On November 13, 2024, the Social Security Administration (SSA) will issue the next payment of up to $4,873 for eligible retirees. However, only a select few qualify for this substantial amount, as strict requirements must be met to receive the maximum benefit.
This guide explains the eligibility criteria, payment schedule, and factors that determine your payment amount, so you can see if you might qualify for this sizable November benefit.
Payment Schedule for November
The November Social Security payments are scheduled based on birth dates, so check the following schedule:
- November 13: Recipients born from the 1st to the 10th of any month.
- November 20: Recipients born from the 11th to the 20th.
- November 27: Recipients born from the 21st to the 31st.
If you already received a Social Security payment on November 1, you’re not eligible for additional payments on November 13, 20, or 27.
Additionally, anyone receiving Supplemental Security Income (SSI) or who started Social Security benefits before May 1997 will not receive these mid-month payments.
Eligibility for the $4,873 Maximum Benefit
To qualify for the top Social Security payment of $4,873, you must meet strict requirements based on your work history, income, and filing age:
- Work History: You need at least 35 years of employment.
- Earnings: During these 35 years, your earnings must have consistently hit the SSA’s taxable maximum.
- Retirement Age: You must have waited until age 70 to file for Social Security to receive the full delayed credits.
- SSA-Covered Employment: Only jobs covered by Social Security count toward your eligibility.
If you filed earlier, the maximum possible payment is lower. Filing at Full Retirement Age (FRA) — between 66 and 67, depending on your birth year — caps your benefit at $3,822 per month in 2024. Meanwhile, filing at age 62 results in a reduced maximum benefit of $2,710.
| Filing Age | Monthly Benefit Maximum |
|---|---|
| Filed at 70 | $4,873 |
| Filed at FRA (66-67) | $3,822 |
| Filed at 62 | $2,710 |
These maximums apply only to those who meet the earnings and work history requirements. Filing at age 70 ensures you receive all delayed retirement credits, while filing earlier means a reduction in benefits.
How COLA Will Affect Future Payments
The 2025 Cost of Living Adjustment (COLA) will slightly increase Social Security benefits to account for inflation. Starting in January 2025, monthly payments will see a boost, raising the maximum benefit slightly above the current cap of $4,873 for age-70 filers.
Key Takeaways
- Eligibility Requirements: To receive the maximum benefit, ensure you’ve worked 35 years, earned at or above the taxable maximum, filed at age 70, and held SSA-covered jobs.
- Reduced Benefits for Early Filers: Filing early means reduced benefits. Full benefits apply only when filing at age 70.
- November Payment Schedule: Payments are made based on birthdate—confirm your date to know when to expect your funds.
If you’ve met the SSA’s conditions, the upcoming November 13, 20, and 27 payments could include the $4,873 maximum, or a portion of it, based on your eligibility.
