The Social Security Administration (SSA) has confirmed that the last payment for this month has been sent. This means that some retirees, widows, and disabled people still haven’t received their payment. If you lived between May 21 and May 31 of any given year and applied for benefits after May 1997, there is good news for you.
These people will get their last Social Security check of the month next week, on September 25th. Don’t forget that you have to wait at least three mailing days before calling the SSA’s customer service if your payment doesn’t come on time.
The last Social Security payment for September has been confirmed for next week
Social Security gives monthly payments to more than 70 million people, and almost 64 million of those people are eligible for the retirement program. The Social Security Administration (SSA) says that most beneficiaries depend on their payments to meet their basic needs.
So, people who are retiring need to make a budget and include all of their expected retirement costs to make sure they have enough money each month.
If a retired worker claims benefits at age 70 and makes the highest taxable wage, they can get a monthly check of up to $4,873. If they don’t meet these requirements, they can usually expect a check of up to $1,900.
People over 65 who are eligible for Social Security get 50% to 90% of their monthly income. This helps them make bills and make sure they have enough money. Most seniors can’t get benefits because they haven’t worked 40 credits or paid into the system for ten years.
Benefits come from Social Security taxes that are taken out of their pay. Younger people who haven’t worked much may be able to get survivorship or disability payments.
The Social Security Administration helps retired workers in the United States and also gives benefits to about 3.8 million people through the Social Security Disability Insurance (SSDI) program.
Disability funds from Social Security Disability Insurance (SSDI) make up at least half of the monthly income for 71% of disabled workers. Most people who get SSDI would have a hard time paying their bills without this payment.
Also, SSDI recipients rarely return to the same level of living they had before they got disabled because they have limited income sources and few payments to recover lost wages.
Americans who are disabled can get an average of $1,537 a month, and people who paid into Social Security based on their highest taxed income before they got disabled can get up to $3,822. Additionally, people who are blind and qualified for benefits can receive up to $2,590 each month.
When do retired workers and disabled people receive their Social Security benefits?
If a retired worker or disabled person claimed benefits before May 1997, they will always get their payments on the third day of every month, according to the Social Security payment schedule for this year. If they claimed benefits after May 1997, they will get their payments based on the following conditions:
- On the 2nd Wednesday of the month, benefits are sent to beneficiaries who were born between the 1st and the 10th
- On the 3rd Wednesday of the month, benefits are sent to beneficiaries who were born between the 11th and the 20th
- On the 4th Wednesday of the month, benefits are sent to beneficiaries who were born between the 21st and the 31st
Keep in mind that the cost of living adjustment (COLA) boost is always part of your Social Security income. The current COLA rate is 3.2%, but that will change in October.
The most recent predictions say that the next COLA rise could be around 2.5%, which is a lot less than the official percentage. Because of this, all beneficiaries need to know about COLA changes because they have a direct effect on their monthly income.
Also See:- Social Security announces October payments with September changes: 1 new payment date