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Social Security payments on February 14: Who gets them and how much?
The SSA will continue to disburse Social Security payments next week. Here is who will receive their payment on Wednesday, 14 February?
In January, the average Social Security check received by retirees was $1,909.01 —4.4 percent higher than the figure was one year ago. The value of payments was boosted by the 3.2 percent Cost-of-living adjustment (COLA), as well as the higher average salaries of retirees who began claiming benefits over the last year. While the average payment is just over $1,900, most beneficiaries do not receive a check this size. In 2022, the median check size was $1,590, with only those in the highest quartile receiving payments over $1,900.
Who will be receiving a payment on 14 February?
Already this month, the Social Secuirty Adminstration (SSA) has delivered payments to:
- Supplemental Security Income (SSI)
- Those with have been receiving Social Security benefits since before May 1997
- Those who receive Social Security and Supplemental Security Income
The Social Security Adminstration will continue distributing payments on Wednesday, 14 February. Those with birthdays between the 1st and the 10th of any month. The two remaining payments that will be made after the 14th will be sent to those with birthdays between the 11th and 20th on Wednesday, 21 February, and those with birthdays between the 21st and the 31st on Wednesday, 28 February.
The SSA urges beneficiaries to use their online services to take control of their benefit.
The agency has recently published a blog emphasizing the significance of creating a my Social Security account, where you can view your monthly benefit statement. These accounts can be opened by both retirees and those who plan to claim benefits in the future. The portal permits you to estimate the value of your checks once you retire.