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Some Social Security recipients won’t get a check in August

Some Social Security recipients will get their August payment early because August 1 falls on a Saturday. ©Image Credit: Social Security

If you receive Social Security and your July payment schedule suddenly looks suspiciously generous, don’t spend that extra check thinking you’ve unlocked a government bonus level.

There’s a calendar glitch coming in August. Some recipients of Supplemental Security Income (SSI) will get two payments in July and zero payments in August. Here’s everything you need to know about the money arriving early.

The calendar is the culprit

SSI payments are normally scheduled for the first day of each month. But August 1 falls on a Saturday this year. And when the first day of the month lands on a weekend or federal holiday, the Social Security Administration moves the payment to the previous business day.

That means the August SSI payment will arrive on July 31 instead. So, yes, SSI recipients get a check on July 1 and another on July 31. Then August arrives and... nothing. The next SSI payment is scheduled for September 1.

If you receive Social Security retirement or other Social Security benefits, keep in mind that your payment schedule works differently. Your payment date generally depends on your birthday. If you were born between the 1st and 10th days of the month, your payment schedule is on the second Wednesday of the month.

Those born between the 11th and 20th are scheduled to get their payment on the third Wednesday of the month, while those born between the 21st and 31st get their payment on the fourth Wednesday.

There is more changing this year

The unusual August schedule arrives during a year that is already bringing several changes for Social Security recipients. Those include higher monthly benefit payments, changes to Medicare Part B premiums, and higher income limits for people who continue working while receiving benefits.

So if you're budgeting around Social Security, it's worth keeping an eye on the calendar and checking exactly which benefit you're receiving. And if you’re an SSI recipient, don't let the early deposit trick you into thinking July suddenly came with a bonus check.

Source: NBC

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