To know the Social Security Administration’s payment schedule, you don’t need to be very knowledgeable about the subject. Any citizen can find out on what day a retiree receives his or her disability or old-age retirement benefit. It is very easy to know this information, since only one requirement is necessary to do so.
In this regard, during the days of this very week retirees will receive a new check. The Social Security Administration is sending it today to their beneficiaries. But not all retirees will have that amount of money, since the payment is only for retirees who meet a specific requirement.
And it is not necessary to think that the retiree has to have his or her check for a specific reason. That is, it is not necessary to have an age or disability retirement to belong to the next of the retiree groups. The requirement does not have to do with this, but with the pensioner’s date of birth.
What requirements do I have to meet to receive a retirement pension this week?
Social Security beneficiaries who have their birthday between the 21st and 31st of the month are the ones who receive this benefit. So if your birthday is not between those two days you will not be able to receive the check soon, but will have to wait until April to receive it.
In this way, it does not matter the type of retirement, as we have already commented before. The one and only requirement to get a check this week is to have your birthday between the 21st and 31st of the month.
When does Social Security send the new retirement payment?
The retirement payment mailing day is today, March 22, but that doesn’t mean retirees will get their check today. In order to receive a check on the same day as the payment, beneficiaries have to meet an extra requirement. This requirement has nothing to do with the birthday, but with the method of collection.
In order to receive this week’s benefit immediately, Direct Deposit must be activated. This method of payment is fast, immediate and efficient. As soon as the Administration sends the money, we will receive it directly to be able to enjoy it and use it for whatever we need.
If we receive the money by bank deposit, the Social Security check may take about 3 days to arrive definitively. So by activating Direct Deposit we shorten the waiting time for retirement checks.
Upcoming Social Security payments
Even though we are in the last week of March, there is still one more Social Security payment. Next March 31st the Administration will pay Supplemental Security Income check. Not all SSA recipients receive this benefit, so not all pensioners can expect to receive it.
After this payment we will have to wait until April to receive the next check. Social Security will send out retirement pension payments on the 12th, 19th, and 26th of April. On each of these days, the beneficiaries in each group will receive their money.
How to increase the pension benefit?
To increase our monthly Social Security check, we must plan our retirement well in advance. Social Security benefits depend on our work history, so we must take this into account in order to organize our golden years.
Working for 35 years with a good salary and delaying retirement age are the key elements to have a good check. Also, it is important to keep in mind that receiving the maximum amount of $4,555 per month in 2023 is really hard to achieve.
However, an average check of around $1,650 per month may be more than enough to live well in the United States. Moreover, the situation can be even better if we take into account that we could also save during our working years, thus having more money for retirement.