Social Security February Payment: Some claimants will soon get their February Social Security benefits. This month’s payment schedule is a little different from usual: Social Security payments were sent on February 2 to beneficiaries who receive both Supplemental Security Income and Social Security retirement benefits, as well as to those who filed for benefits before May 1997.
In 2024, Social Security benefits have to incorporate the recently implemented 3.2% cost-of-living increase, sometimes known as COLA. Not as much as the historic 8.7% gain from the previous year, but still more than average because of persistent inflation.
The Social Security Administration estimates that as of December 2023, the average monthly benefit for all recipients was almost $1,767. The government projects that the COLA will result in a $50 monthly rise in the average Social Security retirement income by 2024.
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Social Security February Payment
The SSA disbursed Supplemental Security Income payments on the first of each month. Last Friday was the payment day for Social Security beneficiaries who began claiming benefits prior to May 1997, as well as those who receive both SSI and Social Security benefits.
Your birthdate determines the date of your payment if you are solely receiving Social Security benefits and you did not make a claim prior to May 1997.
Beneficiaries whose birthdays fall between the first and the tenth of a particular month will be paid on February 14th. On February 21, beneficiaries who were born between the eleventh and twentieth of the month will get their payout.
Beneficiaries whose birthdays fall between the 21st and the 31st of the month will receive payments from the SSA on February 28.
Where is this month’s Social Security check?
You can contact the Social Security Administration (SSA) if you believe your cheque was not received on time. However, it is advised that you hold off on calling the agency to find out about your payment for three working days. Any weekday between 8 a.m. and 7 p.m., you may reach them by calling 1-800-772-1213.
By opening or entering into your Social Security online account and going to “Benefits & Payments,” you can also see the status of your payments.
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What is the payment schedule for the SSA in 2024?
Depending on the beneficiary’s birthdate, payments for those who receive just Social Security are normally made on the second, third, or fourth Wednesday of any given month. Generally, SSI recipients receive their benefits on the first, unless it occurs on a federal holiday or weekend.
In this instance, SSI beneficiaries’ payments are prorated to the prior business day; hence, they may get two payments in a given month and none in the following. The first of each month is when recipients of both Social Security and SSI (as well as those who applied before May 1997) typically get their benefits; however, if a holiday or weekend comes in a given month, these payments are also postponed to the preceding business day. That is the February situation.
How can I figure out how much Social Security I get?
Your average monthly indexed earnings during the 35 years you made the most money determine your Social Security benefit. After that, the SSA uses a formula to determine your primary insurance amount, or PIA.
By registering or signing into your online account on the SSA’s website, you may view your earnings history and calculate your benefit. To assist you in navigating your benefits, the SSA provides a digital benefits calculator in addition to other online resources.
