Ask Larry

How Will People React When They Find Out About This Oversight By SSA?

Okay, Larry, I have been receiving by direct deposit SS payments of $906 on the 3rd of each month for numerous years now. With my birthdate being on the 24th day of the month, my NEW payment day for Social Security income falls on the 4th Wednesday of each month, beginning on January 26, 2022. With the new 5.9% raise, I will be receiving an extra $53 per month or $959 per month total benefit. Fine. But I will be missing 23 days of NOT getting paid from January 3rd to the 26th of January, which amounts to a LOSS of $710 for those 23 days--a dramatic loss of income that neither I nor most retired people depending on monthly SSA benefits can afford to lose. In my case, earning an extra $53 per month, but losing $710 due to the payments-schedule change, it will take me about 14 months to recover that loss of $710! Therefore, so much for the SSA giving us a 5.9% increase as it, in my case, would not go into effect, literally, until about April of 2023! SOMEBODY BETTER LET THE SSA KNOW ABOUT THIS HUMUNGOUS PROBLEM, ESPECIALLY FOR THOSE WHO NOW GET PAID ON THE 3RD OF THE MONTH, BUT WILL NOT GET THAT FIRST (SUPPOSEDLY HIGHER) SSA DEPOSIT INTO THEIR ACCOUNTS UNTIL THE 26TH OF JANUARY, 2022!!! CAN YOU JUST IMAGINE HOW MANY MILLIONS OF PEOPLE, WHO RELY ON THEIR SSA MONTHLY CHECKS TO SURVIVE, ARE GOING TO FEEL AND HOW THEY ARE GOING TO REACT (LET ALONE BE ABLE TO PAY THE RENT) WHEN THEY FIND OUT ABOUT THIS AT-LEAST-UP-TO-NOW OVERSIGHT BY THE SSA???

Hi. I understand your frustration. All I can tell you is that the only people who should still be getting paid on the 3rd day of the month are a) people who applied for benefits prior to April 30 1997, or b) people who also receive Supplemental Security Income (SSI) payments, or c) people who are residing outside of the U.S. If you don't meet one of those exceptions, then based on your day of birth your Social Security retirement or disability benefits should be paid on the 4th Wednesday of the month.

Best, Jerry

Category: 
Posted: 
Nov 25 2021 - 7:39pm
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