If you are looking for the Social Security Payment Schedule for July 2023 look no further. We can help you. Social Security pays benefits in the month following the month for which they are due. For example, the October benefit is paid in November.
For those on Social Security retirement benefits or disability (SSDI or SSI), knowing when your payments will be deposited each month is crucial.
That’s because, for a majority, the monthly Social Security benefit is the main source of income.
Knowing the payment date helps you plan ahead and ensure that your bills are paid on time.
In addition, if you know when the payment will be deposited and available, you can plan for cash withdrawals from your account.
In the post below, we have explained in detail how the Social Security Payment Schedule works and provided you with the specific dates on which your July benefit payments will be deposited into your account.
This Post will Cover:
- No More Paper Checks for Social Security Benefits
- How Social Security Payment Calendar Works
- Social Security Payment Schedule for July 2023
- Complete 2023 Social Security Payments Schedule
- What To Do If You Don’t Receive Your Benefits
- Social Security Benefits Questions and Answers
No More Paper Checks for Social Security Benefits
Since 1935, the Social Security Administration (SSA) has mailed paper checks to Social Security beneficiaries.
However, that ended in May 2011.
That’s because Congress passed a law that required all recipients of payments from federal benefits programs to sign up for electronic payments.
Since then, all new recipients of Social Security and Supplemental Security Income disability have been required to sign up for electronic payments.
In addition, existing recipients of Social Security and SSI had to comply with the new requirements by March 1, 2013.
As a result, the SSA no longer mails paper checks for Social Security benefits, including disability payments.
How the Social Security Payment Schedule Works
If you are receiving Social Security Retirement or Social Security Disability Insurance benefits (SSDI), your payment date depends on your birth date.
In addition, If you are receiving payments on the record of a retired, disabled, or deceased worker (for example, spousal or survivor benefits), that person’s birthday sets the schedule.
Here’s how the Social Security Payment schedule works for those who receive Social Security retirement benefits or SSDI:
- If your birthday is in the first 10 days of the month, then you’ll receive your benefits payments on the second Wednesday of each month.
- For those with birthdays between the 11th and the 20th, benefit payments are deposited on the third Wednesday of the month.
- Payments are made on the fourth Wednesday of the month for those with birthdays on the 21st or later.
Here is a table that better displays how the payment schedule works:
|1st – 10th
|11th – 20th
|21st – 31st
Now that you understand how the payment schedule works, it’s time to review the 2023 payment calendar as released by the SSA.
If you’ve been receiving Social Security benefits prior to May 1997 or you get both Social Security and SSI payments, here’s what you need to know:
Your payments will be made on the 3rd of each month. If the 3rd falls on a weekend or holiday, payment will be made on the preceding Friday.
Here is the complete SSI payment schedule for 2023.
First, we have first listed dates for those only receiving SSI benefits.
Next, we have provided dates for those receiving both Social Security retirement benefits and SSI.
Social Security Payment Schedule for July 2023
Here is when to expect your Social Security payment for July 2023:
Social Security and Social Security Disability Insurance (SS and SSDI)
For those receiving Social Security Retirement Benefits or Disability Benefits, here is your payment schedule for July:
- If your birth date falls on the 1st – 10th day of the month, benefits are paid on July 12th.
- Also, if your birth date falls on the 11th – 20th day of the month, benefits are paid on July 19th.
- If your birth date falls on the 21st – 31st day of the month, benefits are paid on July 26th.
Supplemental Security Income (SSI) Payment Schedule
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.
July 2023 SSI Payment Schedule
Since July 1st, 2023 falls on a Saturday, SSI payments for the month will be deposited on Friday, June 30th, 2023.
If you receive your payment via a bank account or a prepaid debit card like the Direct Express Debit card, you should see your benefits in your account on or before Friday, July 30th, 2023.
Both SS and SSI Recipients
Since July 3, 2023, falls on a Monday, you will receive your benefits on Monday, July 3, 2023.
