Citizens of the United States can now view the complete schedule of Social Security payments for January 2023. Knowing all the details of the dates on which the Social Security Administration will send payments in the first month of 2023 is a great advantage for retirees. This helps organize household finances, as beneficiaries can have control over the money they receive.
Retirees with an accepted benefit will receive their check in the second, third or fourth week of January 2023. This means that the days on which the Social Security Administration pays retirement checks are the 11th, 18th and 25th of the first month of the year. The exact day on which each retiree collects his or her benefit will depend on the date of birth of each retiree.
Thus, retirees are divided into three different groups. The Social Security Administration pays benefits to these groups on one of the above-mentioned days. The groups are divided among those born between the 1st and 10th, 11th and 20th, and 21st and 31st. With these three groups in mind it is easy to know when seniors can receive their retirement or disability benefit.
Each retiree always receives his or her benefit on the pre-established date. If a retiree has not yet had his or her benefit accepted, he or she will have to wait until the following month to cash the check.
Social Security payment schedule for January 2023
So, next week a group of retirees will receive their first check with the COLA 2023 increase. This stimulus to the Social Security check is good for fighting inflation and not losing purchasing power. To find out exactly which days we will collect the benefit, it is best to follow the calendar below.
Retirees born between the 1st and 10th of the month. January 11th. This is the second Wednesday of the month. Social Security will pay on this day. However, it does not mean that the retiree will receive the money immediately.
Pensioners with birthdays between the 11th and 20th of the month. January 18th, the third Wednesday of the month.
Seniors with birthdays between the 21st and 31st of the month. January 25th, fourth Wednesday of the month. Last Social Security payment in January 2023.
The date of the birthday is key in determining the day of the Social Security payment, but only the number of the day matters. Therefore, the month in which the retiree was born does not matter. All retirees collect the benefit every month, regardless of their month of birth.
The next of the payments is precisely today, as retirees receive the new Social Security check within hours. But only retirees born between the 11th and 20th of any given month can have access to this check.
Collecting the retirement benefit on time
The best way to collect your Social Security benefit as soon as possible is to use Direct Deposit. It is a fast and immediate method. It is not mandatory to have this payment method activated in order to receive the money from Social Security, but it is recommended because of its speed.
In addition to this collection method, the SSA can send the money to the user’s bank account. Choosing this collection method is also a good idea, but it can take up to 3 days for the money to arrive in the senior’s pocket. In many cases it is necessary to have a little patience when it comes to cashing this new check. The important thing is to have enough savings to live on in case you run into problems with your social security payments.
Remember that it doesn’t matter which cashing method you choose, since both are totally valid for cashing the retirement check. The only major difference is that with Direct Deposit you will receive the money sooner, but you will still receive it by bank deposit.