The United States Social Security Administration sends out retirement benefits to its beneficiaries every month. The monthly structure is always the same and there is a very basic rule for former workers to know if they will receive their payment this week.
The fundamental key is to know your date of birth. Depending on the day you were born you will be able to know if you will collect your Social Security benefit this week or not.
Therefore, the general rule is easy to find. In addition, every month of the year the structure is the same and we can have the calendar to remember it easily. On the other hand, SSI is different and we will always receive it on the 1st of each month, unless the day is a holiday or weekend. In that case, we will receive it the day before.
Read more: Social Security Administration announces benefits could last longer than estimated
When will I receive my benefit of up to $3,345 from Social Security?
To find out the exact date you simply need to know your date of birth. To collect Social Security on August 10, 2022, your birthday must be between the 11th and 20th of the month. This way, the SSA will send the money to your bank account on the same day. This is good news for those born around this time.
The individual maximum claim for full retirement age (FRA) is $ 3,345. This does not mean that no benefits less than these will be sent this week. All benefits, regardless of the dollar amount, will be shipped to their intended recipients this week. So, if your birthday is between the 11th and 20th of the month, be prepared to receive the monthly Social Security benefits.
What do I have to do to collect the retirement benefit?
You must first apply to the Social Security Administration. After receiving approval from the office, you will start collecting it every month without having to do anything else. It is a fully automatic system and you do not need to take any additional steps. You may have to wait more or less depending on the collection system you have.
Read more: The best southern city to live in with only $1,500 a month in Social Security
For the payment system, you can choose a bank account or Direct Express deposit. The advantage of Direct Express is that you don’t need a linked bank account and you get your money immediately. When it comes to a bank account, the money can be up to 3 days. If it doesn’t, contact your local Social Security office to see if an error has occurred.
Schedule of benefit payments in August 2022
On the other hand, we commented on the August 2022 Social Security benefit payment schedule:
- August 1: Supplemental Security Income (SSI) beneficiaries and Social Security benefits before May 1997.
- August 10: Beneficiaries born between August 1 and August 10
- August 17th: Beneficiaries born between the 11th and the 20th
- August 24th: Beneficiaries born between the 21st and the 31st
Therefore, if you are waiting for your payment to be paid, you can check this information to make sure you get it on time. In the event of delays or problems, please wait 3 days before filing a claim. If you have not received your Social Security benefit 3 days after the date indicated, go to a local office.