Market News

Important Update: No Bonus Payments from Social Security in September 2023

Bonus, Important, Payments, Security, September, , Update






Supplemental Security Income Recipients to Receive Second Payment in September

Supplemental Security Income recipients will get a second payment in September. However, it is important to note that this payment is an advance for October and not a bonus payment.

The Question

Will Social Security recipients receive a bonus payment in September?

The Answer

This is false.

No, Social Security recipients will not receive a bonus payment in September.

What We Found

Social Security payments follow a set schedule every month. Most recipients typically receive their payments on the second, third, or fourth Wednesday of each month, depending on their birth date, as explained by AARP.

However, Supplemental Security Income (SSI) recipients, such as those who are blind, disabled, or at least 65 years old with very limited financial resources, usually get paid on the first of the month.

If the first falls on a federal holiday or weekend when banks are closed, like it does on Sunday, October 1, SSI payments are sent out on the closest previous business day.

As a result, SSI recipients will receive their October payment on September 29, in addition to the payment they already received on September 1. It is important to note that this second check in September is not a bonus payment but an advance for the month of October.

SSI recipients will also receive an advance payment on December 29 for January, since January 1 falls on a federal holiday. The full 2023 payment schedule can be found here.


Leave a Comment