Retirement money for Social Security users is on the way and it will arrive in days
The next of the Social Security retirement payments will arrive in the United States in a matter of days. This new payment will carry extra money included with respect to the 2023 benefits. And that is because the COLA that was added earlier this year is still in effect.
As such, all payments related to this retirement benefit are larger in 2024. So your 2023 benefit is not the same as in this year 2024. This has been true since January, but some Americans do not know this because they have not paid attention to the amount received or because they have not gotten the payment in these previous months.
The important thing in these cases is that we can get more Social Security than in the previous year. The ultimate goal of the COLA is not to make retired Americans rich, but to give them a chance to fight inflation. And that’s what the COLA was created for, to be able to somewhat curb the loss of purchasing power by retirees.
So if you have a Social Security benefit, regardless of the type of benefit, you could be getting that check very soon. And it doesn’t matter the amount of this new check to get it in the next few days. In the event that we get a monthly payment and in March we don’t have it available, we should be getting it soon.
Which retirees get the new Social Security payment in days?
The next of the March payments will hit the pockets of United States citizens in just a few days. The exact day will be March 13th, 2024. However, on this day the Administration will send out the Social Security payment, but we might get it a little later.
Having it available sooner or later will depend on the collection method we have chosen. Also, we must belong to group 2 of retirees in order to get the benefit on this day. To be part of this group we have to meet two mandatory requirements.
The first requirement is to have the Social Security benefit since after May 1997. The second requirement is to have a birthday between the 1st and 10th of any month. If these two requirements are met, the Administration will send our check on the next March 13th.
Those Americans who have activated Direct Deposit as a collection method will receive the money on the same day it is sent. Otherwise, the Social Security money will arrive a few days later to the current accounts.