This in January. Those of us on Social Security receive our cost of living adjustment (COLA) this month. When it will come depends on when we were born.
Beneficiaries born from the 1st through the 10th of the month get paid on the 2nd Wednesday.
Beneficiaries born from the 11 to the 20th of the month get paid on the 3rd Wednesday.
Beneficiaries born on the 21st of the month or later get paid on the 4th Wednesday.
Today, January 12, is the 2nd payment cycle which is the first day those born early in the month get paid. the other pay days are January 19 and 26.
February pay days are 9, 16 and 23.
March pay days are also 9, 16 and 23.
April pay days are 13, 20 and 27.
May pay days are 11, 18 and 25.
June pay days are 8, 15 and 22. June has the earliest pay days of the year.
July pay days are 13, 20 and 27.
August pay days are 10, 17 and 24.
September pay days are 14, 21 and 28. September and December have the latest pay days of the year.
October pay days are 12, 19 and 26.
November pay days are 9, 16 and 23. In November Social Security is always paid the day before Thanksgiving to those born the last part of the month.
December pay days are 14, 21 and 28.
As you see it can be hard to keep track of your SSA pay day because it changes every month. You may want to mark your calendar.
Some people are still paid on the 3rd day of the month. They are the people who were getting Social Security when payment cycling began several years ago. A second group is people who get SSI and Social Security. If you get SSI but your payment comes on a later date you can call SSA and have your pay day changed to the 3rd of the month.
This year the SSA COLA is 5.9%. However, the standard Medicare B premium will increase 7% or $21.60 and will reduce the amount of money you receive. And if SSA considers you a high-income person you pay even more for Medicare B. So don't spend all of your COLA in one place.