Keeping the United States Social Security Administration’s payment system under control is easy if you know a few details. For example, the schedule of payments always follows the same pattern, which makes it easier for retirees to organize. In total, four different groups receive Social Security on different days of the month.
To find out on which exact day we can receive one of these checks, all we need to have in mind is a few personal details. This data is not difficult to obtain, as it is private and personal information. If we know which group of retirees we belong to, we can easily find out exactly what day we will receive our retirement or disability benefit.
After finding out on which day of the month we can cash the check we just have to follow the same pattern for the following months. Even so, banks always announce in advance the day on which Social Security pays retirement checks. And these checks are not only for age-based retirees, but can also be cashed by disability beneficiaries. Do you know which group of retirees you belong to?
If you know exactly which group of retirees you belong to, you can make sure whether or not you have the payment in your pocket today. Only one of the groups of Social Security beneficiaries will be able to enjoy the benefit on this day. So you can prepare to go to the ATM if you have activated the specific payment method and belong to this group of beneficiaries.
Who gets the next Social Security payment?
Only one group of retirees can receive the next Social Security payment. This group of retirees will be the second group to receive a check in May. The first group of retirees always receives the money on the 3rd of each month. That group is the group of retirees born before 1997, but the next of the checks is for a different group.
Therefore, the beneficiaries who will receive the next Social Security benefit are those born between the 21st and 31st of the month. So if you have an accepted benefit and you were born between the first ten days of the month you can have your retirement pension check in just a few days. Otherwise, there is nothing to worry about, as you will still receive your check. The next collection day is today May 24th.
Another requirement is that you must have applied for retirement after 1997. This is essential, since pre-1997 retirees receive the benefit on a totally different day, as we have already mentioned above. As for the type of benefit, it is important to remember that it does not matter. It doesn’t matter if our check is for disability, age retirement or some other reason.
How to cash the pensioner’s check quickly?
When it comes to receiving a pension check, we have two options. From these two options we can choose the one we like the most. Regardless of which method we choose to receive the Social Security benefit, we will receive the money during the month. But one of these methods is much faster than the other.
The Social Security Administration sends out the check on the 3rd day or also on the 2nd, 3rd, or 4th Wednesday of the month. This depends on the group to which the retiree belongs, as previously discussed. However, the retiree does not have to receive the benefit on the same day. Remember that having a disability payment or age-based retirement does not matter.
In order to receive the check immediately, it is mandatory to activate Direct Deposit. Without this payment method, it is impossible to receive the payment so quickly. The other payment method is the classic bank deposit. This second method is slower as it can take up to 3 days for the money to appear in the bank account.