Social Security, SSI and SSDI Payment Hitting Bank Accounts

Find out the information about the social security, ssi and ssdi payment hitting bank accounts as it is an important update. The increase came into force on January 1 as inflation continues to reach record highs, affecting consumers. The COLA is calculated based on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures changes in the cost of popular goods and services. ssi and ssdi Retired workers will see a boost of $92 on average, bringing their monthly benefit to $1,657 from $1,565. Those born at the end of the month, from the 20th to the 31st, can expect checks on February 23. The next checks for retirees born between the first and 10th of the month will be sent on Wednesday, March 9. And those born in the middle of the month, from the 11th to the 20th, will get their payments on March 16. ssi and ssdi Throughout the year, Social Security payments will be sent on the second, third, and fourth Wednesdays of each month. The average monthly payment for couples will rise from $2,599 to $2,753 – a jump of $154.

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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.

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