In just 16 days, eligible recipients of Additional Collateral Income will receive the first of two payments for the month of September, totaling $1,652.
The first qualifying payout, valued at $841, will be transferred on September 1, and the second payout of the same amount will be made at the end of the month. September is one of three months in which recipients receive two payments, the rest are April and December, according to the Social Security Administration.
Qualifying couples who qualify for the maximum amount of SSI will receive a payment of $1,261 on September 1 and 30, while the “Essential” will receive $421 on the same dates.
Social Security payments are likely to increase in 2023 due to rising inflation rates, according to analysts. However, some people may earn less than they currently do because higher payments put recipients in a higher tax bracket.
It is estimated that at the current rate, Social Security will be unable to be paid out in full by 2035 without action from Congress, according to a report from Nextstar Media Wire.
Social Security Benefits Schedule for August 2022
The calendar follows the same pattern as every month. You just need to know your day of birth and you can know perfectly when you will receive your retirement benefit from the Social Security Administration. The calendar is as follows:
August 1: SSA will send all SSI payments.
August 10: The Social Security Administration will send benefits to people born between the 1st and 10th of the month.
August 17: They will send payments to individuals born between the 11th and 20th of the month.
August 24: The Administration will send Social Security to people born between the 21st and 30th of the month.