Disability beneficiaries are getting a new check with the COLA of 2024
Social Security benefit payments increase every year. And this applies to both Disability benefits and any other United States retirement check. If you have an accepted benefit you will have seen that the payment has increased in recent months.
Well, in just a week, citizens with a Disability benefit could get the new check with an increase of about $120. This is great news for those who only get a Social Security payment as their only source of income.
Regardless of whether we have a Disability check or not we will get this payment next week. The fact is that the requirements to get payment have nothing to do with the type of check we collect. So take a look at the requirements to see if you are eligible to get a Social Security payment.
Who gets the next COLA disability payment?
In order to collect the new Social Security Disability check we need to meet two mandatory requirements. These two conditions determine whether or not we are eligible. On the one hand, birthday information is critical. On the other hand, the year of retirement is also key.
In this regard, only beneficiaries with birthdays between the 21st and 31st can collect the payment. Similarly, it is also mandatory to have requested the check as of May 1997. If we are in that group, we will get check on the 28th day of February.
This will be the last payment of the month, so after that no other Disability checks will come in February. If you are not in that group, the benefit money should already be in your checking account.
What is the maximum Social Security check?
Depending on the category of our retirement check we may get a different maximum check. The disability payment has the same maximum payment as the Full Retirement Age check. This maximum is $3,822 in this year 2024.
If we retire at age 62, the payment could reach $2,710. Similarly, waiting until age 70 to apply for a retirement check will make us eligible for a benefit of up to $4,873.
But the amount does not affect the day we get our payment each month. Likewise, it also does not affect whether our payment is for Disability or some other reason. The only thing that matters is the two pieces of information we talked about previously.