Three exact dates new batch of direct payments worth $1,657 will be sent to millions of Americans & they start tomorrow
MILLIONS of Americans will be sent direct payments worth an average of $1,657 from tomorrow.
Social Security claimants will get the monthly benefit from September 14.
Around 66million Americans receive a Social Security benefit per month, according to the SSA.
Nearly nine out of ten people who get the monthly check are aged 65 or older.
Claimants born between the 1st and 10th are due to get the payment on the second Wednesday of the month.
Payments will be distributed to Americans born between the 11th and 20th on September 21 – the third Wednesday of the month.
read more on social security
If your birth date is on the 21st-31st, it will be deposited on the fourth Wednesday of each month.
This means payments should arrive on September 28.
Seniors that do not receive their Social Security benefits on time should allow three additional mailing days before contacting the SSA.
The maximum benefit claimants can receive is $4,194.
The Sun has released a list explaining when Social Security benefits should be deposited for October, November, and December.
Social Security payments increased by 5.9 per cent for 2022 because of the cost-of-living adjustment.
The adjustments are based on inflation and it was the highest increase since 1982.
It’s not yet known how much Social Security benefits will increase by in 2023.
But, decades high inflation is expected to push the COLA to its highest level since the 1980s.
The 2023 COLA announcement is anticipated to come on October 13.
Inflation rates surged to 9.1 per cent year-over-year in June, before dipping to 8.5 per cent in July.
It’s thought the COLA could be around 9.6 per cent if inflation remains constant, according to the Senior Citizens League.
It could mean that monthly Social Security benefits may increase by $160.
If inflation crept back up, benefits could increase by as much as 10.1 percent.
Read More on The US Sun
Read More on The US Sun
Americans can start enjoying Social Security benefits as soon as they hit 62, but The Sun has revealed why it may make more sense to wait before claiming the payments.
And, we explained the five actions you should take before claiming the checks.