Payments from Social Security to be disbursed in 7 days, check eligibility if you are 62 years old or older

February will bring 4 new payment dates for Social Security recipients. However, it will not be until February 3 when the first retirees can receive their monthly payment if eligible.

Thus, if you are 62 years old or older, check if you meet the requirements to get the first Social Security payment in February. Those retirees who started receiving retirement benefit payments after April 30, 1997, may not qualify unless they meet an additional condition.

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Social Security on February 3: Eligibility

To be eligible for the next payment for retirees on Feb. 3, 2025, you must have filed before May 1997. Therefore, you must have been receiving benefits since before that date.

Those who do not qualify for Social Security on February 3 for this reason, will need to be on SSI and retirement or SSDI benefits simultaneously. Therefore, if you are SSI and Social Security recipients, you will get retirement or SSDI on Feb. 3 and SSI on January 31, 2025.

For your information, these are the only two ways to qualify for Social Security on the third. Generally, this is the second payday SSA schedules. Nevertheless, it will be the first in February because SSI has been scheduled for January 31. This is because SSA cannot schedule payments on the weekend, so changes need to be made from time to time.

Will you receive a Social Security payment?

As of January 2024, $1,976 is the average payment retirees can receive from the Administration. Although it is a possible amount, it is more than likely that you receive a completely different amount.

Retirement benefit payments depend on the number of years you worked for, the age you filed and the taxes you paid to SSA. Hence, some retirees may receive a much lower payment if they filed at 62 and worked for the minimum, just ten years.

On the contrary, workers who filed at 70, worked for 35 years in jobs covered by Social Security and earned the taxable maximum all those years can get up to $5,108 on February 3, 2025.

Source:

• https://www.ssa.gov/pubs/EN-05-10031-2025.pdf
• https://www.ssa.gov/policy/docs/quickfacts/stat_snapshot/