting SSI
- have not been on Social Security since May 1997
- born between 11 and 20 years old, no matter what month
- still qualify and have not broken any of SSA’s rules
Some of you may be thinking if the 2025 COLA increase is part of this payment. In fact, it will not be enough to cover the cost of living, and the average amount will be around $1,924.
Also, if you were born between November 21 and November 31 and meet the other requirements, you will get a new payment on November 27.
Who can receive $4,873 from Social Security on November 20 and 27?
This big payment will only go to old workers who made a lot of money for almost 40 years. In fact, you have to have worked for 35 years to get the contribution and reward base.
Besides that, you will need to meet three more conditions. One of the most important rules is that you have to file by age 70. By getting points later, you will be able to get an extra 24%.
You will, of course, have to work for 35 years in jobs that SSA pays for. That means you paid enough into Social Security so that you could get such a big payment when you turned 70. It is possible to get SSI too if your check is too low.