The first batch of Social Security payments for the month is expected to be delivered on Friday. Remember: The February Social Security payments also contain the Cost-of-Living Adjustment for 2023, just like the January checks did. The increase for this year increases your benefit by 8.7 percent.
The Social Security Administration issues its cheques in waves throughout the month. Continue reading to find out how and when to anticipate receiving your Social Security payment.
Social Security Payments February 2023: Schedule of Payment Revealed!
In February paychecks, the first 2023 COLA increase will be shown. You should get your Social Security check and/or SSI money in February on the dates shown below.
February 1, 2023: SSI payouts for February.
February 3, 2023: Social Security payments begin for anyone who receives both SSI and Social Security or has done so since before May 1997.
February 8, 2023: Social Security benefits will begin for people whose birthdays fall on the 1st through the 10th of any given month.
February 15, 2023: Social Security benefits are paid to anyone whose birthdays fall on the 11th through the 20th of any given month.
February 22, 2023: Social Security benefits payments for people whose birthdays fall between Jan. 1 and Dec. 31.
GoBankingRates, citing Social Security Administration, said the average monthly Social Security payout in 2023 has climbed by more than $140.
The 5.9% COLA from the previous year did nothing to assist seniors in coping with the elevated expense of living. Seniors who are battling with rising prices for everything from food, gas, and housing should benefit more from the larger COLA for 2023.
However, GOBankingRates mentioned that the most recent statistics from the Bureau of Labor Statistics indicated that inflation continued to decline for the sixth straight month in December, falling to 6.5%.
What Happens If You Don’t Receive Your Check on Expected Dates?
The Social Security Administration advises waiting three more mailing days before getting in touch if, due to your birth date or other reasons, your check doesn’t arrive on the day specified above.
If you still haven’t received it, call 800-772-1213 to speak with a representative. (The SSA notes that Wednesday through Friday and late in the afternoon on workdays saw the shortest wait times.)
Additionally, you need to check your Social Security benefits online to know more about the status.