The Social Security Administration (SSA) has confirmed that it will send payments averaging $2,000 to millions of beneficiaries on May 14. This update follows the 2.5% cost-of-living adjustment (COLA) increase. As a new month begins, many beneficiaries eagerly await their Social Security payments.
This particular week is significant for those who receive their payments on the second Wednesday of each month, meaning that on May 14, up to $2,000 per beneficiary will be distributed. The SSA organizes payments based on beneficiaries’ birth dates, with the second Wednesday corresponding to those born between the 1st and 10th of any month who began receiving benefits after 1997. For those born between the 11th and 20th, payments will be made on May 21.
Those born between the 21st and 31st will receive their checks on May 28. Individuals who started receiving benefits before May 1997 have a fixed payment date, which is the third business day of each month. For May, this payment was made on the 2nd since the 3rd was a Saturday.
Supplemental Security Income (SSI) recipients, on the other hand, receive their payments on the 1st of each month.
May payments set for distribution
If a scheduled payment date falls on a Saturday, Sunday, or federal holiday, the SSA ensures that the payment is processed on the previous business day to avoid any delays.
The national average for retirement payments is approximately $2,000 per month, although the exact amount can vary based on an individual’s earnings history, contribution years, and retirement age. Besides retirement payments, the SSA also distributes:
– Disability (SSDI) payments averaging $1,581.88 per month. – Survivor benefits averaging $1,565.52.
– SSI payments for low-income individuals or those with disabilities, averaging $717.87. To confirm the receipt of your payment, you can check your bank account on the scheduled payment day, as most payments are made via direct deposit and typically appear in the early hours. Alternatively, you can log into your profile at my Social Security through the SSA’s official website: ssa.gov.
If your payment has not arrived, the SSA advises waiting three business days before filing a claim. Delays may occur due to banking or technical issues. Should the payment still be missing after this period, contact the SSA directly or visit a local office with your Social Security number to resolve the issue.