EXPERTS estimate that the cost of living adjustment for Social Security payments could range from 9.3 percent to as much as 10.1 percent in 2023. This will leave an additional $159 in the pockets of millions of eligible Americans.
Another round of cost of living verification for eligible Americans will be circulated by the Social Security Administration (SSA) in the coming days.
Next week, Americans will receive final direct payments that are worth up to $4,194. Your date of birth will determine when you will receive benefits. For example, your payment will be made on the second Wednesday of every month if your birthday falls between one and ten.
Your money will be deposited on the third Wednesday of the month if your birthday falls between the 11th and 20th day.
The fourth Wednesday of the month will be the payment date if your birthday is between the ages of 21 and 31. The last check of the month is October 26th.
Remaining schedule of Social Security Payments
In the following months of the year the mechanics are the same and you will be paid on the second, third or fourth Wednesday of each month depending on your date of birth. Here is the complete list of Social Security payments for the next months.
October 2022
- Second Wednesday of the month, October 12: People born between the 1st and 10th of the month collect Social Security.
- Third Wednesday of the month, October 19: Individuals born between the 11th and 21st of the month will collect their benefit.
- Fourth Wednesday of the month, October 26: On this day, people born between the 21st and 31st of the month receive their benefits.
Don’t forget that if you do not receive your automatic Social Security payment, you should go to a local office for benefit assistance. But before that you must wait three days from the day of payment.