MILLIONS of Americans will be collecting their Social Security checks in April, here’s a breakdown of when to collect your money.
Budgeting for retirement is necessary.
And keeping track of your Social Security benefits may seem like a full-time job.
As the Cost of Living Adjustment (COLA) increased this year, many retirees have been able to improve their budgets as COLA increased the average total benefit to about $1,657 per month for single retirees and $2,753 per month for couples.
The average disability benefit has increased to $1,358 per month, and disabled workers with a spouse and one or more children now receive about $2,383 per month.
Widows and widowers now receive an average of $1,553 per month and widowed mothers with at least two children receive an average of $3,187 per month.
Social Security and SSDI
Social Security benefits are benefits that most seniors can claim after age 62.
Depending on your birthday, Social Security retirement, disability, and survivor benefits are paid on either the second, third, or fourth Wednesday of each month.
If your date of birth falls on the 1st through the 10th, it will be deposited on the second Wednesday of each month.
If your date of birth is between the 11th and 20th, it will be filed on the third Wednesday of each month.
If your date of birth falls on the 21st-31st, it will be deposited on the fourth Wednesday of each month.
Individuals who receive Social Security Disability Insurance (SSDI) typically have the same schedule as long as they began claiming after 1997.
Those who qualify for SSDI are people with disabilities who are no longer able to work or who are unable to work at the same capacity as they used to.
To receive your benefits, check out this payment schedule below from April through the rest of the year.
- Second Wednesday: April 13th
- Third Wednesday: April 20th
- Fourth Wednesday: April 27th
- Second Wednesday: May 11th
- Third Wednesday: May 18th
- Fourth Wednesday: May 25th
- Second Wednesday: June 8th
- Third Wednesday: June 15th
- Fourth Wednesday: June 22nd
- Second Wednesday: July 13th
- Third Wednesday: July 20th
- Fourth Wednesday: July 27th
- Second Wednesday: August 10th
- Third Wednesday: August 17th
- Fourth Wednesday: August 24th
- Second Wednesday: September 14th
- Third Wednesday: September 21st
- Fourth Wednesday: September 28th
- Second Wednesday: October 12th
- Third Wednesday: October 19th
- Fourth Wednesday: October 26th
- Second Wednesday: November 9th
- Third Wednesday: November 16th
- Fourth Wednesday: November 23rd
- Second Wednesday: December 14th
- Third Wednesday: December 21st
- Fourth Wednesday: December 28th
If you began receiving SSDI benefits in or before May 1997, you will be paid on the third of each month, except on the weekend.
Since April 3rd is a Sunday, this means that you should receive the payment on April 1st instead.
Supplemental Security Income (SSI) is a needs-based program to help people with limited income and resources who are unable to generate sufficient income on their own.
If you receive SSI payments, they may have a slightly different schedule.
Specifically, SSI benefits are paid out on the 1st of each month.
However, if the first of the month falls on a weekend, the new payment date is the last Friday of the previous month.
For 2022, no SSI benefits will be paid in January, May, and October, while beneficiaries will receive their payments in both early and late April, September, and December.
Here is a list below with the exact dates for 2022:
- April 1st
- April 29th
- June 1st
- July 1
- August 1st
- September 1
- November 1st
- December 1
- 30th of December
The Sun outlines when Social Security benefits start and stop.
We also explain how you can avoid a late Social Security payment.
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https://www.the-sun.com/money/4957742/social-security-april-payments/ Accurate dates Social Security, SSI and SSDI are paid in April