In any of the United States, the timing of Social Security payments always follows the same pattern. This is a tremendous help to all retirees, whether it is disability or retirement age. Controlling every aspect of income in the golden years is critical to having the best possible retirement years. Likewise, disabled users can also have this control to avoid all kinds of financial problems.
Also, to find out if the Social Security Administration will send your benefit check today, all you need to know is your birthday. The SSA will send the payment in the month of December on three different days and today is the first of these payments. On one hand, today’s payment will be for disability or age-based retirees born between the 1st and 10th of a month.
Likewise, there are two other payment days for Social Security users. On the 21st and 28th of August, users of the other two groups will have their benefits in their pockets. These two groups are divided between those born between the 11th and 20th and retirees with birthdays between the 21st and 31st. Thanks to knowing this calendar, any type of financial movement is much easier to carry out.
Upcoming Social Security Payments
These aforementioned payments are the last ones from the Social Security Administration that pertain to the year 2022. However, there is still one more payment that will be sent out this month even though it does not pertain to 2022. The January 2023 Supplemental Security Income payment will arrive before the start of next year.
The reason for this change in the payment date is nothing more than a timing irregularity. Social Security Supplemental Security Income is always sent on the 1st of each month, but this is not the case for months when that day is a holiday or weekend. Since January 1 is a holiday and also a Sunday, payment is made on the immediately preceding business day.
COLA in 2023
The COLA will take effect as of January 2023. The increase will be 8.7% in the next year. This means that benefits will increase sharply for retirees and disabled users. Thus, an average benefit of $1,666 will go up to $1810 per month.
Despite this huge increase, the truth is that the intention of the Social Security increase through the COLA is so that retirees do not lose purchasing power. The main objective is not to make them richer, but to maintain their economic level in order to combat inflation.
You don’t need to do anything to get the COLA. The increase in Social Security checks is automatic and you will receive thisextra money without having to apply for it.