Every month, beneficiaries who qualify to receive Social Security benefits are paid out by the Administration every month. Approximately 70 million individuals are supported by Social Security, with the large majority of these individuals being retirees. The Administration also supports those who have a disability which renders them unable to work as well as those who have little to no income or resources. Tomorrow, certain beneficiaries will receive their payments tomorrow, with the average payment amounting to just under $2,000.
Social Security supports millions each month
The Social Security Administration adheres to a strict schedule every month in order to ensure that payments are sent in a timely manner to all their beneficiaries. Your payment amount will differ from other beneficiaries depending on a variety of factors, such as which fund you receive benefits from, when you claimed your benefits, your income level, and your working credits history,
Generally, the Social Security Administration follows the following schedule for when payments are sent to beneficiaries throughout the month:
- The second Wednesday of the month: Birth dates between the first and the 10th of the month.
- The third Wednesday of the month: Birth dates between the 11th and 20th of the month.
- The fourth Wednesday of the month: Birth dates between the 21st and 31st of the month.
However, your payment schedule is different if you are a Supplementary Security Income (SSI) beneficiary or claimed your benefits before May 1997. If you only receive SSI, a fund which supports individuals with little to no income or resources, you are paid on the first of every month. If you receive both SSI and retirement benefits, you are paid on the third of each month. Additionally, beneficiaries who claimed their retirement benefits before May 1997 are also paid on the third of every month.
Check if you qualify to receive $1,952 tomorrow
According to the Social Security payment schedule, tomorrow’s payment is set to go off for those retirement beneficiaries who have a birthdate between the first and tenth of the month. Looking at the Social Security monthly statistical snapshot, the average retirement payment amount to $1,952. However, certain beneficiaries are entitled to receive the maximum Social Security payment which amounts to $5,102.
In order to receive the maximum payment, you need to ensure that you have met specific eligibility criteria. This includes ensuring you have a working history of at least 35 years which you paid Social Security taxes on; earned at least 40 working credits from the Administration; and waited to delay claiming your benefits until you were 70 years old. The earliest age you can claim retirement benefits from the Administration is 62 years old, however, you are rewarded with higher benefits from the Administration if you wait to claim. However, choosing to wait to claim past 70 years old serves no additional benefit for you.
Two payments for beneficiaries this month
While the Social Security Administration rarely deviates from their planned monthly payment schedule, payment dates are moved if the anticipated date falls on a weekend or public holiday. This month, SSI-only beneficiaries will receive an additional payment on August 29. However, beneficiaries are reminded that this payment is not a ‘bonus’ payment but is actually an advanced on their September payment.
September 1 is Labor Day, meaning that the Administration advances the September payment for beneficiaries. This means that SSI-only beneficiaries will not be paid in September and will see their regular payment schedule be implemented from October. However, the same advance will be done for SSI-only beneficiaries in October, whereby the November payment for these will be paid on October 31 as November 1 this year falls on a Saturday, meaning the payment must be advanced.
Disclaimer: This content is informational only and does not supersede or replace the SSA’s or IRS’s own publications and notices. Always verify any specific dates and amounts by following the direct links in our article to SSA.gov or IRS.gov, or by consulting your local SSA field office or tax professional.
