Every month, the Social Security Administration (SSA) distributes millions of payments to retirees, survivors, and people with disabilities. These payments are crucial for many who rely on them for financial support.
How Social Security Payments Are Scheduled
The timing of payments depends on your birth date:
- If you were born between the 1st and 10th of the month, you’ll get paid on the second Wednesday.
- Born between the 11th and 20th? Your payment comes on the third Wednesday.
- For those born from the 21st to the 31st, payments are on the fourth Wednesday.
Some exceptions exist: retirees before May 1997, retirees abroad, and SSI recipients get paid on the 1st of each month, regardless of birth date. If you receive both SSI and regular Social Security, SSI is prioritized on the 1st.
Special Circumstances
Payments are adjusted if the regular payment day falls on a weekend or holiday. They’re sent out the business day before.
July 2024 Payment Schedule
- July 1: SSI, retirees before May 1997, and those abroad.
- July 3: Retirees before May 1997 receiving SSI.
- July 10: Birthdays from the 1st to the 10th.
- July 17: Birthdays from the 11th to the 20th.
- July 24: Birthdays from the 21st to the 31st.
How Much Will You Receive?
Social Security payments vary widely:
- Average retired worker: $1,907/month.
- Couples filing jointly: $3,303/month.
- Maximum benefit at full retirement age: $3,822 to $4,873/month.
More Information
Visit the SSA website for personalized benefit details and use their calculator to estimate your payments based on your situation.
FAQs about Social Security Payments:
What if my payment date falls on a weekend or holiday?
Payments are made the business day before.
How are Social Security payments calculated?
Based on your earnings history, adjusted for inflation.
Can I receive benefits if I’m disabled but haven’t reached retirement age?
Yes, SSDI provides benefits for disabled individuals.
Are Social Security payments taxable?
Yes, depending on your total income.
What if I need help understanding my benefits?
The SSA website offers detailed resources and a benefit calculator.