The Supplemental Security Income (SSI) payments usually go out on the first of each month, unless the day falls on a holiday or weekend. In such cases, recipients receive their payments on the earliest business day before the first of the month. That’s why the SSI recipients are expecting their July 2023 payments by the end of June.
The Social Security Administration has established a payment schedule for SSI benefits to ensure timely and organized disbursement. This schedule helps recipients plan their finances accordingly and anticipate when they will receive their next payment.
Will I get a payment also in July? The date when the next check will arrive
As we have said, the July payment of your SSI will arrive at the end of June, so in the month of July you will not receive an additional payment. As it is, the next check will arrive on August 1st, and the next one after that on September 1st.
Here again there is another month in which you are going to receive two payments in one month: in September you are going to receive a second payment on September 29, corresponding to the October payment. This is because October 1st is a Sunday. To finish with the 2023 calendar, you will have one payment on November 1st and one on December 1st.
What to do if you don’t receive your SSI benefits on the scheduled date
There may be several factors by which an SSI benefits payment may be delayed. To determine what happened, let’s check a few things first. Make sure you have accurately determined the payment date for your SSI benefits. You can check the payment schedule provided by the Social Security Administration (SSA) to verify the expected date.
If everything in the schedule looks good, wait a few days: Sometimes, delays in processing or transfer can occur, leading to a slight delay in receiving your benefits. Give it a few additional days to see if the payment arrives. If you’re still waiting, contact your bank or financial institution, if you get your benefits directly deposited in your account. They can provide information about any problems with the deposit or any holds on the funds.
If you still have no answers, don’t hesitate to call the SSA. Dial 1-800-772-1213 and speak to a representative. Be prepared to provide your Social Security number, full name, address, and any additional relevant information they may require. This will help them locate your records and address your concerns effectively. Your local Social Security office is also ready to welcome you and help you out.
How can I verify the expected date of my SSI benefit payment?
If you are receiving Social Security benefits, determine your payment date based on your birth date:
- If your birthday is between the 1st and the 10th of the month, you will receive your payment on the second Wednesday of each month.
- If your birthday is between the 11th and the 20th of the month, you will receive your payment on the third Wednesday of each month.
- If your birthday is between the 21st and the 31st of the month, you will receive your payment on the fourth Wednesday of each month.
You could expect up to $1,371 in August
As you already know, the calendar is well adjusted so that the beneficiaries receive a total of 12 checks per year, with the particularities of those months in which the respective payment, or it is advanced because the month’s payday falls on a non-working day. This means that there are months when two checks are received and months when there are none. Since the July payment arrived at the end of June, the next one will arrive on August 1, 2023.
When an individual files for SSI benefits, they are eligible to receive a maximum monthly payment of $914. Now, for eligible couples who file jointly for SSI benefits, the maximum monthly payment is higher than that for individuals. Joint filers can get as high as $1,371. This increase acknowledges the shared expenses and financial responsibilities that couples typically have, allowing for a higher payment amount to meet their needs adequately. The last group are the essential persons, individuals who live with and provide necessary care to SSI recipients. They can be family members, friends, or other individuals who contribute to the well-being and daily functioning of the beneficiary. For these personnel, the payment is up to $458.
The COLA is dropping in 2024: Will I get smaller benefits checks?
Currently, the 2023 Cost of Living Adjustment (COLA) is 8.7% which is the highest in more than 40 years, and that pushed up the payments you and other beneficiaries receive all over the United States. But your check could be shrinking next year because the COLA is set to be reduced.
The Senior Citizens League is projecting a significant decrease in the COLA for fiscal year 2024. This projection is based on the 12-month average rate for CPI-W, which has been consistently declining. According to a recent report from the U.S. Bureau of Labor Statistics, the overall inflation rate rose by 6% over the 12 months ending in February 2023. This marked the smallest increase in a 12-month period since September 2021.
Based on February inflation data, the COLA for 2024 looks like it will be under the 3% umbral, and could fall into the 2% or even lower range by the third quarter if that 12-month average continues to decrement.
Despite the term “Cost-of-Living Adjustment,” a decrease in the COLA does not lead to a reduction in current benefit amounts. Once established, these benefit amounts remain fixed, except for annual COLA adjustments.
Why is my SSI payment delayed?
There are several factors that can contribute to payment delays for individuals receiving SSI benefits. One such factor is a change in banking information. If you’ve recently changed your bank account details and fail to notify the SSA, it can result in delays in receiving your SSI payment. To avoid payment problems in the future, hurry up to inform the SSA as soon as possible, typically through the local Social Security office.
Similarly, a change in address can also lead to payment delays. Even if individuals are scheduled for direct deposit, a mismatch of information could cause issues. Once again, inform the authorities now if you’ve recently changed your residential address.
Delays in payment can also occur due to issues at the SSA office responsible for handling the payments, and that you can’t do anything about so far. Various reasons can contribute to these delays, including staff shortages during holidays or special situations. But, don’t worry: these delays are temporary, and your check will arrive, no matter what.