February 2021 Social Security Payment Schedule
If you are looking for the February 2021 Social Security Payment schedule, look no further. We can help you. If you are currently getting Social Security Retirement benefits, or disability benefits, including SSDI or SSI, knowing your payment schedule is critical to planning your monthly finances.
In the post below, we have explained in detail how the monthly payment calendar works and provided you with the specific dates on which your February benefit payments will be deposited into your account.
This Post will Cover:
- How Social Security Payment Schedule Works
- February 2021 Social Security Payment Schedule
- What To Do If You Don’t Recieve Your Benefits
- Social Security Payments Questions
Other posts you may like:
How Social Security Payment Schedule Works
When you receive your Social Security benefits (SS and SSDI) depends on your birthday.
- If your birthday falls between the 1st and 10th of the month, you’ll receive SSDI benefits on the 2nd Wednesday of every month.
- Also, 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.
February 2021 Social Security Payment Schedule
If you are on Social Security benefits, planning ahead is a big part of making sure your benefit payments go the distance.
As you plan for the month of February 2021, knowing when you can expect to get your Social Security checks is important.
You can plan accordingly and make sure your bills are paid on time. It also helps you avoid surprises in case your benefit payment is going to be delayed due to a weekend or holiday.
Here is when to Expect Your Social Security Payment for February:
Social Security and Social Security Disability Insurance (SS and SSDI)
For those receiving Social Security Retirement Benefit or Disability Benefits, here is your payment schedule for February:
- If your birth date falls on the 1st – 10th day of the month, benefits are paid on February 10th.
- Also, if your birth date falls on the 11th – 20th day of the month, benefits are paid on February 17th.
- If your birth date falls on the 21st – 31st day of the month, benefits are paid on February 24th.
Supplemental Security Income (SSI)
If you receive Supplemental Security Income (SSI), you will receive your payments on the 1st of each month.
The exception is when the 1st falls on a weekend or holiday.
If the first falls on a holiday, then you will receive your payment the business day before.
However, if the first falls on a weekend, you’ll receive your payment on the preceding Friday.
Since February 1, 2021, fall on a Monday, you will receive your SSI benefits on Monday, February 1st, 2021.
If you started receiving benefits (SS or SSDI) Prior to May 1997, or you are currently receiving both Social Security and SSI payments, you will receive your payments on the 3rd of each month.
If the 3rd falls on a weekend or holiday, you will receive your payment on the preceding Friday.
The exception is when the 3rd falls on a weekend or holiday.
If the 3rd falls on a holiday, then you will receive your payment the business day before.
However, if the 3rd falls on a weekend, you’ll receive your payment on the preceding Friday.
The Complete 2021 Social Security Payment Schedule
If you would like to look ahead and see when payments will be made for the coming months in 2021, see the complete 2021 Social Security Payment Dates here.
For a breakdown of the payment calendar by month, see our Month by Month 2021 Social Security Calendar, which shows you the payment dates for SS, SSI, and SSDI by month.
You can also reference the table below for a complete list of dates for the rest of the year.
|2021||SSI||SS & SSDI (Birthdate 1st – 10th)||SS & SSDI (Birthdate 11th- 20th)||SS & SSDI (Birthdate 21st – 31st)||Both SS & SSI|
Social Security Payments Questions
Here are the most frequently asked questions about Social Security Payments:
What To Do If You Don’t Recieve Your Benefits
If you do not receive your payment on your specified day or date, the Social Security Administration asks that you wait three mailing days before contacting them.
You can contact Social Security at 1-800-772-1213.
What if I get an overpayment?
If you are notified by the Social Security Administration of an overpayment, you have the right to appeal the overpayment decision or request that they waive (not collect) the incorrect payment.
The Social Security Administration may stop the collection of the overpayment if:
- It was not your fault that you received an overpayment; and
- Paying it back would cause you financial hardship or be unfair for some other reason.
What is the Social Security Wage Base for 2021?
The Social Security and Disability Insurance taxable wage base is projected to rise by 3.6% to at least $141,900 in 2021, up from $137,700 for 2020.
The wage base is the maximum amount of earnings subject to Social Security taxes.
The maximum Social Security tax per worker will be $17,074.80—or a maximum $8,537.40 withheld from a highly paid employee’s 2020 paycheck.
Note that workers and their employers each pay a 6.2% Social Security tax.
However, the self-employed pay both sides of the tax.
How much is COLA for 2021 and when will I receive it?
According to this report, it is estimated that Social Security recipients would get a modest 0.3% COLA for 2021.
However, if prices continue to rise, then the size of the COLA could be larger.
This compares to the 1.6% cost-of-living adjustment for 2020. In 2019, the COLA was 2.8%, an increase of about $40 a month for retirees.
Why is the COLA forecast for 2021 so low?
The average COLA over the decade has been a 1.52 percent increase, with the largest being the 2.8 percent rise that went into effect in January 2019.
However, not all years saw a COLA increase.
For example, there were no COLA increases starting in January 2011 or January 2016.
One reason a small COLA is expected for 2021 is that inflation has been low.
When will I know my new benefit amount for 2021?
The Social Security Administration will mail cost-of-living adjustment (COLA) notices throughout the entire month of January 2021.
However, it is possible that your friend or family member will receive their notice in the mail before you.
If you do not receive your notice in the mail in December, please wait until January 2021 before contacting the Social Security Administration about your mailed notice.
In addition, COLA notices are available online to most beneficiaries through the Message Center of their personal my Social Security account if they created their account by November 2020.
Can I split my Social Security direct deposit between two bank accounts?
Currently, the Social Security Administration only allows a direct deposit to a single account (e.g. checking account, savings account, or prepaid card account like Direct Express).
One way to split your payment is to make an arrangement with your financial institution to transfer funds into your other bank accounts.
What is the Ticket to Work Program?
The Social Security Disability Ticket to Work program supports career development for Social Security disability beneficiaries.
Essentially, the Ticket to Work program pays for services to help you find paid work.
The program is targeted at individuals receiving SSI or SSDI benefits who are between the age of 18 and 64.
Ticket to work is a free and voluntary program and there is no penalty if you decide not to participate.
If you are approved for the program, you can get access to services like vocational rehabilitation, training, referrals, job coaching, counseling, and placement services.
However, while you participate in the program, Social Security will suspend medical Continuing Disability Reviews (CDRs).
This is a significant benefit if your disability or condition may change.
That’s because, under normal circumstances, you lose all your Social Security disability benefits if your condition improves.
What is an ABLE account?
ABLE stands for Achieving a Better Life Experience.
ABLE bank accounts allow individuals who were disabled before age 26 to save money without losing eligibility for SSI disability or Medicaid.
The growth of the investments in the account is tax-free, and you can spend the money on disability-related expenses, like housing, transportation, or education.
However, there are limits on how much can be deposited into your ABLE account in a single calendar year.
Also, if the total amount in your account goes over $100,000, your SSI benefits stop until the balance falls below $100,000.
February 2021 Social Security Payment Schedule Summary
Here’s the bottom line:
Social Security Retirement Benefits and SSDI payments for the month of February will be deposited on the following dates depending on your date of birth:
- 10th of February
- 17th of February, and
- 24th of February
You will receive your benefits on Monday, February 1st, 2021.
If you have any questions about the February 2021 Social Security Payment Schedule, please ask us in the comments section below.
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