The Social Security Administration will be sending new checks to retirees in the United States in May. Receiving one of these checks is critical for many of these beneficiaries. Some of them have no other source of income, so it is normal for them to want to know on what day they will receive their pension. However, we can only know the exact day on which Social Security sends the pension. It is not possible to know directly the day of collection, unless we activate a specific option.
In addition to this, knowing the timing of the payments perfectly is essential. If we combine these two elements, we will be able to organize our monthly finances well. But we must not forget to activate a specific option of the collection in order to have the check as soon as possible. Thanks to this way of collecting the Social Security retirement, we will be able to have the money as soon as the Administration sends it.
Otherwise it is possible that we will receive the check much later. This guarantees us absolute control over the economy of our retirement years. So we should leave nothing to chance if we want to enjoy our golden years to perfection.
How to cash your retirement check faster?
The option we must activate in order to cash your retirement check as soon as possible is Direct Deposit. Thanks to this collection method, any Social Security beneficiary can receive his or her check immediately.
And it is not only the retirement checks that arrive by this method. In addition to these payments, other checks such as Supplemental Security Income also arrive instantly. Even other federal payments such as the IRS Tax Refund can arrive automatically if you have Direct Deposit activated.
If you do not have this option activated, it may take up to 3 days for the money to arrive in your pocket. However, it may take even longer, since it does not depend directly on the Social Security Administration.
When will I receive my Social Security in May?
Depending on the type of benefit you receive, you may be able to collect on one day or another. These are the days when the Social Security Administration will send out retirement payments and other checks in May:
- Supplemental Security Income payment. May 1st.
- Retirement for pre-1997 Social Security beneficiaries. May 3.
- Check for post-1997 retirees with birthdays between the 1st and 10th of the month. May 10th.
- Social Security for beneficiaries with birthdays between the 11th and 20th of the month. Must be post-1997 retirees. May 17th.
- Any retiree after 1997 with birthdays between the 21st and 31st of the month. May 24th.
With Direct Deposit activated we won’t have to wait a day. These are the payment days, but not the days we will receive the money. It all depends on our activated payment method.