Continue reading. For seniors, one of the most important pensions is called Social Security, which is a monthly check that starts at $914 and can go up to $3,520. It should be noted that Social security checks are sent by Social Security Administration (SSA) and has special targeted payments for retired workers, Supplemental Security Income (SSI) recipients, and other disabled or survivors.
How much have payments increased and who is receiving them?
With an 8.7% COLA increase, retiree payments would increase by about $146. According to the SSA, the average payout in January of this year was $1,827. On the other hand, average payments for Supplemental Security Income (SSI) recipients will increase to about $656.
- Now, the average Social Security check for retired workers will be $1,827, an increase of $146 from the average check in 2022.
- Couples with both spouses receiving Social Security benefits will receive an average check for $2,972.
- A widow with two children receives an average check of $3,520.
- A widow only receives an average check for $1,704.
- A disabled worker with a spouse and child receives an average check of $2,616.
- Workers with disabilities receive an average check for $1,483.
- In the case of Supplemental Social Security (SSI), the standard check is $914 for individuals and $1,371 for couples.
Check the mailing list
It is important to note that SSI recipients receive their payments on the first day of each month. On the other hand, those who started receiving Social Security benefits before May 1997 receive their benefits on the 3rd of each month.
Meanwhile, the rest of the Social Security checks are sent based on the recipient’s birthday.
- Pensioners with a date of birth between the 1st and 10th are sent on the second Wednesday of the month.
- Payments are sent to beneficiaries born between 11th and 20th on the third Wednesday of the month.
- Payments are made on the fourth Wednesday of every month, for those born between the 21st and 31st.