Regardless of United States inflation, COLA increases or any of the other elements that shape the economy, Social Security does a great job for Americans. Thanks to this institution, both retirees and people with disabilities can have a monthly financial amount in the form of a check. This means, therefore, that they can pay their bills, their rents, their mortgages and all the expenses they have. In addition, it should also be noted that these payments are made on time.
Thanks to this punctuality in Social Security payments, the organization of the domestic economy is easier. If retirees know when they will receive the money, they can have more control over their expenses. Payments are made in three distinct groups, with the first payment in October on the 12th day, the second payment on the 19th day and the third and final payment on the 26th day. The Social Security Administration sends each of these days the subsidy payment to a different group of people.
The group in which each retiree receives the money is formed by the day of birth. Thus, on the next payment day the Social Security Administration will send the retirement or disability subsidy to those born between the 11th and 20th. That day will be the 19th of October, the third Wednesday of the month. This is the usual schedule for Social Security payments, with very few exceptions.
Average Social Security Payment in 2022
The average Social Security payment in 2022 for individual benefits for beneficiaries with disabilities is $1,358 per month. Since each of the subsidies is individual, each payment is totally different. Disability benefits have a lower maximum than retirement benefits. The average is also different. On the other hand, the average retirement benefit is $1,666 per month.
![The average SSA money will increase next year](https://www.tododisca.com/en/wp-content/uploads/2022/10/The-average-SSA-money-will-increase-next-year.jpg)
Under the recently announced COLA for 2023, benefit increases will be 8.7%. This will work for all types of benefits, including Supplemental Security Income. Therefore, both the average retirement and disability benefit and the maximum Social Security benefit will increase. If there is no problem with your benefit, you will see an increase starting in January of next year 2023.
There are a lot of beneficiaries who wonder what you have to do to collect COLA. One of the things about COLA is that we are not required to do anything. Therefore, just having a Social Security benefit is enough to achieve this goal.
In this sense, you will have to do absolutely nothing to have this COLA increase. The Social Security Administration will do it all automatically. So that you can enjoy this new increase in the amount of your monthly retirement or disability subsidy check. In this sense, the same will happen with the Supplemental Security Income, since if you have this other financial benefit you will also see an increase. The amount of money that increases in SSI is also proportional and works on a percentage basis.
Even so, remember to pay all your taxes to avoid any type of penalty related to them. If you are not obligated to pay them, all the better, but in case you have to, don’t forget. Plus, you could get one of the stimulus checks next year if you pay your taxes on time.