Social Security’s first batch check for 2023 worth up to $4,555 will be released in just days and it could arrive to you depending on your birth date.
The benefits for retirees this year were boosted due to the cost of living adjustment (COLA) being increased by 8.7 percent which resulted in an increased average benefit monthly worth $1,827 while the maximum increased to $4,555.
The first 2023 COLA payment was already received by Supplemental Security Income (SSI) recipients last December 30. Recipients of Social Security Disability Insurance (SSDI) who received benefits before or during 1997, should have received their first payment on the 3rd of January.
Along with SSDI claimants, Social Security will get their first payment of 2023 in four days.
JANUARY SCHEDULE AND BIRTHDAYS EXPLAINED
The release of Social Security retirement benefits is divided into three Wednesdays a month, and you will receive the payment based on the date of your birthday.
So, if the date of your birth is between the first and the 10th of the month, you will receive the payment on the second Wednesday of each month through direct deposit.
If the date of your birth is between the 11th and the 20th, you will receive the payment on the third Wednesday of each month through direct deposit.
Lastly, if the date of your birth is between the 21st and the 31st, you will receive the payment on the fourth Wednesday of each month through direct deposit.
This is the full payment schedule for the month of January:
- January 11: Second Wednesday
- January 18: Third Wednesday
- January 25: Fourth Wednesday
In February, the beneficiaries of SSDI and Social Security can expect their payments to hit their accounts on February 8, February 15, and February 22.
SSDI claimant who started receiving payments on or before 1997 will receive their payment on February 3 while SSI payments will start to hit accounts on February 1.
