When is your first boosted Social Security check due? Depends on your birthday
(NEXSTAR) – Millions of older adults in America will see a surge in monthly Social Security benefits beginning in January.
The larger checks are part of a cost of living adjustment, or COLA, designed to offset inflation. Thanks to rising inflation rates, the COLA increase of 8.7% in 2023 is the largest in decades.
However, not everyone will see the new higher amount in their bank account at the same time.
The Social Security Administration makes payments based on recipients’ birthdays.
If you were born between the 1st and 10th of the month, you will receive your check on the second Wednesday of every month. If your birthday falls between the 11th and the 20th, you will receive it on the third Wednesday. On any other date, you will receive your check on the fourth Wednesday of the month.
For example, in January, COLA recipients with early birth dates will receive their check on the second Wednesday of the month, January 13th. Do you have a birth date between 11 and 20? You will see the increase in Social Security benefits on January 18th. Recipients with dates of birth between the 21st and the end of the month will see their check on January 25th.
The COLA increase will go to more than 65 million Social Security beneficiaries aged 62 and older. The additional benefit is permanent, and since it is a percentage increase, the next COLA increase will top up the increase.
Everyone from the wealthiest Americans to the most vulnerable will receive the same performance boost.
https://www.wane.com/news/national-world/when-will-your-first-increased-social-security-check-arrive-depends-on-your-birthday/ When is your first boosted Social Security check due? Depends on your birthday