Retirement and disability are two scenarios in which financial stability can be threatened. Social Security checks are especially helpful in these situations. The Social Security Administration (SSA for short) is the agency in charge of various programs specifically designed to provide basic financial assistance to Americans who have experienced this type of tragedy and keep them from falling prey to the claws of poverty.
All of our programs focus on solving problems in the most efficient and cost-effective way possible, rather than waiting until you find yourself in a dire situation – preventing problems so that you can access funds to help you when they do occur (or when certain circumstances arise, like with retirement programs). As a senior or disabled person, it’s important to stay aware of all the program information available to you, especially when it comes time to receive your monthly Social Security check and other exceptional circumstances that may change this calendar.
Even though these programs can provide financial security, all your efforts may be in vain if the money isn’t paid on time. If you’re eligible for retirement or disability benefits, find out more about each program’s upcoming payment dates and allowable payment amounts. Not all recipients receive the same amount, especially those in the Social Security Disability Insurance (SSDI) program, depending on their work history, how much they’ve contributed to the system, and the type of disability they’re applying for.
When will the next Social Security payment hit retiree and disability bank accounts?
The Social Security Administration (SSA) maintains a payment schedule for Social Security checks, and in most cases, this schedule does not change, so you can safely plan your spending accordingly. However, this does not mean that there are no exceptions. Let’s start with the basic protocols for each software. Seniors and people with disabilities can benefit from the following SSA programs:
Retirement. Survivors. Disability Insurance. Supplemental Security Income.
First, we’ll split these people into two groups: those who started receiving benefits before May 1997, and those who started receiving them after that. For now, the first group is not the subject of this article because their Social Security checks are sent no later than the 3rd of each month. Also, keep in mind that Supplemental Social Security Income (SSI) is always paid on the 1st of each month, so we won’t be including it in this post. The rest of the group will be divided into the following groups based on their date of birth:
From the 1st to the 10th, payments are made on the 2nd Wednesday of each month. From the 11th to the 20th, payments are made on the 3rd Wednesday of each month. From the 21st to the 31st, payments are made on the 4th Wednesday of each month.
As a result, retirees and disabled people who are eligible to receive Social Security benefits are those born between the 11th and 20th of the month. Specifically, they will be paid on Tuesday, June 18th, as you can see, and not Wednesday as mentioned above. This is not an error, but a rare case where the Social Security Administration chose to make a minor change to avoid the unexpected situation of having payments delayed for eligible Americans because June 19th is a federal holiday.
Social Security Benefits by Program
As mentioned above, the Social Security Administration (SSA) calculates payment amounts based on several factors: Below you can see all approved payment amounts by program for the current fiscal year.
Social Security Benefit Amount Retirement Benefit Survivor Benefit Disability Benefit Average $1,900 $1,505 $1,537 Other Payments Age 62: $2,710
Age 67: $3,822
Age 70: $4,873
Individual: $1,773
2 children: $3,653
Blind recipients: $2,590
Maximum payout: $3,822