“Social Security Payments: Who Will Receive Benefits on October 23?”
If you receive Social Security retirement benefits, your payment could arrive on one of four different paydays each month. The timing of your direct deposit or check depends on specific rules related to your birth date.
For some retirees, the last payment in October won’t be issued until October 23. However, rest assured that this payment will arrive on time as scheduled, despite the later date.
Who Qualifies for the October 23 Payment?
To be eligible for the final Social Security payment in October, you must meet the following birthday requirement:
- Payment on October 9: Born between the 1st and 10th of the month
- Payment on October 16: Born between the 11th and 20th of the month
- Payment on October 23: Born between the 21st and 31st of the month
Additionally, there are two scenarios that could prevent you from receiving a payment on one of the Wednesdays. If you began receiving benefits before May 1997, your next Social Security check will be due on November 1—two days earlier than the regular schedule. Also, those receiving Supplemental Security Income (SSI) and retirement benefits do not qualify for the October 23 payment.
How Much Could You Receive on October 23?
The amount of your Social Security benefits varies based on when you filed. Here’s what you can expect:
- If you filed at age 70: Up to $4,873 per month
- If you filed at age 62: Up to $2,710 per month
- If you filed at Full Retirement Age: Up to $3,822 per month
On average, Social Security payments are around $1,920. However, if you only worked for ten years, filed at age 62, and earned a low wage, your benefit could be significantly less.
Retirees who have recently begun receiving Social Security benefits and have low income and minimal resources may qualify for SSI benefits. These individuals could receive an average monthly payment of $575. The next SSI check won’t be issued until November 1, and decisions on new applications may take longer if submitted in October.
