As September draws to a close, some retirees, survivors, and disabled individuals are still waiting for their final Social Security payment of the month. If you fall into this category and claimed benefits after May 1997, good news is on the way.
For those born between the 21st and 31st of any given month, the Social Security Administration (SSA) confirms that the last payment for September will be distributed on Wednesday, September 25th.
If your payment doesn’t arrive on time, it’s recommended to wait at least three mailing days before contacting the SSA’s customer service for assistance.
Payment Schedule
The SSA sends out payments according to a strict monthly schedule based on the date you were born. Here’s a quick breakdown of the payment schedule for those who applied after May 1997:
- 2nd Wednesday of the month: For beneficiaries born between the 1st and the 10th
- 3rd Wednesday of the month: For beneficiaries born between the 11th and the 20th
- 4th Wednesday of the month: For beneficiaries born between the 21st and the 31st
This means that if your birthday falls between the 21st and the end of the month, you’ll receive your Social Security check on the 4th Wednesday.
For beneficiaries who claimed before May 1997, payments are sent out on the 3rd of every month, regardless of the birthdate. It’s crucial to keep this schedule in mind when planning your finances.
Benefits
The SSA’s monthly payments are a lifeline for millions of Americans, with more than 70 million beneficiaries relying on the program. Most of these recipients, nearly 64 million, qualify for the retirement program, which is often their primary source of income.
The maximum monthly benefit for those who wait until age 70 and paid maximum taxable wages can reach $4,873, but the typical monthly check for retired workers hovers around $1,900.
For retired workers, Social Security benefits typically replace 50% to 90% of their pre-retirement income, allowing them to cover basic expenses. However, it’s essential to plan and budget wisely, as those with fewer years of work experience or lower lifetime earnings will see reduced benefits. To qualify for Social Security retirement benefits, you must have earned 40 credits, which is equivalent to about 10 years of work.
Survivor Benefits
The SSA doesn’t just support retirees. It also provides critical financial assistance to those who qualify for Survivor or Disability Benefits, including those who have contributed less than 10 years.
Currently, around 3.8 million people receive Social Security Disability Insurance (SSDI) benefits. These benefits are vital for many disabled Americans, especially since 71% of SSDI recipients rely on their payments to cover 50% or more of their monthly income.
Without these benefits, many SSDI recipients would struggle to meet their basic living expenses. The average monthly SSDI payment is $1,537, but those who paid Social Security taxes on maximum taxable earnings before becoming disabled could receive up to $3,822. Blind recipients can also receive up to $2,590 per month.
COLA Adjustments
Each Social Security payment includes a Cost of Living Adjustment (COLA) to help beneficiaries keep up with inflation. For 2024, the COLA was set at 3.2%, but projections suggest that the 2025 COLA will be around 2.5%, reflecting slowing inflation. It’s crucial for beneficiaries to stay up to date with these adjustments, as they directly impact monthly income.
COLA Impact
| Year | COLA Increase | Average Benefit (Retired) |
|---|---|---|
| 2024 | 3.2% | $1,900 |
| 2025 (est.) | 2.5% | TBD |
A smaller COLA increase means the next adjustment may not provide as much of a boost to beneficiaries’ monthly income. This makes it even more important for retirees and disabled workers to budget carefully and prepare for potential changes in their financial plans.
Financial Stability
Whether you’re receiving retirement or disability benefits, it’s critical to plan your budget around your Social Security payments. While some individuals receive higher checks due to their earnings history, many rely on Social Security to cover basic expenses. With benefit increases slowing down due to a lower COLA, staying on top of updates and being proactive about financial planning will help ensure financial security throughout retirement.
In summary, for those expecting their final September payment, mark Wednesday, September 25th on your calendar if you were born between the 21st and the 31st. Keep the SSA payment schedule and COLA updates in mind as you manage your finances and prepare for a stable future.
FAQs
When is the final Social Security payment for September?
It will be issued on Wednesday, September 25th.
What should I do if my payment is delayed?
Wait three mailing days before contacting SSA customer service.
How are monthly Social Security payments scheduled?
Payments depend on your birthdate and the date you applied for benefits.
What is the average Social Security benefit for retired workers?
Most retired workers receive around $1,900 per month.
How much can disabled workers receive from Social Security?
Disabled workers can receive between $1,537 and $3,822 per month, depending on their earnings history.
