BIG UPDATE: The next Social Security payment for retirees will be made in a few days – You must be born between these dates
If you’re eligible for retirement benefits, keep an eye on your bank account—new Social Security payments will be hitting accounts in just a few days. The Social Security Administration (SSA) processes five rounds of payments each month for retirees, survivors, and disabled individuals across the United States, ensuring that more than 70 million payments are delivered to those who have met the necessary requirements.
Understanding the Social Security Payment Schedule
With over 70 million Americans receiving monthly Social Security payments, it’s crucial to have a reliable and consistent process in place for disbursing these funds. The beneficiaries, which include seniors, the disabled, children, and families without a primary wage earner, are among those most susceptible to poverty. To facilitate smooth operations, the SSA has established a structured payment schedule.
The payment schedule is largely determined by when beneficiaries started receiving their monthly benefits. Here’s how it breaks down:
- Before May 1997: Individuals who began receiving benefits before this date (regardless of their current program) will always receive payments on the third of each month.
- After May 1997: For those who began receiving benefits after this date, the schedule varies based on the program:
- Supplemental Security Income (SSI): Payments are issued on the first day of the month.
- Old Age, Survivors, and Disability Insurance (OASDI): Payments are made on specific Wednesdays of the month, determined by the beneficiary’s birth date:
- 1st–10th: Payments are scheduled for the second Wednesday of the month.
- 11th–20th: Payments occur on the third Wednesday.
- 21st–31st: Payments are issued on the fourth Wednesday.
To minimize payment disruptions, the SSA has also implemented a rule that shifts payment dates if they fall on a weekend or holiday. In such cases, the payment will be advanced to the next business day—typically a Friday, or the preceding day if it’s a holiday.
When to Expect Your Payment
With four different programs managed by the SSA, it’s essential for beneficiaries to know exactly when they’ll receive their payments. As we look at this month’s calendar, those born between the 1st and 10th of the month can expect their payments on Wednesday, September 11. If you belong to this group, keep an eye on your account.
The SSA advises beneficiaries to wait at least three business days before contacting their local office regarding any missing Social Security payments. This waiting period allows for processing delays that might occur.
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