It’s not too early to see when to expect your monthly checks from the Social Security Administration (SSA) in 2023. The Social Security Administration has released the official 2023 Social Security payment schedule.
In this post, we will give you the payment dates by month, and explain what it all means for you, especially when to expect your benefit payment to be deposited in your account.
This is similar to the payment calendars we published for 2022.
We will also explain major changes to Social Security coming in 2023 that may affect your benefits if you are about to start collecting benefits or are currently receiving benefits.
If you get your benefits through Direct Express Debit Card, the Social Security Payment Schedule for 2023 does not change the way your payments are deposited into your account.
Here is what you need to know:
This post will cover:
- The 2023 Social Security Payment schedule
- Exceptions to When Social Security Checks Arrive
- Social Security Disability Insurance (SSDI) Payment Dates
- Supplemental Security Income (SSI) Payment Dates
- 2023 Social Security Changes You Should Know About
The 2023 Social Security Payment Schedule
Social Security checks are deposited on the second, third, or fourth Wednesday of each month, depending on your day of birth. The Social Security check schedule works as follows:
- If your birthday is from the 1st to the 10th, you will receive your payment on the second Wednesday of each month.
- If you were born between the 11th and the 20th, your benefits will arrive on the third Wednesday of the month.
- If your birthday is from the 21st to the end of the month, you’ll receive your benefits payment on the fourth Wednesday of each month.
Exceptions to When Social Security Checks Arrive
If you fall into one of the categories below, your check may arrive on an alternate schedule.
You started receiving benefits before 1997: Your Social Security check is paid on the third day of the month.
Holiday exceptions: If the day your Social Security check is supposed to be deposited is a holiday, your check will be deposited the day before.
Here is the 2023 Social Security Payment Schedule as released by the Social Security Administration:
Here is a simplified version of the 2023 Social Security Payment Schedule
|2023||SSI||SS & SSDI (Birthdate 1st – 10th)||SS & SSDI (Birthdate 11th- 20th)||SS & SSDI (Birthdate 21st – 31st)||Both SS & SSI|
Social Security Disability Insurance (SSDI) Payment Dates
Similar to SS benefit payments, with SSDI payments, the date of your benefit is determined by your birthday as follows:
- If your birthday falls between the 1st and 10th of the month, you’ll receive SSDI benefits on the 2nd Wednesday of every month.
- If your birthday falls between the 11th and 20th of the month, your benefits will come on the 3rd Wednesday of every month.
- If your birthday falls between the 21st and the last day of the month, your payments will come on the 4th Wednesday of every month.
Supplemental Security Income (SSI) Payment Dates
For SSI recipients, benefits will arrive on the first of the month. If the 1st of the month falls on a Saturday, Sunday, or a federal holiday, you will be paid on the business day before then.
For example, if the 1st on the month falls on a Saturday, you’ll receive your benefits the Friday before.
2023 Social Security Changes You Should Know About
Social Security benefits are changing forever at the beginning of 2023.
Here is the summary of the 2023 Social Security changes:
Social Security COLA Increase for 2023
The Social Security Administration announced the 2023 COLA increase in October 2022.
Here’s what you should know.
For 2023, Social Security beneficiaries will see an 8.7% increase in benefits to account for inflation.
Here’s the list of COLA for the last thirteen years.
Social Security COLA History
Here’s a look at COLA increases since 2011.
2016: No increase.
Average Social Security Benefit Amounts will go up
Here are the estimated average Social Security amounts by category.
We have provided both 2022 and 2023 information for comparison.
|Estimated Average Monthly Social Security Benefits Payable in January 2023|
|Before 8.7% COLA||
After 8.7% COLA
|All Retired Workers||$1,681||$1,827|
|Aged Couple, Both Receiving Benefits||$2,734||$2,972|
|Widowed Mother and Two Children||$3,238||$3,520|
|Aged Widow(er) Alone||$1,567||$1,704|
|Disabled Worker, Spouse, and One or More Children||$2,407||$2,616|
|All Disabled Workers||$1,364||$1,483|
Social Security Income Limits for 2023
Here’s how much Social Security will deduct from your earnings if you work while collecting Social Security before your FRA:
If you are under full retirement age for the entire year, Social Security will deduct $1 from your benefit payments for every $2 you earn above the annual limit.
For 2023, that limit is $21,240
In the year you reach full retirement age, Social Security will deduct $1 in benefits for every $3 you earn above a different limit.
In 2023, this limit is $56,520
The limit changes every year, similar to the changes in COLA.
The table below provides a summary of the earnings limit:
|Under Full Retirement Age||$21,240/yr or $1,770/mth||For every $2 over the limit, $1 is withheld from Social Security benefit|
|In the calendar year full retirement age is attained||$51,960/yr or $4,710/mth||For every $3 over the limit, $1 is withheld from Social Security benefit|
2023 Social Security Payment Schedule Summary
We hope this post on the 2023 Social Security Payment Schedule was helpful.
If you have further questions about the payment schedule or Social Security retirement benefits in general, please let us know in the comments section below.
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