However, subsidy payments are never delayed. It is very unusual for the SSA to send a payment late. Therefore, you can expect your subsidy money on time. The next payment day is September 21. When all September Social Security paymentsare made is easy to remember because they are always on Wednesdays.
Second Wednesday of the month: September 14. This day is for payment to people born between the 1st and 10th of the month.
Third Wednesday of the month: September 21. The Social Security Administration sends payment to persons born between the 11th and 20th.
Fourth Wednesday of the month: September 28th. 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.
The COLA in 2023
The increase in Social Security in 2023 will be around 10%. We don’t know the exact number yet, but we’re close to knowing. In October, the government will announce 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. Although we still have to wait to know the Social Security increase in 2023, therefore, it is too early to calculate how much extra moneyyou will earn in 2023, although all indications are that around 10% will be added to your benefit. Even so, it is quite possible that the purchasing power of retirees will continue to decline due to inflation in 2023.