Beneficiaries got their first of two rounds of Social Security payments reflecting the new 5.9 percent cost of living adjustment just this month, which was the first of two rounds. They are currently awaiting the arrival of their second check, which is due to arrive sometime during the month of February.
Individuals who are qualified for the adjustment will see their wages climb at the fastest rate in over four decades, and it couldn’t come at a better time for them. Inflation is already hovering about 7 percent, and it is expected to grow more as the disease spreads.
The following is the Social Security payment schedule for the month of February:
It is possible that your birthday comes between the first and tenth of the month, in which case your payment will be made on the second Wednesday of the month (February 9).
It doesn’t matter if your birthday comes between the 11th and the 20th of the month; your prize will be given on February 16, the third Wednesday of the month, which is the day after your birthday.
If your birthday falls between January 21st and December 31st, your payment will be made on the third Wednesday of the month, which is February 23rd, in order to accommodate your schedule.
If you believe that Social Security does not provide you with enough income to meet your basic needs, you may be eligible to apply for Supplemental Security Income (SSI). If you qualify, you will get an extra benefit on top of your monthly Social Security check. The first payment of Supplemental Security Income (SSI) will be made on February 1.
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If you began receiving Social Security benefits before May 1997, or if you receive both Social Security and SSI benefits, you will receive your SSI payment on February 1 and your Social Security payment on February 3.
If you began receiving Social Security benefits after May 1997, you will receive your SSI payment on February 1 and your Social Security payment on February 3. In the event that you begin receiving Social Security payments after May 1997, you will receive your first payment on February 3.
It is much easier to keep track of your Social Security payments, statements, and any other Social Security difficulties if you have your own Social Security account.
Consequently, you will have 24/7 access to your Social Security account and will be able to obtain benefit statements and verification letters very immediately, as well as handle the majority of administrative activities from the comfort of your own home, as a result of this change.
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