The Social Security Administration (SSA) made another round of payments to millions of beneficiaries on Wednesday, April 23, as part of the monthly schedule that provides ongoing financial assistance to retired and disabled individuals in the United States.
The distribution is part of the regular payment schedule, which organises the dates according to the day of birth of each beneficiary. On this occasion, the deposits were made to those born between the 21st and 31st of any month who receive their pension early.
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The SSA payment system operates in three monthly phases: those born between the 1st and 10th receive their money on the second Wednesday; those born between the 11th and 20th receive their money on the third Wednesday; and those born between the 21st and 31st receive their money on the fourth Wednesday. This structure seeks to avoid overcrowding in the system and ensure that resources are delivered in an orderly manner.
Along with pensions for retirees, the SSA also administers the Supplemental Security Income (SSI) program, which is aimed at people with severe disabilities that prevent them from working or earning sufficient income. The amount of the benefit varies according to household size and living conditions.
Why are there two Social Security payments in the same week?
In certain circumstances, beneficiaries may receive two payments in the same week. This happens when the dates of the regular Social Security payment coincide with those of the SSI program, which occurs according to the calendar. Despite arriving close together, these are separate payments for different programs.
It should be noted that beneficiaries who began receiving their Social Security payments before May 1997 are still under a special scheme that allows them to receive their deposit on the third day of each month, regardless of their date of birth.
Meanwhile, for next month, SSI beneficiaries should be aware that the first deposit will arrive on Thursday, May 1, and the second will be brought forward to Friday, May 30, because June 1 will fall on a Sunday. In accordance with the SSA‘s policy, payments are brought forward when they coincide with a weekend or federal holiday.
How much are Social Security and SSI payments?
The average monthly Social Security payment for those who retired at age 62 is $2,831. Those who chose to delay retirement until age 67 can receive up to $3,822. If retirement is postponed until age 70, the maximum benefit rises to $5,108 per month.
SSI payments can reach up to $967 per person, while a couple filing jointly can receive up to $1,450. Likewise, those who care for beneficiaries and are classified as “essential persons” could qualify for monthly support of up to $484.
This news was originally published on this post .
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