According to Vibes.okdiario , If you’re a senior still working, you may be eligible to claim Social Security retirement benefits. The first requirement is that you must be at least 62 years old to begin receiving benefits, either by check or direct deposit. Additionally, you need to have worked enough years, but not all jobs pay into Social Security.
Even if you have worked for 40 years, you might not qualify for Social Security retirement benefits. This situation often arises if you’ve spent most of your career working abroad, or if your employment was with a local, state, or federal government. In these cases, the Social Security Administration (SSA) may have different rules that apply.
Do You Have 40 Work Credits?
To qualify for Social Security retirement benefits at 62, you need to have earned at least 40 work credits, which typically equals 10 years of work. However, this may vary depending on how much you earned each year.
If you’re unsure how many credits you’ve accumulated, you can check your work history and credits through your my Social Security account. You can access and download your Statement, which will show whether you’re eligible for retirement benefits at age 62 and the potential benefit amounts at different ages. Keep in mind that filing for Social Security at 62 will reduce the monthly payment amount you receive.
Also Read – Attention Retirees: Key Social Security Action to Take by November 20
Social Security Payments in December
Once you apply for Social Security retirement benefits and your application is approved, your monthly payment will be issued on specific dates in December. Payments are typically made on December 3, 11, 18, or 24. However, if you recently applied and are also receiving Supplemental Security Income (SSI), your payment could be issued on December 3.
For those receiving payments on December 11, 18, or 24, your payment date depends on your birthdate:
- December 11: Born between the 1st and 10th
- December 18: Born between the 11th and 20th
- December 24: Born between the 21st and 31st
The amount you will receive depends on your work history and earnings. In December 2024, the average Social Security retirement payment will be around $1,927. A 2.5% Cost-of-Living Adjustment (COLA) will be applied in January 2025, increasing your payment slightly.
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