Although the United States Social Security payment schedule is somewhat fixed, there are sometimes irregularities. And these irregularities prevent certain groups of beneficiaries from cashing all of their monthly checks. And the month of October is a month in which there is a very important irregularity.
This irregularity means that Supplemental Security Income and Social Security beneficiaries do not cash both checks within the month. While this is true, there will be retirees who do get checks within these days.
The key to knowing whether we will get our check immediately or whether it will take a little longer depends on the method of collection. If we choose the right collection method, we will be able to get our usual checks in September.
However, with a particular type of collection method, your Social Security Supplemental Security Income payment will not arrive in October, although this is not necessarily bad news.
WHO WILL GET A LOWER SOCIAL SECURITY PAYMENT IN OCTOBER?
The key to understanding this situation involves two elements. On the one hand, the types of checks we cash each month. On the other hand, the collection method we choose to collect those benefits.
First of all, we must have a Supplemental Security Income check activated. This will allow us to get two payments from Social Security every month. If we have this accepted we will be able to determine whether or not we will get two checks in October.
The other thing is the collection method, which makes whether we get the money instantly or not. The month of October has an irregularity in the calendar. This irregularity comes from the fact that the 1st of the month is a weekend. Since SSI is always the 1st of the month minus holidays or weekends, SSA will send it a few days earlier.
To be exact, the Administration will send out the October Supplemental Security Income check on the 29th of September. Retirees who have Direct Deposit activated will not be able to get SSI in October, as they will get it in September.
If we do not have Direct Deposit activated, the Social Security payment will arrive in October, as usual, although a few days later. It is possible that the payment may arrive as late as the 4th or 5th of this month, depending on the bank.
So now you can determine if you are among the group of beneficiaries who will get the October Supplemental Security Income benefit within a few days of the month or a little earlier.