What Time Will Social Security Pay This Week? Check for Retirees and Disability Benefits Delivery

Retirees looking forward to their golden years after decades of work and disabled workers depending on monthly payments can rest assured that their benefits are on the way. The Social Security Administration (SSA) has announced two more Social Security payments for this month. Here’s what you need to know about the timing and details of your benefits if you qualify for disability or retirement payments.

Importance

Social Security is a crucial support system in the U.S., providing coverage for individuals who become disabled and families of deceased wage earners. It also serves as a base income for workers planning for retirement.

According to SSA statistics, about 67 million individuals, or one in five Americans, receive monthly benefits. The majority are elderly, while others are young survivors of deceased workers or recipients of Social Security Disability Insurance (SSDI).

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Payment Schedule

The SSA has outlined the payment schedule for this month as follows:

• Second Wednesday (July 10th): Payments for retirees and disabled individuals born between the 1st and 10th.
• Third Tuesday (July 17th): Payments for retirees and disabled individuals born between the 11th and the 20th.
• Fourth Wednesday (July 24th): Payments for retirees and disabled individuals born between the 21st and the 31st.

Payment Amounts

Social Security benefits vary based on several factors including full retirement age (FRA), work history, type of disability, and past contributions to the Social Security system. Here’s a breakdown of the average payments:

SSA Programs	Retired Workers	Survivors	Disabled Americans
On Average	$1,900	$1,505	$1,537
Other Payments	Age 62: $2,710<br>Age 67: $3,822<br>Age 70: $4,873	Individual: $1,773<br>2 Children: $3,653	Blind Recipients: $2,590<br>Maximum Payment: $3,822

Retirement Benefits

To qualify for retirement benefits, individuals must work and pay Social Security taxes through payroll deductions or self-employment tax returns. Workers earn credits on their earnings, and up to 40 lifetime credits are needed to qualify for retirement benefits. Typically, earning four credits per year is achievable.

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Disability Benefits

For Social Security Disability Insurance (SSDI), disabled individuals must demonstrate an inability to work or engage in substantial gainful activity due to a severe medical condition lasting a year or more, or that is expected to result in death. Meeting Social Security’s definition of disability is essential, and applicants must have paid payroll taxes.

Income Considerations

Given that disability benefits might not cover all expenses, having additional income sources is advisable. Alongside SSDI, applicants might also be eligible for Supplemental Security Income (SSI). Those meeting stringent requirements may qualify for both programs, although each serves different purposes. SSI applications are not separate if applying for both benefits, and income cannot exceed SSI payments under current SSA criteria.

Key Takeaways

• When to Expect Payments: Payments are scheduled for the second, third, and fourth Wednesdays of each month based on birth dates.
• Average Payments: Amounts vary but generally range from $1,500 to $4,873 depending on several factors.
• Eligibility Requirements: Working and paying Social Security taxes earn credits towards retirement benefits, while disability benefits require proof of a qualifying condition and paid payroll taxes.
• Supplemental Security Income (SSI): Some might qualify for both SSDI and SSI, providing additional financial support.

Knowing the ins and outs of Social Security benefits can help retirees and disabled individuals better prepare for their financial future and ensure they receive the support they need.

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