Millions of Social Security Beneficiaries Payment Schedules Change

Because of one of those quirks in the calendar, millions of Social Security Beneficiaries are having their payments skipped this month.

Beneficiaries do not get checks in September for the Supplemental Security Income program, in particular. Beneficiaries receive checks on the first of the month, but because September 1 fell on a Sunday, Beneficiaries got their benefits early on August 30.

That won’t happen again until October 1.

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“Obviously, any time there’s disruption to someone’s expected benefits payment, it triggers fear among recipients, but this one is quite minor and has more to do with the calendar,” Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek.

“Since the next payments won’t go out until October 1, this means SSI recipients technically won’t get a check in September, but there is no disruption to the amount of funds they receive.”

More than 7 million people rely on Social Security’s SSI benefits each month, with some recipients pulling in as much as $943.

Everyone who earns regular Social Security payments will still get their checks on the normal schedule this month. That day depends on your birth date Everyone who earns regular Social Security payments will still get their checks on the normal schedule this month.

Correspondingly, people born between the 1st and the 10th get checks on September 11; those born between the 11th and the 20th will get checks on the 18th, and people born between the 21st and the 31st will get payments on September 25.

Kevin Thompson, a financial expert and founder and CEO of 9i Capital Group, labeled the skip in the schedule a “quirk” in the system but it should not affect beneficiaries financially.

“It is really no issue since the payment should have actually been received earlier than normally anticipated,” Thompson told Newsweek. “So, in essence, it is not truly a skipped payment, but a double payment in the month of August.”

The payments, however, shall be released on a regular basis during the rest of the year.

Other Social Security Changes

It also announced that physical signatures would no longer be required on more than 30 forms when applying for benefits. Digital signatures would be applied to these forms, and 13 would not require any type of signature altogether.

“The SSA is trying to feel its way into this digital world without compromising security,” Thompson said. “The need for digital signatures should speed up the processing times and automate processes that should have been automated years ago.”

Previously, forms that require a physical signature accounted for 90 percent of the most-used forms in field offices. There are about 14 million signed forms submitted each year.

“Across the forms Americans use most often, we’re working to eliminate as many pain points as possible – helping people sign at the click of a button, reducing the need to drive or mail something in whenever possible,” said Social Security Commissioner Martin O’Malley in a statement.

“This means faster and error-free processing and better service for our customers, who deserve a government which efficiently and effectively addresses their needs.” 

faq

Why is the Social Security payment schedule changing?

The SSA, in an effort to be effective, sometimes readjusts pay schedules with considerations of banking holidays among other factors that may change the date of payment.

Who will be affected by the changes in the payment schedule?

Following are the changes that may be affected in the due date of the payment schedule: retired workers, disabled beneficiaries under SSI and SSDI, survivors receiving Social Security benefits.