The United States Social Security Administration’s calendar always follows the same pattern for all payments. At the beginning of the year, it is possible to know when Social Security sends retirement and disability payments. Because of this, financial stability for many American families is possible. There are many people who need nothing more than their retirement benefit.
However, subsidy payments are never delayed. It is very rare that the SSA sends a late payment. Therefore, you can expect donation money on time. The next payday is December 14. It’s easy to remember when all December Social Security payments are made, as they are always on Wednesdays.
It is a great advantage for the organization and family planning to know directly the day on which we will receive the retirement benefit. We can know the Social Security calendar effectively through the Administration’s own webiste.
All December Social Security payments
It doesn’t matter if your Social Security benefit is a retirement or a disability. What really matters is your date of birth. Your birthday determines when you will receive benefits. The second, third and fourth Wednesdays are the days selected for sending the benefit checks.
Second Wednesday of the month: December 14. This day is for payment to people born between the 1st and 10th of the month.
Third Wednesday of the month: December 21. The Social Security Administration sends payments to persons born between the 11th and 20th.
Fourth Wednesday of the month: December 28. Persons with benefits born between the 21st and 31st of the month will receive their subsidy on this day.
The maximum retirement benefit payment is $4,194 in 2022. If we talk about the disability benefit, the Social Security Administration pays a maximum of $3,011 in this year 2022.
In this regard it should be noted that by next year 2023 this maximum payment for disability benefit will increase. However, until January of next year we will not see this increase in any of the Social Security payments.
This increase in Social Security benefitswill affect all pension and Supplemental Security Income checks. Thus, retirees will enjoy a little extra money every month.
Despite this, it is important to remember that the COLA is not an increase for retirees to achieve wealth. The real objective is for them not to lose purchasing power.
The COLA in 2023
The increase in Social Security in 2023 will be 8,7%. We already know the exact number. In October 13th, the government announced the percentage increase in pensions. In addition to these checks, COLA also affects other SSA payments such as SSI.
The increase is based on the increase in CPI-W in the third quarter of the month. This means that the months of July, August, and September are crucial for determining the COLA. We know the Social Security increase in 2023, so you already can calculate how much extra money you will earn in 2023. You will get 8,7% extra to your benefit. Even so, it is quite possible that the purchasing power of retirees will continue to decline due to inflation in 2023.
In addition to Social Security benefit payments, other payments such as Supplemental Security Income will also increase. As a result, retirees will maintain their purchasing power in these difficult times of inflation. This is the best way for all retirees and people with disabilities to fight against this constant price increase. As we said before.