The list of Social Security beneficiaries in the states of the United States is very large. More and more retirees are drawing their pensions on a monthly basis. Thanks to these financial benefits from the Social Security Administration, a large part of those who are retired due to age and disability can afford the monthly payments for bills, rent and other expenses.
The great thing about this Social Security system is that not only can we know how much money we will receive as retirees. But we also can know what day we will receive it. With this very accurate Social Security Administration schedule, financial organization in U.S. families is much easier and simpler to accomplish.
The average benefit for pensioners in the United States is $1,666 per person. On the other hand, the maximum pension is $4,194. This is only for age pensioners. In case of disability, the figure is not as high. Also, this number is for the year 2022, since in the year 2023 the figure will increase due to the COLA.
Who gets the next $1,666 in Social Security?
The Social Security Administration sends payments in a staggered schedule. These payments are made in three distinct phases. Each of these phases is targeted at a specific group of people. Therefore, knowing when you will receive your SSA payment is as easy as knowing your birthday. The next payment will be on the 12th of October and is for everyone born between the 1st and 10th of the month.
As for the amount, $1,666 is the average currently in 2022. You may receive more money or a lower amount. At the moment, the amount of the checks has not increased, but it will increase by the next year 2023. In October the Social Security will announce the exact amount by which the pension checks will increase, although it is expected to reach almost 10%.
When do the rest of the groups receive their pensions?
If your birthday is not between the 1st and 10th of the month, you will still be able to collect Social Security in October, although later. The other October payment days are:
- Third Wednesday of the month: 19th October. People with birthdays between the 11th and 20th will receive their benefit on this day.
- Fourth Wednesday of the month: October 26th. People born between the 21st and 31st of the month will have their Social Security in their bank account on this day.
In addition, there is also a Supplemental Security Income (SSI) payment. Although in October the SSA does not send this payment because the 1st of the month was a weekend. Don’t forget to activate Direct Deposit if you want to have the benefit money immediately, otherwise, it may take up to 3 days to be available.