The second round of the Social Security payments has already arrived this month, reflecting the new 5.9% cost of living increase. The recipients are now looking forward to the third, which will appear in March.
The COLA raise was the greatest in nearly 40 years for those who qualified, and it could not have come any sooner. Inflation in the United States has reached an all-time high of 7.5 percent, and it is anticipated to continue to grow as the epidemic and supply-chain problems it has produced continue to rage.
Social Security Payout Schedule For March
The following is the Social Security payout schedule for March:
- Your money will be delivered on March 9, the second Wednesday, if your birthday is between the 1st and 10th of the month.
- Your money will be given on March 16, the third Wednesday, if your birthday is between the 11th and the 20th.
- Your reward would be issued on March 23, the third Wednesday, if you were born between January 21 and December 31.
Suppose you think your monthly Social Security payout is inadequate to meet your basic requirements. In that case, you may be qualified for Supplemental Security Income, which pays you a monthly payment in addition to your SS payment. On March 1, you will receive your first SSI payment.
If you began getting Social Security benefits before May 1997, or getting both Social Security and SSI benefits, your SSI payment would appear on March 1 and your Social Security payment on March 3.