SSA: What is the Special Minimum Social Security Benefit for 2024 | | Mix

This Social Security Administration (SSA) is the entity in charge of issuing paychecks to retirees in the United States. Although the average amount is $1,907 per month in 2024, there are people who earn much less. However, not everyone receives the same amount and when the amount awarded is very low, they may qualify for minimum benefits.

The payments that each person receives are different and depend on many factors such as social security contributions, income history, length of work and, above all, retirement age.

But when the income is too low, the SSA provides help to increase your benefit amount by calculating the minimum Social Security benefit, AS Portal points out. This calculation looks at years of coverage rather than a person’s income to determine how much they can receive from Social Security.

A special minimum social security benefit amount per year

According to the SSA portal, to qualify for the right to special minimum Social Security benefits, A minimum of 11 years of work is required and has earned taxable income of at least a certain amount. In 2024, that minimum income threshold is $18,765. These benefits are increased each year based on the Cost of Living Adjustment (COLA) percentage.

Special minimum benefit every year

• 11 years: US$50.90
• 12 years: US$104.30
• 13 years: US$157.90
• 14 years: US$211.10
• 15 years: US$264.10
• 16 years: US$318.00
• 17 years: US$371.50
• 18 years: US$424.80
• 19 years: US$478.20
• 20 years: US$531.90
• 21 years: US$584.40
• 22 years: US$638.40
• 23 years: US$692.80
• 24 years: US$746.10
• 25 years: US$799.00
• 26 years: US$853.40
• 27 years: US$906.10
• 28 years: US$959.60
• 29 years: US$1,013.20
• 30 years: US$1,066.50

*Updated in December 2023.

Cola in the last 10 years

Since 1975, the most common Social Security benefit increase has been a cost-of-living adjustment, or COLA. Subsequently, COLAs have come into effect with benefits payable in December. Before 1975, Social Security benefit increases were determined by law.

• 2014: 1.7%
• 2015: 0.0%
• 2016: 0.3%
• 2017: 2.0%
• 2018: 2.8%
• 2019: 1.6%
• 2020: 1.3%
• 2021: 5.9%
• 2022: 8.7%
• 2023: 3.2%.

More information about Social Security

In what case can you not receive an SSA retirement payment?

The United States Social Security Administration (SSA) provides benefits to 66 million retired beneficiaries, who can receive up to $4,822 per month. But after reaching retirement age, not everyone is eligible to receive the payment. For what reason? Inadequate number of credits, government or railway employees, among others.

Requirements to Access Social Security

According to Social Security Administration In the United States, there are several requirements to receive these benefits.

• Proof of age such as birth certificate
• Proof of Identity (Driver’s License, Passport, etc.)
• Proof of citizenship or immigration status
• Have a valid social security number.
• Meet the age and/or disability requirements of the program you wish to access.

Basic rules that you should follow to calculate your superannuation payment

Retirement in the United States is a process that can involve many delays, therefore, you should know what laws each contributor must follow to avoid delays in receiving your retirement payment. Among them are: analysis of all earnings, proof of income and salary, but there are more.

How do I know if a Social Security payment applies to me?

All information regarding Social Security and check payment can be found on the government entity’s website, which you can access in Spanish.

How to Apply for SSDI?

• Collect the required documents To release proof of your work and income, your medical records, and personal information, such as your Social Security number and date of birth.
• Submit your application Online, by phone or in person at a local Social Security office.
• Wait for a response Social Security, which may take several months depending on the investigation conducted by the entity’s affiliates.