What day will Social Security checks be deposited in August?
Social Security payments provide crucial financial support, particularly for the retirement years. Here’s when recipients can expect their August checks.
Social Security payments provide important financial support to individuals and families, particularly when they reach their retirement years. These checks serve as a significant source of income for many retired individuals, providing a steady monthly payment, offering a degree of financial stability, and helping to cover basic living expenses.
Aside from retirees, the Social Security Administration also sends benefits to survivors and those with a disability.
Social Security check delivery schedule
Although the SSA issues checks monthly, the exact date of delivery depends on the day of birth of the beneficiaries. Those who were born between the 1st and 10th receive the money on the second Wednesday of the month, while those whose birthdays fall between the 11th and the 21st get them on the third Wednesday. Those whose birthdays are from the 21st to 31st get theirs on the last Wednesday of the month.
Supplemental Security Income schedule
The beneficiaries of Supplemental Security Income do not fall into the previous payment schedule since they receive the money during the first day of the month, regardless of their date of birth.
Workers who retired before 1997 also do not fall into the previous payment schedule, since they receive their monthly check on the first Wednesday of the month regardless of their day of birth.
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Social Security checks in August 2023: When will they arrive and due dates
Now that you know the general payment schedule, here is the check distribution timetable for August 2023, according to the Social Security Administration:
August 1: SSI Recipients
August 3: Payees who began receiving their payments before May 1997
August 9: Beneficiaries born between August 1 and 10
August 16: Recipients born between 11 and 20
August 23: Beneficiaries born between 21 and 31
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Social Security: Benefit amounts
The amount for retired workers depends on the situation of each person. However, the monthly average is $1,801, according to SSA calculations, with the possibility of collecting up to $4,555 as a maximum benefit for the year 2023.
For SSI recipients, the average monthly payment is $650, with the possibility of receiving up to $914 as a maximum benefit for one person and up to $1,371 for couples who they make their statement together.