Hundreds of Americans who are beneficiaries of the Social Security month after month, this month of October is no exception. The payments of the Social Security, They form the basis of the financial means of many citizens of the United States. The Administration of the Social security (SSA) makes payments to retirees over age 65, people with disabilities, eligible people, and survivors of deceased applicants.
Also known as program of Insurance of Old age, Survivors and Inability (OASDI), the benefits funded by taxes provide money to those who would otherwise struggle to survive. Its mission is to replace income lost as a result of factors such as old age, disability, or financial support attributed to a deceased spouse or parent.
The Supplemental Security Income — Know What It Is
The Supplemental Security Income (SSI) is an additional payment provided to elderly, blind and disabled people who do not have very good income and little or no assets. Often, the objective of such payments is to increase the income of the retired, whose payments of OASDI They may not be enough to meet your needs.
This is due to the large number of beneficiaries who receive their benefits regularly, not all applicants have their money on the same date each month. The date on which the applicant is paid is determined based on various factors to be evaluated, including the type of benefit, date of birth and place of residence.
Payment Of Social Security Dates for the Month of October — Update
- The payment corresponding to those who make the request for payments of the SSI They were already receiving their benefits from the past October 1, just like those beneficiaries that they have been requesting benefits of retirement since before May 1997, that the payment was sent on the day October 3, and this date also applies to those who claim both the SSI like the benefits of old age.
- Those, born between the first and the tenth day of their birthday month, will receive their on Wednesday, October 9.
- To those whose birthday is between 11 and 20 will receive their benefit monthly October 16.
- Anyone who was born between the 21st and the 31st of any month can count on their payment of the benefits for him October 23.
COLA Increase for Social Security
The official statement about how much the increase in taxes will be benefits In 2025 it will also be carried out in the month of October, and the amounts will change from December 2024 onwards. On October 10, the announcement will be made about the adjustment of the cost of life (COLA). The increases of the benefits They are based on the rates of the consumer price index for urban wage earners and administrative employees (CPI-W) that correspond to the third quarter of the year (July, August, and September). The CPI-W keeps track of spending by US workers.
All programs administered by the SSA are subject to the increase in COLA. These include the following: Benefits retirement benefits, including spouses who qualify to receive benefits of the Social Security Depending on your partner’s income, benefits for survivors, income Security Supplementary, disability Social Security.
