August is just around the corner and a new round of Social Security payments for over 70 million of recipients across the United States. The Administration (SSA) disburses SSI, retirement, disability (SSDI), and survivor benefits on a monthly basis.
However, not every recipient receives their payment on the same date. In 2024, approximately 68 million Americans will receive some form of Social Security benefit each month, with around one trillion and a half expected to be distributed this year, stated the Agency.
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When benefits are deposited into bank accounts, from the second Wednesday of the month, depends on your date of birth and the type of benefit you collect. The majority of recipients are paid according to when their birthday fallsโthe later in the month your birth date is, the longer you will have to wait for your money.
There are some exceptions to this general rule:
- Individuals who have been collecting retirement benefits since before May 1997 are generally paid on the third of the month.
- Those who collect Supplemental Security Income (SSI) are regularly paid first.
This month, recipients of Supplemental Security Income (SSI) will see two payments. Typically, SSI is disbursed on the first of the month. However, because September 1 falls on a Sunday this year, the payment date has been moved up to August 30. The Social Security Administration (SSA) does not issue benefits on holidays or over the weekend.
Why the Early Payment?
“We do this to avoid putting you at a financial disadvantage and ensure that you don’t have to wait beyond the first of the month to receive your payment,” the SSA explained in a 2022 blog post. “This adjustment does not mean you are receiving a duplicate payment in the previous month, so there is no need to contact us to report the second payment.”
Important Information to Remember
- Two SSI payments will be made this month due to the weekend schedule adjustment.
- The early payment on August 30 is intended to ensure the timely receipt of funds.
- There is no need to report this as a duplicate payment.
Full Schedule of August 2024 Social Security
Payments
August 1
All SSI payments will be made on August 1.
Augustย 2
Payments for Social Security benefits will be distributed on August 2 if you started receiving retirement benefits before May 1997 or you also get SSI.
August 14
If your birthday falls between the 1st and 10th of your birth month, expect your payment on Wednesday, August 14.
August 21
Claimants with birthdays between the 11th and 20th will receive their monthly amount on August 21.
August 28
If you were born between the 21st and 31st of any month, your Social Security benefits will be paid on August 28.
August 30
SSI benefits for September will be issued two days earlier on August 30, because September 1 falls on a weekend.
If you do not receive your benefits on the allocated date, please wait three mailing days before contacting the SSA.