The Social Security Administration (SSA) has confirmed that next week comes loaded with Social Security payments, as SSI recipients will receive a check for $1,415 on Monday, the first of April, and eligible retired workers will receive up to a $4,873 check on Wednesday, the third of April.
Social Security provides Supplemental Security Income (SSI) and Old Age, Survivors, and Disability Insurance (OASDI) to qualified individuals with disabilities, retirees over the age of 65, and survivors of deceased claimants. These financial aid measures are expected to benefit 68 million people across the country by 2024. The OASDI program, which is funded by taxes on American workers and offers a sizable income to those who qualify, is administered by the Social Security Agency (SSA). However, not every claimant gets paid on the same day or with the same amount of money.
SSI and Social Security payments
The federal government’s Supplemental Security Income (SSI) program provides financial assistance to elderly, blind, or disabled people with inadequate resources or income. Citizens must meet strict income and resource requirements to be eligible. Furthermore, by participating in the SSDI program and meeting its severe conditions, certain SSI claimants may be eligible for additional benefits.
SSI maximum Social Security payments and filing categories
The program’s eligibility is decided by the filing category, which has three options: individual, joint, or essential person. The term “essential person” refers only to SSI beneficiaries. As a result, the maximum amount that beneficiaries will get in March is as follows:
- Single individuals: get up to $943 per month.
- Couples: can receive up to $1,415 per month combined.
- People with an “essential person” living with them: may receive an additional $472 per month, as an “essential person” requires special care.
Don’t forget that not every recipient will receive the same Social Security check. Social Security payments are calculated with the beneficiary’s age, earnings history, retirement age, and salary history. In addition, individuals who qualify must fulfill specific criteria, like having little income, being blind, or suffering from a serious physical or mental disease.
Retirement program and Social Security payments
The Social Security Retirement Benefit is a monthly payment that provides financial assistance to people who have either reduced their working hours or stopped working altogether. However, it’s important to note that it may not cover all of your expenses. Therefore, as you age, it’s recommended to explore additional options to ensure that you can cover your monthly needs.
Retirement program maximum Social Security payments
In November 2023, the average Social Security benefit for retired workers was around $1,900. Retirees’ maximum benefit varies significantly depending on when they begin collecting benefits. They will receive the maximum benefit of $3,822 if they retire in 2024 at the full retirement age.
Workers who retire at age 62 will receive a maximum benefit of $2,710, but if they retire at age 70, their payout will grow to $4,873. As a result, time is one of the most important considerations for retirees when planning for their future Social Security payouts.
The upcoming April Social Security payment schedule
The table below shows the Social Security payment schedule for April, based on the financial assistance program and birthday range. If your Social Security payment does not come on the planned date, please allow at least three postal days before contacting the Social Security Administration (SSA). For more information, see the Schedule of Social Security Benefit Payments for 2024.
Social Security Financial Programs | Date | Payment date |
SSI benefits | April 1st (Monday) | Payment always falls on the first of each month. |
Retirement benefits (Retirees who applied before May 1997) | April 3rd (Wednesday) | Payment is sent on the third of each month. |
Retirement and SSDI benefits | 2nd Wednesday (April 10th)
3rd Wednesday (April 17th) 4th Wednesday (April 24th) |
Day of birth: 1st – 10th.
Day of birth: 11th – 20th. Day of birth: 21st – 31st. |