The Social Security Administration has announced that millions of people will soon see big changes in how much money they get from Social Security. Because of a mistake in the calendar, millions of people who get Social Security will not get their payouts this month.
In particular, people who get Supplemental Security Income (SSI) will not get any money in September because checks are sent out on the first of every month.
On the other hand, people who were supposed to get money got it early—on August 30—since September 1 was a Sunday. Also, it’s important to know that SSI recipients will still get their payments until October 1st, even though there are big changes coming.
A major change in Social Security payments was confirmed
People who get benefits are naturally scared when their planned payments are messed up. But Alex Beene, a teacher of financial literacy at the University of Tennessee at Martin, told Newsweek that this particular messup is pretty minor and has more to do with the calendar.
He also made it clear that SSI users will not receive a check in September because the next payment is not due until October 1. However, the amount of money they receive will not change.
For more than 7 million people, the Supplemental Security Income (SSI) program is one of the most important ways to get money. They depend on these Social Security checks to pay their bills and, in some cases, fight poverty.
Even though these changes have been made to SSI benefits, people who are retired, widowed, or disabled will still get their normal Social Security payments on the second, third, and fourth Wednesdays of each month.
The Social Security payout schedule says that these people will get their payments based on the day they were born. This means that people born between January 1st and October 10th get their Social Security checks on September 11th.
The checks go to people born between September 11th and September 20th. The checks go to people born between September 21st and September 31st.
Finance expert and founder and CEO of 9i Capital Group Kevin Thompson says that this change in the schedule is just a bug in the system and shouldn’t cost recipients anything. Thompson also told Newsweek that whenever this happens, people who get SSI will get a payment that was expected.
This means that some months, like August, people will get two SSI payments. This will also happen in November and December, since those months’ payment dates fall on weekends and holidays, along with August.
Are there other changes in Social Security payments that beneficiaries should be aware of this year?
It’s possible that other changes could have an effect on your Social Security income. The answer is yes. Aside from the date of the payment schedule, the federal agency said last week that more than thirty forms linked to benefit applications would no longer need to be signed in person.
Instead, computer signatures will be accepted on these forms, and 13 forms will no longer need any signatures at all. Thompson stated that the SSA is putting digital security into its work in order to speed up processing times and automate tasks that were already automated.
In the past, 90% of the most common forms used in field offices were ones that needed to be signed in person. Every year, about 14 million forms are sent in with their signatures.
Also, Social Security Commissioner Martin O’Malley recently said that they will be getting rid of as many headaches as possible from the most common forms that Americans use. For example, they will make it possible to sign documents with just a click of a button and reduce the need to mail or drive things in.
This means faster handling with fewer mistakes and better service for people who get Social Security. They deserve a government that meets their needs quickly and correctly.
Also See:- Social Security says there will be a big change to November payments: It’s official