Every month, the Social Security Administration (SSA) distributes millions of checks to its recipients. Many of these individuals depend on these payments as their primary, if not only, source of income. Consequently, retirees and other individuals receiving Social Security benefits are especially vulnerable to fluctuations in prices and cost-of-living adjustments, as well as any modifications to their incoming funds. This month, however, there is positive news for two specific groups of SSA recipients who will experience an increase in their payments.
SSA Payment Schedule
The SSA adheres to a strict monthly payment schedule that it seldom alters, allowing beneficiaries to accurately plan and budget their monthly expenditures. Typically, the distribution of retirement and Disability payments occurs as follows:
- Wednesday, June 11: Birth dates from the 1st to the 10th of the month.
- Wednesday, June 18: Birth dates from the 11th to the 20th of the month.
- Wednesday, June 25: Birth dates from the 21st to the 31st of the month.
For those who started receiving their Social Security benefits before May 1997, payments are issued on the third of each month. If you receive Supplementary Security Income (SSI) along with retirement benefits, these are also paid on the third. Those who only receive SSI will find that their payments are disbursed on the first of each month.
Last month, recipients of SSI might have noticed receiving two payments: one on the expected date of May 1 and another on May 30. This additional payment was actually the June 1 payment, issued early because June 1 fell on a weekend. This same adjustment was made for veterans receiving compensation for service-related disabilities from the US Department of Veteran Affairs, as their payments are also scheduled for the first of each month.
Higher Payments for Certain Groups This Month
This month, certain SSA beneficiaries might observe an increase in their payments. Typically, Social Security benefits only rise annually with the Social Security COLA (cost-of-living adjustment). This adjustment, meant to keep pace with inflation, was set at 2.5% this year.
