The United States Social Security Administration already has the schedule of benefit payments for August 2022. It doesn’t matter if your benefit is for retirement, disability or some other reason. The date is now set and you can find out when the Social Security Administration will send you the money. The formula to know directly your payment date is obtained through your date of birth, so you do not need any extra data.
In addition to all this, the great advantage is that every month the formula is repeated. But the days are not exactly the same. If you are expecting to collect a retirement benefit, try to meet the requirements so as not to miss payments. The same goes for disability benefits. Keep a close eye on the dates so that nothing escapes your control and you have a good grasp on Social Security benefits.
When will I collect my August 2022 Social Security benefit?
The calendar is very simple to follow and you only need to know your date of birth to know when you will collect. Let’s look at the exact days:
- Supplemental Security Income (SSI): on August 1, the Social Security Administration will send this financial benefit.
- Retirement, disability, etc. benefits:
- 2nd Wednesday of the month: The Social Security Administration will send the benefit on August 10 to persons born between the 1st and 10th of the month.
- 3rd Wednesday of the month: On August 17, the SSA will send payments to persons born between the 11th and 20th of the month.
- 4th Wednesday of the month: On August 24, the Social Security Administration will send money to people born between the 21st and 30th of the month.
You may not receive the money on the same day. It may take up to 3 days to reach your bank account. If not, you can contact the Social Security Administration or your bank to find out why you have not received your benefit money.
Is SSA giving extra money this month 2022?
Every year the COLA increases Social Security benefit payments. Through this method, retirees do not lose purchasing power. But this increase is annual, so you will not receive an increase in your benefit every month. In August 2022 you will not receive extra money, but your usual monthly benefit.
To get an increase in your benefit you will have to wait until next year 2023. From January onwards, the monthly amount of money that the Social Security will send you will automatically increase. For the time being, the only thing you can do is try not to let inflation affect you too much or try to improve your benefit for the future.