Every month, about 70 million Americans rely on Social Security benefits. This year, the Social Security Administration (SSA) is set to distribute around $1.5 trillion to retired and
disabled workers, their dependents, and survivors. Let’s break down how these payments work, what you can expect, and how to stay informed.
How Social Security Payments Are Scheduled
The SSA has a yearly payment schedule based on several factors:
Supplemental Security Income (SSI)
SSI payments are sent out on the first day of each month.
Old Age, Survivors, and Disability Insurance (OASDI)
For OASDI, payment timing depends on when you applied for benefits and your birth date:
- Applied Before May 1997: Payments are on the 3rd of each month.
- Applied After May 1997: Payments are scheduled based on birth dates:
- Second Wednesday: Birth dates between the 1st and the 10th
- Third Wednesday: Birth dates between the 11th and the 20th
- Fourth Wednesday: Birth dates between the 21st and the 31st
If a payment date falls on a weekend or holiday, the payment is moved to the previous business day.
Why Your Birth Date Matters
Your birth date is crucial for determining your monthly payment schedule. The SSA uses this system to efficiently manage and distribute payments to millions of beneficiaries.
Confirmed Payment Dates for August
Here’s when you can expect your payments in August:
- SSI: August 1st
- OASDI:
- August 2nd: For those who applied before May 1997
- August 14th: Birth dates between the 1st and the 10th
- August 21st: Birth dates between the 11th and the 20th
- August 28th: Birth dates between the 21st and the 31st
How Much Will You Receive?
The amount of Social Security benefits varies based on several factors:
- Retirement Benefits: $1,900
- Survivors Benefits: $1,505
- Disability Benefits: $1,537
Other amounts include:
- Retirement at Age 62: $2,710
- Retirement at Age 67: $3,822
- Retirement at Age 70: $4,873
- Disability for Blind Recipients: $2,590
- Maximum Disability Payment: $3,822
For SSI recipients:
- Individuals: $943
- Couples: $1,415
- Essential Persons: $472
Understanding your Social Security benefits can help you manage your finances better. Keep track of payment dates and amounts to ensure you receive your full benefits.
1. When will I receive my SSI payment this month?
SSI payments are issued on the 1st of each month.
2. How do I know when my OASDI payment will be made?
Payments are based on your application date and birth date. Check the schedule to find your specific date.
3. What if my payment date falls on a holiday?
Payments are moved to the previous business day if the date falls on a weekend or holiday.
4. How is the amount of my Social Security benefit determined?
The amount depends on your work history, contributions, retirement age, and type of disability.
5. Where can I find more information about my Social Security benefits?
Visit the Social Security Administration’s website or contact their office for detailed information about your benefits.
