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According to the Social Security’s payment calendar, double payments will be received in the month of March. Read and find out in this article which beneficiaries will receive them!
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Social Security Payments [Photo: MARCA]
According to Notheis, beneficiaries who receive both Social Security and Supplemental Support Income can definitely expect to receive double payments. The SSA issues the Supplemental Support Income on the first of the month, while the Social Security is issued on the third of the month. However, in the event that the first of the month falls on a weekend or a holiday, the payments will be moved to the nearest weekday. This is the case with the double payments for the month of March because the first day of April falls on a Saturday. Therefore, the payments will be moved to March 31, Friday.
READ ALSO: Social Security: When To File To Claim The Biggest Benefits
How much Social Security benefits will be received in March?
According to Heilman, the amount that Social Security beneficiaries receive is based on different factors. Some of these factors include when the beneficiary started claiming their Social Security benefits and what their Primary Insurance Amount is. In January 2023, the average Social Security payment was $1,961 per month for all types of benefits. On the contrary, the average Supplemental Support Income payment was $677 per month for all the beneficiaries. The maximum amount of benefits was increased to $914 for individuals and $1,371 for couples this year.
READ ALSO: Retirement Vs. Spousal: Which Social Security Benefit Offers More?
