Who will receive two Social Security payments in May 2024?
Some Social Security beneficiaries will receive two payments for the month of May. Find out if you are among them and when you can expect the checks.
The Social Security Administration continues to send April benefits even as it prepares to send the checks for May, the month in which some beneficiaries will receive two payments.
Recipients of Supplemental Security Income will receive two checks in May. According to the SSA payment schedule, SSI benefits are sent on the first day of each month.
However, if the first day is a Saturday, Sunday or holiday, payments are sent in advance, generally to the last Friday of the previous month, resulting in two payments in one month.
When will the two Social Security payments be sent in May?
According to the schedule, Supplemental Security Income benefits for May will be sent on the first day of the month, while a second payment will be sent at the end of the month.
Because June 1 falls on a Saturday, the SSI payment is advanced and sent on May 31. SSI beneficiaries will then receive two payments next month, but in June they will no longer receive any.
READ ALSO: The difference between ‘accepted’ and ‘approved’ tax returns
Payment schedule for April and May
April
May
READ ALSO: Expanded Child Tax Credit can still be claimed in 2024
What are the average Social Security payments?
In 2024, average payments for retired workers rose to just over $1,900, according to the SSA. Other Social Security payments would look like this the year:
The maximum benefit at age 62 is $2,710; at age 65 it is $3,426; and at age 66 it is $3,652. Regarding payments claimed at full retirement age (67 years for people born after 1960), the maximum benefit is $3,822.Those who delay their retirement until age 70 are eligible for a maximum payment of $4,873.
Additionally, this year, Supplemental Security Income (SSI) benefits have risen to $943 for individuals and $1,415 for couples.
SSI payments are sent via direct deposit to beneficiaries who have provided their bank details to the SSA or via mail, which takes longer to arrive.