EletiofeSocial Security Schedule: When August 2022 Benefits Will Be...

Social Security Schedule: When August 2022 Benefits Will Be Sent

-

- Advertisment -

yacobchuk / iStock.com

yacobchuk / iStock.com

Social Security checks are scheduled to go out in early August. Rising inflation has pushed the Social Security cost-of-living increase to 5.9% for 2022, the largest in nearly 40 years, and it’s expected to be even higher for 2023.

See: Social Security COLA Increases Could Cost Seniors Money — Here’s How

Find:
7 Must-Know Social Security Facts for 2022

Here is the August Social Security schedule:

  • If your birth date is on the 1st-10th of the month, your payment is distributed on Wed, Aug. 10.

  • If your birth date is on the 11th-20th, your payment is distributed on Wed, Aug. 17.

  • If your birth date is on the 21st-31st, your payment is distributed on Wed, Aug. 24.

If Social Security checks aren’t enough to cover basic living expenses, you may also qualify for Supplemental Security Income (SSI). The SSI program sends monthly payments to adults and children with a disability (or partial or complete blindness) that prevents the ability to work. Recipients of SSI must still meet financial qualifications. SSI is also available to those 65 years and older who have limited income and financial resources.

If you received Social Security before May 1997, or if you’re receiving both Social Security and SSI, then you will receive Social Security on Aug. 3 and SSI on Aug. 1. If you don’t receive your payment on your scheduled date, the Social Security Administration says to allow three additional mailing days before contacting the agency.

Take Our Poll: Are You Concerned That Social Security Benefits Will Be Reduced During Your Lifetime?

Explore: Social Security Alternatives That Will Provide Income in Retirement

The average Social Security check amount for all beneficiaries as of June 2022 is about $1,542, while SSI recipients receive about $623 per month. The latest estimates reveal that the COLA for 2023 could be as high as 10.5% due to inflation rates. A 10.5% COLA would mean a $175.10 increase to the average monthly retirement benefit, according to The Senior Citizens League.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Social Security Schedule: When August 2022 Benefits Will Be Sent

Latest news

Three Children Rescued As Fire Razes Storey Building In Delta

There was a fire outbreak at a storey building at the Obi Onuorah Crescent back of Okowe Plaza in...

Chaos At National Assembly As DSS Operatives Brutalize 2 Senior Staff

In the early hours of Friday, two senior staff members of the National Assembly were brutalized by operatives of...

Meet US-Based Nigerian Doctor, Funke Afolabi-Brown, First Black Woman To Own Sleep Clinic

In her efforts to tackle global health challenges affecting women and children, Nigerian physician Dr. Funke Afolabi-Brown founded The...

Nigeria Doesn’t Deserve Royal Visit – UK Journalists Slam Harry & Meghan For Visiting Nigeria

Kevin O’Sullivan, a British journalist and presenter, has criticised Prince Harry and Meghan Markle, the Duke and Duchess of...
- Advertisement -

1-year-old Girl R*ped At Creche In South Africa

A 1-year-old girl was reportedly r*ped at a crèche in Newlands East in Durban, South Africa.Her family, community and...

Guide to AccessBET App: Installation, Updating, and Account Registration

Installing, Updating, and Registering Accounts with the AccessBET App Guide The AccessBET app is designed to offer an...

Must read

Three Children Rescued As Fire Razes Storey Building In Delta

There was a fire outbreak at a storey building...

Chaos At National Assembly As DSS Operatives Brutalize 2 Senior Staff

In the early hours of Friday, two senior staff...
- Advertisement -

You might also likeRELATED
Recommended to you