The Social Security Administration (SSA) has just issued the first regular Social Security payment of July, which has gone out to those born between the 1st and the 10th of every month that started claiming benefits post-May 1997. Now it is the turn for the next group to be vigilant of their mailboxes and bank accounts in preparation to receive their benefits.
Since Social Security payments are so tightly scheduled, there is very little room to interpret payments or amounts. It is done like that to ensure that all beneficiaries, but especially those who fully rely on Social Security or receive more than one benefit, can know without a doubt the date of their benefits and plan their finances around them correctly. Some recipients are in a vulnerable economic position and would be unduly burdened by late fees or nonpayment notices.
Table of Contents
Payment Schedule
To avoid that, the SSA creates a calendar every year with the exact dates of payment distributions. This way beneficiaries can plan around those dates and have sufficient time to adapt, move things around, or save up if needed. This is because, despite the calendar being set, there are some exceptions that retirees need to take into account.
On these days, payments cannot be distributed, as banks do not open and mail carriers are also not delivering, and so the dates need to be changed to the previous day when these services are available in order to not delay processes.
Luckily for retirees and other Social Security recipients, this year the July calendar is as straightforward as it can be, with benefits going out on their scheduled dates for the entire month and no variations. The payments that have already been sent are:
- 1st of Every Month: This month on a Monday, to all those who started claiming retirement benefits prior to May 1997, live permanently abroad, or receive Supplemental Security Income (SSI) benefits (retired or not).
- 3rd of Every Month: This month falling on a Wednesday, like the rest of the scheduled Social Security retirement benefits payments, it is used to stagger SSI and Social Security benefits for those who are meant to receive both on the 1st of every month. In that special case, SSI will be received on the 1st and retirement and disability benefits on the 3rd of every month.
Remaining July Payments
Additionally, there are three other regular Social Security payments, that all go out on a Wednesday unless prevented by a holiday or other event, the first of which went out this week on the 10th of July this month. The two missing payments will go out on the 2nd and 3rd Wednesday of the month.
- Wednesday, July 17: Will serve those beneficiaries born between the 11th and 20th of any month.
- Wednesday, July 24: Will round off the month sending the payment to beneficiaries born between the 21st and 31st of any month.
Missing Checks
If the scheduled date for the Social Security benefits payment arrives and the check has not yet reached you, you should wait for a maximum of three days. If the check has still not arrived after this period, it is then time to contact the SSA directly and they will be able to help you track it down or send a new one.
Do take into account that, even though the SSA tries to ensure that the checks will arrive on time, weather patterns may delay the physical ones sent through regular mail and bank processing times vary from institution to institution, so you may need to wait a little longer to get the money into your possession.
By following the SSA’s payment schedule and understanding the potential delays due to weather or bank processing times, beneficiaries can better plan their finances. Keeping track of the payment dates and knowing the procedure for addressing missing checks can help ensure financial stability and peace of mind for all Social Security recipients.
FAQs
When will I receive my Social Security payment in July?
Payments are issued based on your birthdate: 1st-10th (July 10), 11th-20th (July 17), 21st-31st (July 24).
What should I do if my payment is late?
Wait three days past the scheduled date, then contact the SSA if it still hasn’t arrived.
Do payment dates change for holidays and weekends?
Yes, payments are moved to the previous business day if a holiday or weekend interferes.
How are payments for SSI and Social Security coordinated?
SSI is paid on the 1st of each month, and Social Security on the 3rd for those receiving both benefits.
Can bank processing times affect my payment arrival?
Yes, different banks have varying processing times which may delay your payment.
