Millions of senior citizens, as well as disability and survivor insurance beneficiaries, are waiting for their next monthly Social Security check.
The Social Security Administration (SSA) adheres to a meticulous distribution schedule that ensures funds reach their intended recipients in an orderly manner, so it’s time to review the timing for all beneficiaries.
These payments are a critical component of the personal finances of approximately 70 million Americans.
To ensure transparency and predictability, the agency assigns specific dates based on the beneficiaries’ dates of birth. If you’re wondering if your check will arrive this week, here’s what you should know.
Who will receive Social Security payments on July 16?
The vast majority of beneficiaries receive funds on one of three Wednesdays per month. The exact date when the deposit is made is directly related to the beneficiary’s date of birth.
The Social Security Administration has scheduled payments for July 16 for those born between the 11th and 20th of any month. This is the second of three payments that the agency will distribute on Wednesdays in July.
Wednesday, July 9: Beneficiaries born between the 1st and 10th of each month.
Wednesday, July 16: Beneficiaries born between the 11th and 20th of each month.
Wednesday, July 23: Beneficiaries born between the 21st and 31st of each month.
What are the exceptions to the calendar?
Although most adhere to the Wednesday schedule, certain categories of beneficiaries receive payments on different dates:
Long-term Social Security beneficiaries: If you started claiming retirement, SSDI or survivor benefits before May 1997, your payment is generally issued on the 3rd of each month.
Supplemental Security Income (SSI) recipients: SSI recipients, a separate SSA program for low-income individuals age 65 and older or with a disability, typically receive their payment on the first of each month.
Dual beneficiaries (SSI + regular Social Security): Those approximately 2.5 million people who receive both SSI and retirement, SSDI or survivor benefits receive the SSI payment on the first of the month.
How much does Social Security pay?
The average monthly payment for retired workers, who account for the vast majority of Social Security beneficiaries in the United States, is slightly more than $2,000. According to the Social Security Administration, the current average monthly retirement check is $2,002.39. The maximum monthly retirement check is $5,108.
