It becomes a habit after a while to get paid every month. What it does not matter if you are retired or get money from any of the Social Security systems.
It becomes a daily task to figure out when your money will arrive and make sure it has arrived in full.
If you do not care about this process and just want to know when the payment will arrive in general, it can be hard when the Social Security Administration (SSA) changes how things usually work.
Because of this, it is very important to know the steps the Social Security Administration takes to calculate and send your Social Security check.
The more you are used to how SSA does things, the easier it will be to adapt and understand why the changes need to be made and how you can gain from them or, if not, lessen their effects.
Read on to find out what changes the Social Security Administration is making to the way they pay people next month.
How does Social Security plan their payments?
Social Security has set out a simpler way to handle the monthly payments it makes to more than 70 million members. Large amounts of money and administrative costs are needed to figure out and organize the execution of payments for this volume.
In order to make things easier for management, payments need to be spread out over the course of the month instead of just being made on one day.
This is why the Social Security Administration came up with an Official Payment plan, which makes it easy to find out when your payment will come.
But it is best to know the main things that make up each date. If you don’t, you might not know when your Social Security payment is coming.
When you start getting Social Security payments, the scheduling process starts. People who got benefits before May 1997 will get them every third month. If you are in this group, do not worry about what class you are in. Just think about the date.
There are a few more steps to take if you started getting benefits after May 1997. This is because it depends on the program you are a part of. Supplemental Security Income (SSI) recipients should expect to get their payments on the first of every month.
The rest of the events will be paid for based on the beneficiary’s birthday, which will put them on a different Wednesday every month:
Beneficiaries’ Birth date | Wednesday of the month |
1st to 10th | Second |
11th 20th | Third |
21st to 31st | Fourth |
Things will be different in other months of the year after November. That is not going to happen from November 3rd to November 9th. You will not get any Social Security payouts during that time.
How much can you receive from Social Security?
It will depend on your situation, but to give you an idea, here are the average Social Security benefits based on figures from the Social Security Administration (SSA) from September 2024:
- Retirement: $1,872.09
- Survivor: $1,509.36
- Disability: $1,402.69
- SSI: $698.51
How can you be part of the Social Security programs?
Like the expected monthly benefits, this depends on the program. For more information, the official SSA website is the best place to start. Here are some tips for each tool, though:
Retirement: You must be at least 62 years old and have paid your payroll taxes for at least ten years.
Survivor: You can apply as the spouse or in representation of the deceased worker’s dependents.
Disability: You must be medically declared as blind or disabled and have contributed at least 5 of the last ten years to Social Security taxes.
SSI: You would need to be 65 years old or disabled, not earn more than $1,971 from work each month, and have less than $2,000 in assets.
Also see:-Total change in Social Security if this happens on November 5th – Already confirmed
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