When Social Security Benefits Are Scheduled for January 2023

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Social Security recipients can look forward to bigger benefit checks in January. Back in October, the Social Security Administration announced the 2023 cost-of-living adjustment (COLA) would be 8.7% — the biggest boost in 41 years.

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Last year’s 5.9% COLA has done little to help seniors deal with the inflated cost of living. The bigger COLA for 2023 should help seniors who have struggled with soaring costs for everything from food, gas and housing.

As usual, Social Security payments in January will be made according to the same monthly schedule, with payments going out on the second, third and fourth Wednesdays of the month.

Here’s when you should expect your payment:

  • If your birth date is on the 1st-10th of the month, your payment will be distributed on Wednesday, Jan. 11.
  • If your birth date is on the 11th-20th, your payment will be distributed on Wednesday, Jan. 18.
  • If your birth date is on the 21st-31st, your payment will be distributed on Wednesday, Jan. 26.
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If you don’t receive your payment on the expected date, the SSA advises allowing three additional mailing days before contacting Social Security.

Seniors who also qualify for Supplemental Security Income (SSI) benefits will receive their January payment on Dec. 30. According to the SSA website, SSI benefits are usually paid on the first of the month unless the date falls on a weekend, in which case payments will be issued the Friday before the first.

The SSI program is run by the Social Security Administration and provides monthly payments to adults and children with a disability or blindness who have income and resources below specific financial limits. SSI payments are also made to people 65 and older without disabilities who meet the financial qualifications. Because of a quirk in the payment schedule, two SSI checks are sent in April, September and December, while no checks are sent in January, May and October.

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On average, Social Security benefits will increase by more than $140 a month in 2023, the SSA said. The average yearly benefit for 65-year-olds in 2023 is expected to rise to $30,708, or $2,559 a month.

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About the Author

Josephine Nesbit is a freelance writer specializing in real estate and personal finance. She grew up in New England but is now based out of Ohio where she attended The Ohio State University and lives with her two toddlers and fiancé. Her work has appeared in print and online publications such as Fox Business and Scotsman Guide.
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