Social Security Payment Dates May 2024- Know Benefit Dates & Application Process after 3.2% COLA

After the COVID-19 epidemic, the social security programs became the key source of income for the retired citizens, low-income households and the people who cannot work due to any disability. The living expenses, household requirements and healthcare expenses are majorly dependent on these social security programs. The Social Security Administration (SSA) provides the financial aid to the eligible seniors, disabled and survivors who cannot afford their living expenses like paying rents and bills, and purchasing healthcare and food items. Due to rising inflation and as the income remains constant, retired seniors often find it difficult to manage their expenses. In this post, we will discuss about the social security and its payment dates of May 2024. Check out the full post so that you cannot miss any updates.

Social Security Payment Dates May 2024

  • The beneficiaries of the SSI, SSDI and VA benefits will receive their social security in the month of May as per the announced schedule by the SSA. The payment date for the beneficiaries who are receiving social security under SSI and SSDI will widely depend on their date of births and the year they have filed for social security. The SSA has divided the payment dates in four different categories for all the eligible candidates. According to SSA, the payment will be out on second, third and fourth Wednesday of the month. The two of the four social security payments of May are already out and most of the eligible seniors have received their social security of May 2024.
  • If you didn’t receive your social security payment, then don’t worry, there are still two payment dates remaining in May 2024. The SSA usually made changes in the payment amount based on the rise and decline in cost-of-living adjustments (COLA). The COLA in 2024 is 3.2% which is the lowest in three years as compared to last year’s COLA which was 8.7%. However, the bottom line is that not every American will receive the social security payment. You must qualify for eligibility set by the U.S. government to avail your social security benefits. The social security payment will widely depend on certain factors such as, your income, age and family members in your household. As confirmed by the SSA, if your income exceeds, then there is a certain possibility that your social security will be reduced and vice versa.

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Social Security Payment Dates May 2024 Quick Overview

Post name Social Security Payment Dates May 2024
Country USA
Department Social Security Administration (SSA)
Category Financial aid
Applicable for US citizens
Payment dates May 2024

Social Security Payment Dates May 2024- Know Benefit Dates & Application Process after 3.2% COLA

 Who Receives Social Security Benefits?

  • The SSA runs many social security programs in order to provide financial assistance to its eligible citizens. The Supplemental Social Income (SSA) and the Social Security Disability Income (SSDI) are among the major programs under SSA. The main aim behind these programs by SSA is to make sure that the citizens of US need not have to face any difficulties while managing their expenses based on their living standards.
  • The payment amount of social security is directly deposited to the respective bank account of the recipient. The retired seniors, disabled citizens and the survivors receive their social security income on a monthly basis if they have qualified the eligibility criteria.

Social Security Payment Dates May 2024

As mentioned earlier, the social payment for May 2024 will be out on the announced dates which are second, third and fourth Wednesday of the month. Eligible candidates who have filed their social security before April 1997 have received their payment in the first week on May.

  • Candidates whose birth dates fall between 1st and 10th of the month have received their payment on 8th May, 2024.
  • But don’t worry, there are still two payment dates remaining for this month’s social security. If your birth date falls between 11th and 20th of the month, then you will receive your payment on 15th May 2024.
  • On the other hand, if you are born between the dates of 21st and 31st of the month, then your payment will be out on 22nd May 2024. Take a close look of payment dates in the table mentioned below:
Between 1st and 10th of the month 8th May, 2024
Between 11th and 20th of the month 15th May 2024
Between 21st and 31st of the month 22nd May 2024
SSI before April 1997 1st May 2024
SSDI before April 1997 3rd May 2024

How to Apply for Social Security Benefits

Take a look at the points listed to apply for the social security May 2024:

  • First of all, visit the official website of the SSA.
  • On homepage, find the online application form to apply.
  • Fill up you Social Security Number (SSN) along with all the essential details as asked.
  • Attach all the mandatory documents as required.
  • Submit the form after filling it up.
  • The SSA authorities will review your form to evaluate if you qualify for the social security.
  • For those, who are not applying through the online portal are advised to visit the SSA office.

3.2% COLA Social Security Payment Increase in 2024

  • The COLA of 3.2% is applied to approximately 7.5 million SSI payments and more than 66 million Americans will receive an increase of 3.2% in their social security. It is a drop from 8.7% from last year due to a decline in inflation.
  • But first, you need to check your eligibility criteria before applying to claim your social security. Candidates of 65 years old or above are eligible to receive the social security. If a person a 64 or below and have any disability, then he can also apply for the social security.
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