Social Security changed the date on which retirees get their checks this week – Here’s what will happen with your next paycheck

Amelia Ross
6 Min Read

If you haven’t received your retirement benefit payment yet, keep an eye on your bank account. The Social Security Administration (SSA) will send out the last payment of the month next week for those who meet the necessary requirements.

The SSA is responsible for distributing monthly benefits for four different financial and insurance programs in the United States. If you qualify for the retirement, survivor, and disability insurance (RSDI) program, it’s important to learn about the upcoming payment and the available check amounts you could receive soon.

Monthly Payments from Social Security

Payment Schedule

Every month, retired workers receive their benefits based on a schedule set by the Social Security Administration. This month, retirees born between the 11th and the 20th received their payments one day early because June 19th was a holiday.

The next monthly payment will be on the regular fourth Wednesday of the month for retirees who claimed benefits after May 1997 and were born between the 21st and the 31st. After these payments, the SSA will resume payments on July 3rd for retirees who claimed benefits before May 1997.

Upcoming Payment Dates

Based on the Social Security payment schedule, the last payment of the month will arrive on Wednesday, June 26th. Here’s the payment schedule for the next month:

  • July 1st: SSI payments are usually made on the first of each month. This month’s payment will be issued earlier because June 1st is a Saturday.
  • July 3rd: All seniors who retired before May 1997 will receive their pensions.
  • July 10th: Seniors who retired after May 1997, survivors of a retired senior, and seniors enrolled in the disabled insurance program who were born between the 1st and the 10th of the month.
  • July 17th: Seniors who retired after May 1997, survivors of a retired senior, and seniors enrolled in the disabled insurance program who were born between the 11th and the 20th of the month.
  • July 24th: Seniors who retired after May 1997, survivors of a retired senior, and seniors enrolled in the disabled insurance program who were born between the 21st and the 31st of the month.

Understanding Different Social Security Benefits

Retirement Benefits

This insurance program is a major focus for seniors because it is the result of their lifetime contributions to Social Security taxes. The amount seniors receive is determined by indexing and averaging the best 35 years of their working lifetime income, known as the Primary Insurance Amount (PIA).

On average, pensioners receive $1,900 a month. Depending on their retirement age and Social Security contributions, they may be eligible for the following maximum payments:

  • Before full retirement age (62): $2,710 per month
  • At full retirement age (67): $3,822 per month
  • After full retirement age (70) with maximum taxable earnings: $4,873 per month

Survivor Benefits

The SSA also provides monthly benefits to survivors, which are meant for qualifying spouses, children, or dependents of the deceased senior. On average, survivors receive $1,505, but there are other maximum benefits available:

  • Depending on the primary beneficiary’s working history and contributions: $1,773
  • If they have two children: $3,653

Social Security Disability Insurance (SSDI)

For those who have been certified as disabled or blind by a medical professional and unable to participate in any gainful activity for at least a year, and who have paid five years’ worth of Social Security taxes in the previous ten years, the SSA offers SSDI benefits. On average, disabled individuals receive $1,537 per month. Depending on the type of disability and contributions made before they became disabled, other maximum payments are available:

  • For blind beneficiaries: $2,590
  • Depending on their working history and contributions: $3,822

Frequently Asked Questions (FAQs)

1. When will I receive my next Social Security payment?

The next payment will be on Wednesday, June 26th. Check the payment schedule for specific dates based on your retirement status and birth date.

2. How are Social Security benefits calculated?

Benefits are calculated based on your indexed and averaged income over the best 35 years of your working life, known as the Primary Insurance Amount (PIA).

3. What are the maximum benefits I can receive?

Maximum benefits vary depending on when you claim them and your lifetime contributions. For example, the maximum monthly benefit for someone who claims at age 70 is $4,873.

4. Who qualifies for survivor benefits?

Qualifying spouses, children, or dependents of the deceased senior can receive survivor benefits.

5. What is SSDI, and who qualifies?

Social Security Disability Insurance (SSDI) is for individuals certified as disabled or blind and unable to work for at least a year. They must have paid five years’ worth of Social Security taxes in the previous ten years.

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