In August 2024, millions of people receiving Social Security, Social Security Disability Insurance (SSDI), and Supplemental Security Income (SSI) should watch for important payments and updates in the mail.
Understanding when and how much you will be paid is important for managing your finances, especially since some people will get two payments this month.
Understanding August 2024 Payment Schedule
The Social Security Administration (SSA) has set dates for payments based on the type of benefits you get and your birth date. Here’s what you need to know:
1. Supplemental Security Income (SSI)
- Payment Dates: August 1 and August 30
- Why Two Payments? SSI payments are usually on the 1st of each month. Since September 1 is a weekend, the payment will be made on August 30 instead. So, recipients will get two payments in August.
2. Social Security Disability Insurance (SSDI) and Retirement Benefits
- For those who applied before May 1997: Payment on August 2
- For those who applied after May 1997:
- Birthdates between the 1st and 10th: Payment on August 14
- Birthdates between the 11th and 20th: Payment on August 21
- Birthdates between the 21st and 31st: Payment on August 28
3. Survivors Benefits
- Payment Dates: Aligned with the birthdate of the deceased person.
Average Payment Amounts
Here are the average monthly payments for 2024:
| Benefit Type | Average Payment |
|---|---|
| Retirement Benefits | $1,900 |
| SSDI (Disability) Benefits | $1,537 |
| Survivors Benefits | $1,505 |
| SSI (Individual) | $943 |
| SSI (Couple) | $1,415 |
Note: Some people may receive more depending on their situation. For example, the maximum retirement benefit for those retiring at age 70 can reach up to $4,873.
Why Payment Dates and Amounts Matter
Knowing your payment dates and amounts is important for managing your money. If you miss a payment or don’t receive the expected amount, it can be stressful.
The SSA recommends waiting three days after your payment date before contacting them if your check hasn’t arrived.
What’s New for August 2024?
- Extra SSI Payment: With the double payment in August, SSI recipients will get an additional deposit on August 30. This is important for those who use these funds for everyday expenses.
- Adjusted Payment Dates: Payments that usually come on the 3rd of the month will be made on August 2 to avoid the weekend.
Conclusion
With the payment schedule for August 2024, staying informed about when and how much you’ll receive from Social Security, SSDI, and SSI will help you be ready for any financial needs.
Why are there two SSI payments in August 2024?
SSI payments are made on August 1 and August 30 to avoid the weekend of September 1.
When will SSDI payments be made in August 2024?
Pre-May 1997 applications: August 2
Post-May 1997 applications:
Birthdates 1-10: August 14
Birthdates 11-20: August 21
Birthdates 21-31: August 28
What are the average Social Security payments for August 2024?
Retirement: $1,900
SSDI: $1,537
Survivors: $1,505
SSI Individual: $943
SSI Couple: $1,415
What if my payment doesn’t arrive on time?
Wait three days past the payment date, then contact the SSA if you haven’t received it.