The February 2023 Social Security payment schedule was released by the Social Security Administration (SSA) to inform its recipients.
February 2023 Social Security Payment Schedule
The next round of Social Security checks will be made according to the same monthly schedule, with payments going out on the second, third, and fourth Wednesdays of the month.
As released by the SSA, this is the February 2023 Social Security payment schedule.
For those whose birth date falls on the 1st-10th of the month, the payment schedule is Wednesday, Feb. 8. If your birth date is on the 11th-20th, your payment schedule is Wednesday, Feb. 15. For those whose birth date falls on thee is February 1.
If you are a Social Security recipient who is also receiving SSI or started receiving Social Security before May 1997, you will receive Social Security scheduled on February 3 and SSI on February 1. It is worth noting that if the first of the month falls on a weekend, SSI payments are issued on the Friday before the first.
You can check your eligibility on the SSA website. SSI is only available to those who meet financial qualifications and have a disability or partial or complete blindness that prevents the ability to work.
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If the payment is not received based on the February 2023 Social Security payment schedule, the SSA advises waiting for three additional mailing days before contacting them.
Go Banking Rates reported that with the 8.7% cost-of-living adjustment (COLA) for 2023, beneficiaries will see a significant boost in their benefits, marking the highest increase in 41 years. According to the SSA, Social Security benefits have increased by over $140 a month on average in 2023, significantly helping seniors cope with the rising cost of living.
In conclusion, with the February 2023 Social Security payment schedule, seniors and other recipients can plan their finances accordingly. The increase in benefits brought about by the COLA boost, although mitigated by easing inflation, will still be a significant help in easing the financial burden for those struggling to make ends meet. For those who qualify, SSI can be an additional source of support to help them through these challenging times.
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