The United States Social Security the benefit schedule notes four different days each month for retirement checks. So simply by directly checking which group we belong to, we can find out on which day we will receive our payment each month.
This is really easy to follow and with just a little information we will have enough to determine the payment days. We will always get the money on one of the four days and whether we get it on one or the other depends on which group Social Security Beneficiaries we belong to.
Therefore, we must be sure that we belong to a certain group if we want to mark Social Security collection date in the calendar. And tomorrow, January 3, we will have the first pension payments of the year. If you are part of Group 1, you will be able to enjoy this payment. If not, you will have to wait a few days until you get the benefit.
Remember, if you don’t get paid on the first day, it doesn’t mean you won’t get the benefit. Every retiree gets their check on one of these days, so there’s nothing to worry about. The important thing is to have your own Social security accepted and also to know which group you are a part of.
Who gets the new Social Security payment?
Only the first group of pensioners can get this new social security payment. This first group consists of retirees born on any day of the month, but their check must have been accepted before 1997. This is the only requirement to be able to cash the check on that day.
Additionally, a recommendation to receive payment as soon as possible is to have Direct Deposit enabled. This will make the check arrive instantly without you having to wait a single day to get the money. If this is not enabled, the payment will arrive in the next few days.
Also note that if our benefit is after 1997 we will also receive the payment in January but on a different day. The exact day of payment will depend on our birthday. The days for this group will be the 10th, 17th or 24th, so if your Social security is after this year you can receive the payment on one of these days.
How much will the retirement check be?
From January 2024, the check will come with a COLA increase for all beneficiaries. The final amount will depend on the amount we have collected up to the last month. What we get will be the same check with 3.2% added.
So if we have a check for $1,000, for example, we will collect a benefit of $1,032 in 2024 for each month. Whatever amount we have collected, that 3.2% will be included, so we can easily calculate what our check will be in 2024.
As for the increase, the type of Social security advantage it doesn’t affect how much you get. It only affects the check we previously received. So both disabled beneficiaries and other types of beneficiaries can get the check increase without any problems. Likewise, regardless of the day of collection, we will receive the increase.