The month of March will see Social Security retirement recipients getting two payments, though they typically receive a single payment every month.
The double payments are being issued to recipients in March due to the following month, April, starting on a Saturday. On months when the first day of the month begins on either a weekend or a holiday, the Social Security Administration gives recipients a second payment in the previous month that will be paid on the month's last business day, according to the SSA.Recipients will receive two payments in a month to ensure that their payment does not arrive late.
The two payments will be given to recipients on March 1 and March 31. In total, 12 SSA retirement payments are issued to recipients in a single year. These two payments that recipients receive next month will each be worth $914, totaling $1,828 for March. Eligible couples will be given $1,371 on the pay dates. At the same time, essential persons, who live with someone receiving SSI and provide necessary care for them, will have payments of $458, according to the Social Security Administration's schedule.Other months where recipients will receive double payments in 2023 include June, September, and December.
The Social Security Administration first issued SSI payments in January 1974. Payment rates have increased for cost-of-living adjustments since 1975, according to the agency.
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