This week, millions of beneficiaries from the Supplemental Security Income (SSI) and retirement, survivor, and disability insurance (RSDI) programs will receive new Social Security payments. These funds cover essential expenses such as housing, groceries, healthcare, transportation, and entertainment.
Having enough money to cover monthly expenses is crucial, especially for seniors who rely on these payments as their only source of income or for low-income seniors who struggle to make ends meet. If you qualify for retirement and Supplemental Security Income benefits, know more about the upcoming two payments scheduled for this week.
Table of Contents
- 1 Recipients
- 2 SSI Benefits
- 3 Retirement Benefits
- 4 Payment Amounts
- 4.1 $500 Affordability Cheque October 2024 – Is It Coming? Check Payment Dates, Eligibility, and Latest News
- 4.2 FAQs
- 4.3 When will SSI recipients get their payment this month?
- 4.4 How much will retirees receive next week?
- 4.5 What should I do if my check doesn’t arrive on time?
- 4.6 How are payment dates determined for retirees?
- 4.7 Can SSI payment dates change?
Recipients
Every month, the Social Security Administration (SSA) delivers five rounds of payments to eligible recipients. More than 67 million beneficiaries receive these payments monthly. These recipients include seniors, disabled individuals, and low-income families who depend on these funds to survive. Understanding the payment schedule can help beneficiaries plan their finances better.
SSI Benefits
Supplemental Security Income benefits are always paid on the first day of the month unless it falls on a weekend or federal holiday. In such cases, the payment is rescheduled to the preceding business day. Here are the upcoming SSI payment dates:
| Month | Payment Date | Day |
|---|---|---|
| August | August 1st | Thursday |
| September | August 30th | Friday |
| October | October 1st | Tuesday |
| November | November 1st | Friday |
| December | November 29th | Friday |
Retirement Benefits
The SSA divides retired workers into two groups: those who claimed benefits before May 1997 and those who claimed afterwards. The first group always receives payments on the third day of the month. The second group receives payments based on their birthdate:
- Third of the Month: Retirees who claimed benefits before 1997.
- Second Wednesday: Retirees who claimed benefits after 1997 and were born between the 1st and the 10th.
- Third Wednesday: Retirees who claimed benefits after 1997 and were born between the 11th and the 20th.
- Fourth Wednesday: Retirees who claimed benefits after 1997 and were born between the 21st and the 31st.
Next week, the SSA will send the last payment of the month for retirees born between the 21st and 31st on Wednesday, July 31st. The following day, SSI recipients will receive their payments on Thursday, August 1st. If your monthly check doesn’t arrive on the scheduled date, wait at least three mailing days before contacting SSA customer service.
Payment Amounts
Next week, SSI recipients will receive an average of $698, while retirees will receive up to $1,900. Payment amounts vary depending on the filing category, full retirement age, working history, and Social Security contributions. Here are some details about the payment amounts:
| Payment Type | Average Amount | Other Payment Amounts |
|---|---|---|
| Retirement Benefits | $1,900 | Age 62: $2,710 |
| Age 67: $3,822 | ||
| Age 70: $4,873 | ||
| SSI Benefits | $698 | Individuals: $943 |
| Couples: $1,415 | ||
| Essential person: $472 |
Knowing these amounts can help beneficiaries plan their monthly budgets and ensure they have enough to cover essential expenses.
In conclusion, the upcoming Social Security payments are a lifeline for millions of Americans. Knowing the payment schedule and amounts can help beneficiaries manage their finances effectively. If you’re expecting a payment, keep an eye on the schedule and know what to do if there’s a delay.
FAQs
When will SSI recipients get their payment this month?
SSI recipients will receive their payment on August 1st.
How much will retirees receive next week?
Retirees will receive up to $1,900 on average.
What should I do if my check doesn’t arrive on time?
Wait at least three mailing days before contacting SSA customer service.
How are payment dates determined for retirees?
Payment dates are based on when retirees claimed benefits and their birthdate.
Can SSI payment dates change?
Yes, if the first of the month falls on a weekend or holiday, the payment is rescheduled to the preceding business day.