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$1,800 Social Security Payment Increase in June 2023: Do You Qualify?

The Social Security Administration (SSA) is busy disbursing June 2023 benefits for various programs, including retired workers, Supplemental Security Income (SSI), disability, and survivor payments. As we delve into the details, let’s explore the specific dates and amounts recipients can expect this month.

June 2023 Payments and Amounts

June payments have already commenced, although some beneficiaries are still awaiting their checks. To provide a breakdown of the sums being distributed and who will receive them on June 14th, 2023, let’s dive into the specifics.

Social Security Amounts for 2023

As a result of the 8.7% increase in the Cost-of-Living Adjustment (COLA) this year, the average retiree payment exceeds $1,800, according to the SSA’s January announcement. Meanwhile, the maximum benefit for individuals retiring at age 62 stands at $2,572 per month. For those retiring at full retirement, which is 67, the maximum benefit is $3,627, and for those who retire at age 70 or beyond, it reaches $4,555.

Conversely, the average monthly payments for SSI recipients hover around $600. The maximum monthly SSI benefit stands at $914 for an individual and $1,371 for a married couple, provided both spouses meet the requisite qualifications.

Who Will Receive June Social Security Payments?

The distribution schedule for Supplemental Security Income (SSI) payments typically occurs on the first day of each month. For Social Security payments, it varies based on the recipients’ birthdays:

  • Second Wednesday: Born between the 1st and the 10th of the month.
  • Third Wednesday: Born between the 11th and the 20th of the month.
  • Fourth Wednesday: Born between the 21st and 31st of the month.

June Social Security Check Mailing Dates

The SSA mailed the first wave of payments to SSI recipients on June 1st and sent checks to recipients who started receiving payments before May of 1997 on June 2nd. Here are the remaining mailing dates for June payments:

  • June 14th: Born between the 1st and the 10th of the month.
  • June 21st: Born between the 11th and the 20th of the month.
  • June 28th: Born between the 21st and 31st of the month.
  • June 30th: SSI Recipients (July Payment)

Notably, SSI recipients will receive two payments in June. The first payment arrived on June 1st, and the second check will be issued on June 30th. This adjustment is due to July 1st falling on a Saturday, prompting the payment for that month to be processed on the preceding Friday. Thus, SSI recipients will receive two payments in June but none in July.

What You’ve Learned

As the Social Security Administration disburses June benefits, it’s crucial for recipients to be aware of the specific dates and amounts they can expect. The increase in the COLA has provided retirees with a significant boost, while SSI recipients will receive multiple payments this month. By staying informed about these details, beneficiaries can better manage their finances and plan accordingly.

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