Social Security is the primary source of income for millions of Americans, and it changes the needle for them at the end of the month. In fact, in 2023, there were more than 65 million people enrolled receiving Social Security benefits, both retirement and other benefits such as disability benefits (SSDI) or Supplemental Security Income (SSI).
Below, we are going to break down the Social Security benefit payment dates from July 17 to the end of August 2024, according to the information from the Social Security Administration (SSA) on its official calendar.
Since we have already passed the middle of the month, until this date, several payments have already been made, such as the July 1st payment for SSI beneficiaries, the July 3rd payment for those who have been receiving their payments since before May 1997 (or who receive both Social Security and SSI).
For beneficiaries whose birthdays fall between the 11th and the 20th of any month, payments are made on the third Wednesday of the month. In July 2024, this date is July 17.
Key Payment Dates in August: Dual Checks for SSI beneficiaries
In August, the payment pattern remains the same as established by the Social Security Administration for many years now.
- Second Wednesday of August:
- August 14: Beneficiaries born between the 1st and the 10th of any month will receive their payments on the second Wednesday.
- Third Wednesday of August:
- August 21: Payments for those who have their birthday between the 11th and the 20th of any month.
- Fourth Wednesday of August:
- August 28: Beneficiaries born between the 21st and the 31st of any month will receive their payments on the fourth Wednesday.
Recipients of SSI allowances also have a specific payment schedule. These payments are usually made on the first day of each month. However, in special cases such as weekends or holidays, the payment dates may be adjusted.
Why SSI Recipients Get Two Payments in August
Supplemental Security Income (SSI) recipients will receive two payments in August due to the structure of the schedule. SSI payments are typically made on the first day of each month. However, when this date falls on a weekend or public holiday, the payment is brought forward to the previous working day.
In August 2024, the first day of the month is a Thursday, so the payment will be made normally. However, September 1st is a Sunday, so the payment for that month will be advanced to Friday, August 30th. Thus, the beneficiaries will receive two payments in August: one on August 1 and one on August 30. This ensures that they have access to their funds without interruptions due to non-working days.
Maximum Social Security Payments, Depending on the Type of Benefit
If you receive a retirement benefit, the maximum possible payout is $4,873. However, the average is $1,907 for a retired job, $1,537 for a worker with a qualifying disability, and $502 for a survivor of a beneficiary.
If you are a beneficiary of Social Security Disability Insurance (SSDI), the maximum you can qualify for is $3,822, but the average is $1,489.26.
For SSI beneficiaries, the maximum for an eligible individual is $943, and for an individual with an eligible spouse it is $1,415.
