If you receive Social Security payments, whether you’re in retirement or disabled, the Social Security Administration (SSA) calculates your benefits as a monthly amount. Each aspect of the program, both Social Security and Supplemental Security Income (SSI), issues payments once per month to all beneficiaries.
Understanding what the Social Security landscape looks like for the coming month can be extremely helpful. Also, in the fall, the Social Security Administration calculates how much it will pay out in benefits for the coming year, based on current rates of inflation.
Social Security Payments for September 2023
The SSA has made no changes to its 2023 retirement and disability benefits for September. The payment will be in line with all other months of the year.
The amount each family receives depends on their individual circumstances. For Social Security retirement benefits, it depends on your work history and the age at which you began collecting benefits. The more Social Security credits you earned during your working life, the more benefits you’ll receive up to the program’s limits. The later you start collecting benefits, until age 70, the more benefits you’ll receive.
In September 2023, you could receive up to $3,627 in Social Security benefits if you started collecting benefits at full retirement age (67 for all current workers). If you start collecting benefits at age 62, you can get up to $2,572 the sooner you do so. If you start collecting at age 70, the latest you can do this, you can get up to $4,555. According to July data from the SSA, the average retiree receives a benefit of about $1,838.
For SSI, the amount depends on the assets of the household. The higher your family’s income and assets, the lower your SSI payments will be until you become ineligible.
SSI pays up to a maximum of $914 per eligible individual or $1,371 per eligible individual including a spouse. In 2023, the average SSI recipient collects $553 in benefits.
Social Security Payment Schedule for September 2023
Social Security sends payments on a schedule based on both the program and the recipient. Recipients should allow up to three days for possible mailing and handling delays. If a holiday, weekend or other scheduled issue interferes with the scheduled payment, the SSA will immediately issue the payment on the first eligible day.
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If you receive SSI benefits, you will receive payments on the following schedule:
On September 29, the SSA will issue October’s payment. This is because October 1st falls on a Sunday, so payments are made by the Friday before the weekend.
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If you receive Social Security benefits, you will receive payments on the following schedule:
Unless otherwise stated, Social Security beneficiaries receive payments based on the day they were born. Payments are issued on the 2nd, 3rd and 4th Wednesday of each month in birthday order.
Social Security Updates and Changes for September 2023
There are no changes to the amount or schedule of Social Security benefits for September 2023. There has also been no change in the amount or schedule of SSI payments for the month.
It’s important to understand this, as scams related to Social Security have become increasingly common. In most cases, this involves the scammer contacting Social Security recipients by telephone or (less often) email to tell them there has been a change or problem with their benefits. It’s rare for anyone from the SSA to make unsolicited phone calls, so be careful about who you give your information to.
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In September 2023, Social Security will issue payments under its standard calendar and in the amounts set out for this calendar year. There are no major changes other than a quick payout as October 1st falls on a Sunday.
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