Millions of Americans are hoping for some financial relief from the latest round of Social Security payments in July. In an era when every dollar counts, these funds are a lifeline for retirees, people with disabilities, and survivor beneficiaries.
The Social Security Administration (SSA) uses a staggered distribution schedule to ensure that benefits reach those who rely on them in a timely and predictable manner.
Wednesday, July 23, will be the last day of payments for the month. Understanding when and how this money is received is critical, particularly in a difficult economic climate. Here are the important details about distribution, average amounts, and how to check the status of your payment.
How much money can you receive from Social Security?
According to the SSA, this is what beneficiaries typically receive:
Retired workers: Average monthly benefit of $1,907.
Disabled workers (SSDI): Average monthly benefit of $1,537.
Couples who both receive benefits: Around $3,303 combined.
Maximum benefit at full retirement age (67): $3,822.
Maximum benefit at age 70: $5,108.
Who will receive the Social Security payment on July 23?
The Social Security Administration (SSA) distributes monthly benefits in three phases, depending on the date of birth:
July 9: Beneficiaries born between the 1st and 10th.
July 16: Beneficiaries born between the 11th and 20th.
July 23: Beneficiaries born between the 21st and 31st.
How can you check the status of your Social Security payment?
Visit the my Social Security portal.
Check your bank account for the direct deposit on or around July 23.
Contact your bank if there is a delay in the deposit.
If the payment still does not appear after three business days, contact the SSA at 1-800-772-1213.
How will the Social Security calendar continue?
SSI recipients will be paid on August 1, followed by Social Security retirement and disability beneficiaries on August 14, 21, and 28, depending on their birth dates.
