Since Wednesday, a large number of Social Security pensioners have been anticipating this month’s benefit payouts of up to $4,194.
Monthly Social Security benefits are paid by the Social Security Administration (SSA). If you are a retired worker, your payment schedule should be based on your date of birth.
Missing Social Security Payments
Those born between the first and tenth of the month will receive their rewards on the second Wednesday of the month. Those with birth dates between the 11th and 20th typically receive their benefits on the third Wednesday of the month.
If the beneficiaries’ birthdays fall between the 21st and 31st, they will receive their rewards on the fourth Wednesday of the month.
Those who receive both Social Security and Supplemental Security Income will receive their SSI payment on the first of each month and their Social Security payment on the third.
If your payment still falls behind the SSA’s timetable, you can take steps to alleviate your anxiety.
If your Social Security check did not come on the specified date, the SSA recommends waiting three extra mailing days before contacting the office.
You can call a representative at 800-771-1213 if you do not receive it within the specified time frame.
The Social Security Administration reported that wait times to speak with a representative are shorter Wednesday through Friday and between 4 pm and 7 pm
Additionally, you can view your Social Security benefits online via ssa.gov/myaccount.
Here is some contact information that may be useful if you have questions about your Social Security benefit. Social Security Fraud Hotline: 800-269-0271 and Social Security Disability Hotline: 800-772-1213.
Will Beneficiaries Be Taxed?
This month, SSI recipients will get two payments. The beneficiaries may be confused since the two SSI checks’ amounts are different.
Because January 1 is a holiday and a weekend, SSI will mail the check on December 30. Generally, the SSA mails out checks on the following working day.
As a result of the COLA increase, the second check you receive this month should be larger than the first. The number of benefits received by beneficiaries should grow by 8.7%. Since 1981, the most recent COLA increase is regarded as the largest.
As a result of the SSA mailing two SSI checks in December, SSI beneficiaries will not get a payment in January. Everyone else who receives Social Security payments will receive their initial payment in January 2023.
In 2023, the maximum monthly federal amounts for an eligible person are $914, while the maximum monthly federal amounts for an eligible beneficiary with an eligible spouse are $1,371.
Meanwhile, Social Security payouts remain taxable, and tax brackets are also shifting owing to inflation. SSI income is not subject to taxation.
Inflation reached 9%, 8.6%, and 8.5% during the official COLA measurements in July, August, and September, respectively.
Read more: Social Security 2023: You should have received an 8.7% increase today!