The Social Security Administration (SSA) releases an annual Social Security payment schedule so all beneficiaries can be up to date with their future monthly payments. In March, the SSA already distributed the first rounds of payments, but some payments are remaining.
As the Social Security benefit payment schedule for 2024 can be confusing, beneficiaries need to be aware of all the payment method conditions and the exact dates to ensure they can pay their bills on time and save the rest for the entire month. Please read further to get details about the full Social Security payment schedule for this month.
Social Security is an insurance system financed by federal tax returns and payroll withholding. Employees are eligible for up to four credits annually. In 2023, employees could receive one credit for every $1,640 earned. The funds are split between two trust funds: the Disability Insurance Trust Fund (DI) for disability recipients and the Old-Age and Survivors Insurance Trust Fund (OASI) for pensioners.
How much money will Social Security beneficiaries receive in March?
There are several programs available throughout Social Security with varying maximum benefits. Your retirement age determines the maximum payout for retirement benefits. You are eligible to receive up to $3,822 per month at full retirement age (FRA). At age 62, the maximum benefit is reduced to $2,710 if you choose to retire early. On the other hand, you can receive the maximum benefit of $4,873 if you wait to retire until you are 70 years old.
Benefits for survivors also change, as a beneficiary with two children can receive up to $3,653, while a single survivor will only earn a maximum of $1,773 each month. Regarding disability payments, the maximum benefit for SSDI beneficiaries is $3,822, while the Supplemental Security Income (SSI) program offers a maximum of $943 for an individual and $1,415 for a couple. However, SSI beneficiaries can apply for an additional $472 if they qualify for the essential person category.
The complete schedule for Social Security payments in March 2024
The complete Social Security payment schedule is subject to change depending on several factors. Remember that SSI benefits are paid according to a distinct schedule from other forms of assistance. Your SSI March 2024 payment, if you receive it, will be sent to you on March 1, 2024. Here you can find a detailed description of all Social Security benefits remaining payments for this month:
| Payment dates | Social Security payment conditions |
| March 1 |
|
| March 13 | Birthday falls between 1st and 10th of the month |
| March 20 | Birthday falls between the 11th and 20th of the month |
| March 27 | Birthday falls after the 20th of the month |
If your scheduled payment date falls on a weekend or a holiday, you’ll receive an early payment. Such payments will be issued on the weekday immediately before your expected payment date. To get the complete payment schedule for the year, check the Schedule of Social Security Benefit Payments 2024.
Tips to get your Social Security payment faster
Sign up for a direct deposit or the Social Security Administration’s Direct Express benefit card to receive your Social Security payments as fast as possible. You can get direct deposit from the Social Security Administration (SSA) directly into your bank or credit union checking or savings account. You can use Direct Express, which works like a credit or debit card to pay bills and get cash out of an ATM, by visiting the SSA website.