If you’re one of the millions of people who rely on Social Security Disability Insurance (SSDI) payments, it’s important to stay informed about changes to the payment schedule.
In June 2024 there will be some important updates you need to know about.
Typically, the Social Security Administration (SSA) pays Supplemental Security Income (SSI) payments to eligible beneficiaries on the first of each month.
These benefits are vital for disabled and elderly people who have little or no income.
However, because June 1, 2024, was a Saturday, the SSA distributed the payments one day early, on Friday, May 31.
Understanding Social Security Schedule Changes
This change does not mean that recipients will receive additional payments, it simply brings June payments forward by one day, resulting in two SSI payments in May and no payment in June.
This adjustment may cause confusion as some recipients may think they’ve overpaid, but rest assured your June payment will just arrive one day early.
The SSA has a carefully planned schedule for distributing monthly Social Security and SSI payments.
Payments are typically made on Wednesdays, with the schedule adjusted based on the recipient’s date of birth.
1st to 10th of each month: payments are made on the 2nd Wednesday. 11th to 20th of each month: payments are made on the 3rd Wednesday. 21st to 31st of each month: payments are made on the 4th Wednesday.
For recipients who received Social Security benefits before May 1997, recipients living abroad as permanent residents, and recipients receiving SSI, payments are generally made on the first of each month.
If the day falls on a weekend or federal holiday, payment will be moved to the previous business day, as will be the case in June 2024.
It’s important to note that this early payment also applies to direct deposits.
If you receive your payment via regular mail, it should also arrive quickly, but delivery may be affected by external factors such as weather or logistical delays.
If you don’t receive your mailed check within three business days, we recommend contacting the SSA to report that you haven’t received your payment.
This schedule change will affect approximately 7.4 million SSI recipients.
Receiving payments a day earlier will allow recipients to better manage their finances amid rising costs and inflation.
Economic times are getting tougher and, despite recent benefit increases, a significant number of older adults are considering returning to the workforce.
Understanding these changes and staying up to date on your SSA payment schedule is essential to effectively managing your finances.
To ensure you receive your benefits without any issues, be sure to check the official SSA notices for any updates or changes.