Who will Social Security pay their benefits on July 8?
The Social Security Administration (SSA) will send the first payment for retirees and disabled people on July 8. Who will receive it and the average amounts
We are on the 4th of July. Not only are we celebrating the 250th anniversary of America's independence, it also means we're starting the month. Although it may seem like a few days to talk about Social Security payments, on the 8th a first group of people will receive their benefits.
Currently, more than 71.2 million people receive benefits administered by the Social Security Administration (SSA). To distribute payments in an orderly manner, the federal agency divides most beneficiaries into three groups, whose deposits are made during the second, third and fourth Wednesday of each month. On this occasion, the next scheduled payment will be on Wednesday, July 8 for a specific group of retirees, people with disabilities and survivors who meet the criteria established by the agency.
Who will receive the Social Security payment on July 8?
According to the official SSA calendar, on Wednesday, July 8, people born between the 1st and 10th of any month will receive their benefits. This deposit corresponds to the first group within the regular three-Wednesday calendar that the agency uses to distribute monthly payments.
The following dates scheduled for July were organized as follows:
It is important to remember that some people receive benefits using another person's work history, such as in certain cases of spouses or survivors. When this occurs, the SSA references the date of birth of the person whose work history generates the benefit to determine the day the deposit is made.
Which beneficiaries already received their money in July?
Not all beneficiaries follow the three Wednesday calendar. Some people received their benefits before the start of this cycle. Beneficiaries who started receiving Social Security before May 1997 got their deposit on July 2, regardless of their date of birth. This group usually collects on the 3rd of each month, but the payment was advanced because that date coincided with a federal holiday.
Likewise, beneficiaries who simultaneously receive benefits from Social Security and the Supplemental Security Income (SSI) program also received their Social Security payment on July 2. In these cases, the SSI deposit was previously sent on July 1.
How much money do Social Security beneficiaries receive?
The amount each person receives depends on factors such as their work history, the income reported during their working life, and the type of benefit they receive. However, the most recent figures shared by the SSA show the following average monthly payments:
These amounts are only averages, so each beneficiary may receive a different amount depending on their particular situation.
How does the SSA send Social Security payments?
The Social Security Administration makes deposits electronically. The most used option is direct deposit into a bank account, a method that allows you to receive the money automatically and safely.
Another available alternative is the Direct Express card, a debit card designed to distribute federal payments to those who prefer not to use a traditional bank account.
If a beneficiary changes banks or needs to update the information where they receive their benefits, it is advisable to do so in advance to avoid delays in future deposits.