Beneficiaries of Social Security can expect their January payment in just a few days. The third round of payments for January is set to hit bank accounts next week, and recipients could receive up to $4,555. The Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and Social Security are the three benefit programs offered by the Social Security Administration.
On Wednesday, January 25, the final batch of Social Security benefits will be mailed to anyone whose birthdays fall after January 21. The recipients’ birthdays determine the Social Security payment schedule. Those whose birthdays fall between the first and the 10th of the month should’ve received their payment on the 11th. Those born between the 11rd and the 20th secured their check on the 18th (Blake, 2023).
The amount retirees receive in Social Security depends on the cost-of-living adjustment (COLA), which increased by 8.7 percent in 2023. Those who started receiving SSDI benefits before or during 1997 should have received their payment on January 3. Recipients receive an average benefit of $1,827 a month, while the maximum amount is set at $4,555.
The first payment of the year for Social Security recipients received their first SSA check of 2023 on December 31. Those who receive SSI checks can continue to expect their checks on the first of the month for the rest of the year. Check out here for the precise dates of the SSA payment schedule for 2023.