The third round of Social Security checks reflecting the new 5.9% cost of living adjustment are going out this month. The COLA increase was the largest in nearly 40 years for those who qualify for the adjustment, and it could not come at a more welcome time. U.S. inflation now sits at a whopping 7.5%, and is expected to keep rising as the pandemic and supply chain issues it has caused rage on.
For March’s payments, the Social Security schedule is as follows:
- If your birth date is on the 1st-10th of the month, then your payment was distributed on Wednesday, March 9.
- If your birth date is on the 11th-20th, then your payment was distributed on Wednesday, March 16.
- If your birth date is on the 21st-31st, then your payment will be distributed on Wednesday, March 23.
If you feel Social Security does not provide enough income to meet your basic needs, you may be eligible to apply for Supplemental Security Income to receive an additional benefit on top of your monthly SS check. SSI was paid out on March 1.
If you began receiving Social Security before May 1997, or you receive both Social Security and SSI, you should have received your SSI payment on March 1 and your Social Security payment on March 3.
You can check on your benefit payments, statements and all other Social Security concerns by creating your own mySocialSecurity account online. This will give you 24/7 access to your Social Security account and allow you to obtain benefit statements and verification letters instantly to take care of most administrative needs from the comfort of your own home.
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