If you are eligible for retirement benefits, keep an eye on your bank account because soon, a new Social Security payment will be sent to people who are eligible. The Social Security Administration plans five rounds of payouts every month for disabled people, retirees, and people who have lost a spouse.
The SSA’s job is to send more than 70 million payments to people who are eligible and have met all the requirements, such as being at least 62 years old, having worked, paying into Social Security, and having a certain type of disability—specifically for people who qualify for the Social Security Disability Insurance (SSDI) program.
You need to know how the Social Security Administration works, even though each government office has its own rules for how it does things.
How is your Social Security payment scheduled?
Given that more than 70 million Americans get a Social Security check every month, it makes sense that there needs to be a precise and repeatable way to make these payments. This is especially true when you think about the people who mostly benefit from SSA’s programs: seniors, disabled people, children, and families without a main wage earner.
These are groups that are more likely to be poor. Because of this, rules have been put in place to set the plan for each year’s Social Security payments. But, since it might be a little unclear, please explain it in more detail.
The Social Security Administration (SSA) has made a general set of rules for how to handle a Social Security check. The first one has to do with when you began getting monthly payments. May 1997 is the end date.
No matter what program a person is on, if they started getting benefits before May 1997, they will always get their payouts on the third of the month. If you started after May 1997, there are now a few more conditions that depend on the school you are in. There are these conditions:
- SSI: They will receive their payment on the first day of the month.
- Old age, survivors, and disability: They will receive their payment on a Wednesday of the month, depending on their birth date:
- 1st–10th: It corresponds to the second Wednesday of the month.
- 11th–20th: We will receive it on the third Wednesday of the month.
- 21st-31st: They can expect it on the fourth Wednesday of the month.
There is one more rule that is more of a restriction that Social Security has put in place over time to make sure that nothing unexpected happens that could make it impossible to get Social Security payouts. As we already said, the government agency handles the kinds of payments that decide if someone can afford food at any given time.
As a result, it must do everything possible to avoid any payment delays. Because of this, if any of the above dates happen on a holiday or weekend, the payment will be made the next business day. If there is a holiday, this will be the day before instead of every Friday.
When Should You Expect to Receive Your Social Security Payment?
Because the SSA is in charge of four different programs, people who get Social Security benefits need to know exactly when they will get their money. Before we talk about this month’s plan, we need to go back and look at the general rules that apply to the programs that SSA runs when it comes to paying benefits.
People who were born between the 1st and 10th of the month will get their money next week, on September 11. Watch out if you’re in this group. The SSA says you should wait at least three more work days before calling your local office to say that your Social Security payment is missing.