The day on which you will receive your Social Security benefits depends on your date of birth. Both Social Security Retirement and Disability payments are given as a lump-sum every month. Payments are always paid one month behind; therefore, if, for example, you are entitled to benefits starting May 2020, you will not receive your first payment until June 2020.
If you were born between the 1st and 10th of the month, you will receive benefits on the second Wednesday of each month. In 2020, you will receive payments on the following schedule: January 8; February 12; March 11; April 8; May 13; June 10; July 8; August 12; September 9; October 14; November 10; and December 9.
If you were born between the 11th and 20th of the month, you will receive benefits on the third Wednesday of each month. In 2020, you will receive payments on the following schedule: January 15; February 19; March 18; April 15; May 20; June 17; July 15; August 19; September 16; October 21; November 18; and December 16.
If your birthday falls between the 21st and 31st of the month, you will receive benefits on the fourth Wednesday of each month. In 2020, you will receive payments on the following schedule: January 22; February 26; March 25; April 22; May 27; June 24; July 22; August 26; September 23; October 28; November 25; and December 23.
If you receive Supplement Security Income (SSI) payments, those are always paid on the first of each month. In the event that the first of any given month is a holiday or falls on a weekend, you will receive your payment earlier. You will receive SSI payments on the following schedule: February 28; April 1; May 1; June 1; July 31; September 1; October 1; October 30; December 1; and December 31.
If you receive both Social Security retirement and SSI benefits, your payment will be made on the third of each month. You will also receive payments on the third of each month if you started receiving benefits before May 1997. If the third falls on a weekend, your payment will come the Friday before.
Another exception occurs if you are a child or spouse receiving benefits on someone else’s record. If that is the case, your payment date will be the same as the person on whose record you are receiving benefits.
It is important to remember that the days of Social Security’s checks getting lost in the mail are over. There are now only two ways you can receive payments. You can provide Social Security with a routing number and account number to have your payments automatically provided via direct deposit, or you can get a prepaid debit card. If, however, you do not receive your payment on time, contact Social Security at 1.800.772.1213 or visit your local Social Security office.
Lastly, you must also be prepared for taxes. Depending on your income level, you may need to pay taxes on your monthly benefit payments. When you apply for benefits, you can ask Social Security to automatically withhold taxes from your monthly benefit amount so that you don’t face a large bill in April.