Each month, the Social Security Administration provides monthly payments to over 71 million Social Security Recipients, but one group will not receive a check in April, sort of. Due to the colossal nature of distributing so many settlements, the government distributes them based on the Social Security Recipients’ date of birth, kind of benefit, and when they originally registered for Social Security.
Social Security Recipients usually get it on the first of each month due to the payment schedule. It wasn’t an April Fool’s joke, but because April 1 happened on a Sat this year, the payouts were released a day early on March 31.
Social Security Recipients Details That You Need To Know
The same thing will happen twice more in 2023, with payouts in both July and October being moved ahead to the month prior to, or June and September, respectively. Similarly, the initial SSI payments of the next year are shifted forward to the last day of December each year. These are the first payments to reflect the yearly cost-of-living increases mandated by law by the Social Security Administration. The Social Security Administration provides payments to retirees, disabled employees, and their survivors. The amount received by each recipient is determined by a number of criteria, including when the employee started filing for Social Security and their Primary Insurance Amount, among others.
According to official data, the typical monthly Social Security payout in Jan 2023 was $1,961 for all types of payments. Adults and children with disabilities who have money and assets below specified limits are eligible for Supplemental Security Income. Support is also provided for people over 65 and up whose earnings fall below the eligibility limits.
