As we head into October, the tenth month of the year 2023, Social Security beneficiaries across the United States eagerly await their monthly payments. The good news is that the payment schedule for October remains consistent with the well-established routine that has been in place for some time.
The Social Security Administration (SSA) is one of the main incomes for millions of American and legal resident retirees, disabled individuals, and survivors of deceased workers. To help you plan your finances for the upcoming month, here is the payment schedule for October 2023.
Social Security Pay Dates for October 2023: Your Money in on the Way
Payment dates for Social Security retirement benefits are determined by the birthdate of the primary beneficiary. These benefits are typically paid on a monthly basis, and the upcoming October payments are set to be deposited (or delivered in paper checks) as follows:
October 2023 Retirement Benefits, two payments have already been sent:
- For retirees who were born from the 1st to the 10th of the month, payments will be deposited on October 11, 2023.
- For those born on the 11th to the 20th of the month, payments will be deposited on October 18, 2023.
And two more rounds of payments will be delivered as follows:
- For individuals born from the 21st to the 31st of the month, payments will be deposited on October 25, 2023.
- Survivors’ benefits follow the same schedule as retirement and disability benefits, based on the deceased worker’s birthdate.
- Individuals who receive disability benefits can expect their payments on the same schedule as retirement benefits, being the pay dates October 11, 18, and 25.
Regarding Supplemental Security Income (SSI) beneficiaries’ payments, these are usually made on the 1st day of the month. However, if the 1st falls on a weekend or a holiday, the deposits will be done on the preceding business day: so the things, the payments were already done on September 30.
Social Security Payments to Raise Next Year, But The Increment Will Be Smaller
We find ourselves at the threshold of the fiscal year that commenced in October 2023 and, as every year, there will be changes for the Social Security beneficiaries. This fiscal year heralds a significant development for millions of Americans who rely on Social Security to secure their financial future. The adjustment in the Cost of Living Allowance (COLA) is set to bring about a modest 3.2% increase in the benefits provided by the Social Security system.
The arms of the Social Security to increase, following the COLA adjustment, are:
- Retirement benefits, that provide funds to seniors.
- Disability benefits (SSDI), for those unable to engage in a gainful activity due to a long-time disability (or expected to end in death some time in the future).
- Beneficiaries of the Supplemental Security Income (SSI).
- Survivor benefits, for families who have lost a loved one who used to provide the main income in the household.
What to Do If My Social Security Payments Are Delayed
As long as the federal government and the Social Security system continue to exist, you’ll get your Social Security money right on time, no matter what. Even though, there might be some delayed out of control of the SSA. Firstly, don’t panic. Payment delays can happen due to various reasons, including weekends, holidays, or administrative glitches. Give it a few days to see if the payment arrives late.
If the payment is still not received after a few days, contact the SSA immediately. You can reach them through their toll-free number or by visiting your local SSA office. It’s decisive to report the issue promptly. When contacting the SSA, be prepared to provide your personal information, including your Social Security number, payment details, and any relevant documentation. This will help expedite the process of resolving the payment delay.
In the meantime, consider signing up for direct deposit or the Direct Express Debit MasterCard program, which ensures more reliable and timely payment delivery.