Orlando, Florida – The Social Security Administration (SSA) continues to issue payments for January, thanks to a 3.2 percent Cost-of-living adjustment (COLA). With the fourth round of checks for the month scheduled to be issued on January 17th, retired workers will now receive an average of $1,907 per month, representing an increase from the previous average of $1,848. Meanwhile, couples filing jointly will receive an average of $3,033 per month, up from $2,939 in 2023. In addition, Supplemental Security Income (SSI) recipients will see an increase in their standard payments, from $914 to $943 for individuals, and from $1,371 to $1,415 for couples.
The distribution dates for the remaining Social Security checks in January depend on the beneficiary’s date of birth. Those born between the 1st and the 10th of the month will receive their payment on the second Wednesday, while those born between the 11th and the 20th will receive it on the third Wednesday. Beneficiaries born between the 21st and 31st will receive their payment on the fourth Wednesday of the month. However, beneficiaries who retired before 1997 or receive SSI benefits will receive their payment during the first few days of the month, following a different schedule.
According to the Social Security payment schedule, beneficiaries born between the 11th and 20th of a given month will receive their average check of $1,900 dollars on the third Wednesday of that month. For January, this will be on January 17th. Payments for beneficiaries with a date of birth between the 21st and 31st will be disbursed on January 24th.
It is important to note that the amount provided by the SSA is only an estimate and the actual amount received depends on various factors, including the individual’s work history, salary earned, taxes paid to Social Security, and the age at which they applied for retirement. Waiting longer to apply for benefits can result in larger payments.