Millions of Americans collect Social Security benefits each month, and this October is no different.
Social Security payments form the bedrock of financial means for millions of Americans. Payments are made to retired individuals aged over 65, qualifying disabled people and survivors of deceased claimants by the Social Security Administration (SSA).
Also known as the Old Age, Survivors, and Disability Insurance (OASDI) program, the tax-funded benefits provide money for those who would possibly otherwise struggle to get by. Its mission is to replace lost income resulting from factors such as old age, incapacity, or the financial support provided by a deceased spouse or parent.
Supplemental Security Income (SSI) is an additional payment given to elderly, blind, and disabled individuals with low to no income and assets. Often, these payments are intended to boost the income of retirees whose OASDI payments can fall short of providing enough money to get by.
Composite image created by Newsweek. Social Security payments are made monthly to all recipients.
Photo-illustration by Newsweek/Getty
Due to the huge number of recipients regularly being paid, not every claimant get their money on the same date each month. The date a claimant is paid is determined by various factors, including the type of benefit, date of birth, and where they live.
Newsweek has broken down all of the Social Security payment dates for October 2024:
October 1
All those who claim SSI payments will get their benefits on October 1.
October 3
Social Security recipients who have been claiming since before May 1997 will receive their retirement check on October 3. This date also applies to those who claim both SSI and old-age benefits.
October 9
Those with birthdays that fall between the first and 10th of their birth month will receive their payment on Wednesday, October 9.
October 16
The claimants who have a birthday between the 11th and 20th will receive their monthly amount on October 16.
October 23
Anyone born between the 21st and 31st of any month will have their benefits paid on October 23.
The official announcement for how much benefits will increase by in 2025 is also coming in October, and will change amounts from December 2024 onward.
The Cost of Living Adjustment (COLA) announcement is to be made on October 10. Benefit increases are based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rates for the third quarter of the year—July, August and September. The CPI-W tracks spending by working Americans.
All SSA-administered programs are subject to the COLA increase. These include the following:
- Retirement benefits, including spouses who qualify for Social Security benefits based on their partner’s earnings
- Survivor benefits
- Supplemental Security Income
- Social Security Disability Insurance
