Every month, millions of Americans receive Social Security payments. However, the exact date you can expect your payment varies depending on your date of birth and the type of benefit you receive. The Social Security Administration (SSA) handles multiple benefit programs, with Social Security retirement benefits and Supplemental Security Income (SSI) being among the most common. In September, a new round of payments is set to be distributed, but the payment dates are different depending on the program you’re enrolled in.
Let’s break down the payment schedules so you know when to expect your money this month.
Retirement Benefits
For recipients of Social Security retirement benefits, payments are scheduled according to birth dates. This method spreads out payments to different groups throughout the month to avoid overwhelming the system. Here’s how the schedule breaks down for September 2024:
- September 11: If your birthday falls between the 1st and 10th of any month, expect your payment on this day.
- September 18: Those born between the 11th and 20th will receive their payment on this date.
- September 25: If your birthday is between the 21st and the 31st, your payment will be deposited on this date.
It’s important to note that those who began receiving retirement benefits before May 1997 follow a different schedule. These individuals will consistently receive their payments on the 3rd of every month, regardless of their birth date.
Payment Schedule
Recipients of Social Security Disability Insurance (SSDI) follow a slightly different schedule. For most individuals who receive disability benefits through the SSI program, payments are typically issued on the first day of the month. However, when the first of the month falls on a weekend or holiday, the SSA moves the payment to the nearest business day to avoid delays.
For September, the first of the month falls on a Sunday. Therefore, SSI payments will be issued a day earlier, on August 31.
- August 31: SSI payments for September will be deposited on August 31, instead of September 1, because of the weekend.
If you receive both SSI and retirement benefits, your retirement payment will be made on September 3 to avoid overlapping with your SSI payment.
Payment Is Delayed
The SSA typically ensures payments are processed on time, but in rare cases, a delay may occur. The SSA advises waiting at least three business days before contacting them to report a missing payment. This waiting period allows time for any potential delays in processing or banking transactions to be resolved.
If, after three business days, your payment has still not arrived, you should reach out to the SSA for assistance. They will be able to help you track the payment and resolve any issues.
COLA
Looking ahead, Social Security beneficiaries may see a modest increase in their monthly payments due to the upcoming Cost of Living Adjustment (COLA). Mary Johnson, a Social Security and Medicare policy analyst, has suggested that seniors could see an estimated 2.6% increase in their benefits in 2025. This adjustment is determined by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which tracks inflation.
The final decision on COLA is expected to be announced in October 2024. The COLA ensures that Social Security benefits keep pace with inflation, helping to preserve the purchasing power of retirees and those on fixed incomes.
The 2.6% increase would provide some relief in an era of rising living costs, but the exact amount of the adjustment will depend on the CPI-W data from the third quarter of 2024. As inflation affects prices for essential goods and services, COLA adjustments help beneficiaries maintain financial stability.
Knowing the payment schedule for Social Security benefits can help you better manage your finances and avoid any confusion about when your money will arrive. Whether you’re receiving retirement benefits or SSI payments, knowing the specific dates can provide peace of mind and allow you to plan your monthly budget accordingly.
For September, keep these key dates in mind:
- August 31: SSI payments (due to September 1 falling on a Sunday).
- September 3: Retirement payments for those who began receiving benefits before May 1997.
- September 11, 18, and 25: Retirement benefits based on birthdate.
Looking further ahead, be on the lookout for news about the 2025 COLA increase, which could mean higher monthly payments for many beneficiaries.
FAQs
When will I get my Social Security retirement payment in September?
It depends on your birth date. If your birthday is between the 1st and 10th, expect your payment on September 11. If you were born between the 11th and 20th, your payment will be on September 18. Those born between the 21st and 31st will receive their payment on September 25.
When will I get my SSI payment in September?
Because September 1 falls on a Sunday, SSI payments will be issued on August 31.
What should I do if I don’t receive my payment?
Wait three business days before contacting the SSA to report a missing payment.
Will my Social Security payments increase in 2025?
There is a projected 2.6% increase in payments due to the Cost of Living Adjustment (COLA), which will be confirmed in October 2024.
What is COLA and how does it affect my Social Security payments?
COLA is a Cost of Living Adjustment based on inflation. It ensures your Social Security payments keep pace with rising costs.
