The Social Security Administration (SSA) is preparing to begin sending benefits to millions of people for the month of October.
Each month, the SSA is responsible for sending payments to retired workers and survivors, that is, to the children, spouses, widows, widowers or parents of a deceased beneficiary.
Additionally, it sends disability benefits, including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI).
Social Security: how much money is sent in 2023?
This year, average retiree payments increased to about $1,827. On the other hand, the maximum benefit for those who retire at age 62 is $2,572 per month; $3,627 for those who retire at full retirement age (67 years) and $4,555 for those who retire at age 70 or later.
As for Supplemental Security Income (SSI), the maximum monthly benefit is $914 for an individual, $1,371 for a married couple where both spouses are eligible for the program, and $458 for an essential person.
This is how Social Security payments are sent: shipping schedule
Supplemental Security Income (SSI) payments are sent out on the first day of each month. If the first day of the month falls on a Saturday or Sunday, payment is advanced to the last Friday of the previous month.
On the third day of each month, the SSA sends money to beneficiaries who began receiving their payments before May 1997. If the third day falls on a weekend, payments are also brought forward.
For those who collect Social Security (retiree, survivors, or SSDI) and SSI benefits at the same time, your SSI payment is sent on the first day of the month and your Social Security payment is sent on the third day.
You may be interested in: Changes in Social Security payments: what they are and how they will affect me
The rest of the checks are sent on Wednesdays, depending on the date of birth of the beneficiaries:
Second Wednesday of the month: retirees with a date of birth between the 1st and 10th Third Wednesday: beneficiaries born between the 11th and the 20th Fourth Wednesday: retirees born between the 21st and the 31st
$1,800 Social Security Payments: Exact Shipping Dates in October 2023
Taking this schedule into account, these are the payment dates for Social Security benefits for October 2023:
October 3: Beneficiaries who began receiving their payments before May 1997 October 11: Beneficiaries with a date of birth between 1 and 10 October 18: Beneficiaries with a date of birth between 11 and 20 October 25: Beneficiaries with a date of birth between the 21st and the 31st
The SSI payment for October was brought forward, being sent on September 29 because October 1 is a Sunday.
#Social #Security #Payments #Exact #Shipping #Dates #October