The upcoming round of Social Security checks during the month of February is coming to recipients on Wednesday. They will continue to perceive larger benefit checks due to the 8.7% cost-of-living adjustment (COLA) for 2023, which is the biggest boost in 41 years. As you all may know by now, Social Security payments for this month will take place in the same monthly schedula as any other month. Payments always go out on the first, second, and third Wednesdays of the month.
When can you expect your Social Security Payment?
Schedules are very simple to understand. If you were born between the 1st and 10th of the month, you are getting your payment on Wednesday, February 8. People whose birthdays fall between the 11th and 20th of the month will get their payments on Wednesday, February 15. Last but not least, people whose birthday falls between the 21st and the 31st of the month are getting their payment on Wednesday, February 22. Same as every other monthly schedule.
If you don’t get your payment on the date you were supposed to, the Social Security Administration suggests you allow three additional mailing days to pass before you contact them. After that, you can definitely contact them in order to see what happened with your payment. The SSA considers that Social Security benefits have increaased by more than $140 a month on average in this new year. COLA was at 5.9% last year and it was increased because it didn’t really help senior citizens deal with inflation.
This bigger COLA is definitely better suited to assist these senior citizens who have been struggling with inhumane prices on everything. From food, gas, housing, and other important assets that people need to lead a better life. Even though the Bureau of Labor Statistics has seen a consistent drop on inflation for the sixth consecutive month, this will still help senior citizens even further.