Millions of retirees have received their first Social Security payment and some even Supplemental Security Income as well. So, since they have no payments left in July, August will bring the next payday.
The important thing is that the Social Security Administration will send all the payments without delays in August. If there is any delay it may be due to your bank processing payments.
Social Security payment date change in August
In general, there are 2 groups of recipients getting retirement benefits on the third of the month. However, August 3 is a Saturday. Since the Administration never sends money on the weekends or holidays, it needs to be rescheduled.
This is great news for millions of retirees because they will receive their Social Security 24 hours in advance. Therefore, get your monthly budget ready because you can pay off debt or buy things one day before you expected it.
Hence, August 2 will be the new payment date for millions of retirees. This change also took place in February. But August will not be the last month it will happen. The retirement benefit payment for November 3 will be due on November 1 instead.
Who will receive money on August 2 from Social Security?
If you qualified and got retirement benefits before May 1997, your next payment will be due on August 2. Do not worry because there is another group of beneficiaries who are also eligible.
Those recipients of Supplemental Security Income (SSI) who get retirement benefits too, qualify for the August 2 payment. So, they will get SSI on August 1 and retirement on August 2.
Getting 2 consecutive payments will be possible for many SSI recipients who get Social Security retirement benefits at the same time. Those citizens who are on retirement benefits and have a low income can apply for SSI. In this way, they can get extra money every month.