The Complete 2023 Social Security Payment Schedule
Here is a simplified version of the 2023 Social Security Payment Calendar for Social Security retirement benefits and SSDI beneficiaries.
If your birthday falls between the 1st and 10th:
- January 11
- February 8
- March 8
- April 12
- May 10
- June 14
- July 12
- August 9
- September 13
- October 11
- November 8
- December 13
Next, if your birthday falls between the 11th and 20th:
- January 18
- February 15
- March 15
- April 19
- May 17
- June 21
- July 19
- August 16
- September 20
- October 18
- November 15
- December 20
If your birthday falls between the 21st and 31st:
- January 25
- February 22
- March 22
- April 26
- May 24
- June 28
- July 26
- August 23
- September 27
- October 25
- November 22
- December 27
Supplemental Security Income (SSI) Payment Schedule for 2023
For SSI recipients, benefits will arrive on the first of the month.
However, 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 of the month falls on a Saturday, you’ll receive your benefits the Friday before.
|Both SS & SSI
What To Do If You Don’t Receive 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.
Social Security Benefits Questions and Answers
Here is the summary of the most frequently asked Social Security Benefits Questions and Answers.
What is the projected COLA for 2024?
The projected COLA for 2024 is 2.7%.
This forecast, provided by The Senior Citizens League, indicates a significant decrease compared to previous years.
It is less than one-third of the 8.7% COLA in 2023 and lower than the previously estimated 3.1% increase for 2024.
Why may Social Security recipients see a shrink in COLA?
Social Security recipients may see a shrink in COLA due to slowing inflation.
While slowing inflation may be welcomed by many, it results in a lower cost-of-living adjustment for Social Security beneficiaries.
The decrease in the inflation rate translates into a smaller increase in benefits, affecting the purchasing power of recipients.
Is it okay if COLA is lower as long as inflation falls?
No, it is not okay if COLA is lower even if inflation falls.
A survey conducted by The Senior Citizens League revealed that older consumers are experiencing little improvement in their household spending despite the slowing inflation rate.
Essential expenses such as housing, food, transportation, utilities, and healthcare are still increasing at a quick pace for seniors, eroding their purchasing power even if inflation as a whole decreases.
How is COLA calculated?
The COLA is calculated by the Social Security Administration (SSA) based on the average annual increases in the consumer price index for urban wage earners and clerical workers (CPI-W) from July through September.
The CPI-W reflects the general inflation experienced by urban workers and serves as a basis for determining the COLA.
How many Americans qualify for the COLA increase?
Approximately 70 million Americans receive benefits from programs administered by the Social Security Administration.
Retired workers and their dependents make up 76.9% of the benefits paid in 2022.
Social Security Payment Schedule for July Summary
Here’s the bottom line:
If you receive Social Security retirement benefits or SSDI, then your benefits will be paid based on your birthdate.
SSI (Supplemental Security Income) payments are issued on the first of every month.
For July 2023:
Social Security and SSDI payments will be made using the schedule below:
- on July 12th if your birth date falls on the 1st – 10th day of the month.
- If your birth date falls on the 11th – 20th day of the month, you will get your deposit on July 19th.
- Finally, if your birth date falls on the 21st – 31st day of the month, your benefits will be paid on July 26th.
For SSI recipients:
July 1st, 2023 falls on a Saturday, SSI payments for the month will be deposited on Friday, June 30th, 2023.
Both SS and SSI Recipients
Also, since July 3, 2023, is on a Monday, you will receive your benefits on Monday, July 3, 2023.
If you still have questions, you should leave a comment below.
However, what may be an even greater help is to join our FREE Facebook members group about Making Sense of Social Security Benefits.
It’s a very active group with some really smart people who love to answer any questions you may have about Social Security Benefits.
Also, from time to time, our team of editors drops in to contribute and answer questions.
Finally, be sure to check out our other articles about Social Security and Disability Benefits, including: