Here’s what time to expect

🚀 Explore this must-read post from Investopedia | Expert Financial Advice and Markets News 📖

📂 Category: Personal Finance News,News

💡 Here’s what you’ll learn:

Key takeaways

  • The Social Security Administration distributes millions of payments each month.
  • When you receive your payments usually depends on your date of birth and, in some cases, the date you started receiving benefits.

The Social Security Administration distributes benefits to approximately 74 million people each month. This is a good time to expect in December.

Payments are distributed primarily by recipients’ dates of birth. However, for those who began receiving retirement, spouse, or survivor benefits before May 1997, they typically receive their payments on the third day of each month.

Supplemental Security Income, a program that provides additional income to people with disabilities and adults 65 or older who have little or no income, is distributed separately from Social Security benefits at the beginning of each month. In some cases, when the beginning of the month coincides with a weekend or holiday, SSI benefits will be distributed in the previous month.

Why is this important?

Since Social Security beneficiaries have fixed incomes, knowing when they will receive their payments is essential to creating their budget and managing their financial obligations.

Here’s how the checks will be distributed for the rest of the year:

In December checks will be issued:

  • December 1 – SSI payments will be made to those who qualify.
  • December 3 – Retirement benefits will be paid to those who have collected them since before May 1997.
  • December 10 – Retirement, spousal and survivor benefits will be paid to those born between the 1st and 10th of any month.
  • December 17 – Benefits will be paid to those whose birthdays are between the 11th and 20th of any month.
  • December 24 – Benefits will be paid to those whose birthdays are between the 21st and 31st of any month.
  • December 31 – SSI payments will be paid to those who qualify for January.

💬 What do you think?

#️⃣ #Heres #time #expect

By

Leave a Reply

Your email address will not be published. Required fields are marked *