00:00Over 70 million Americans rely on benefits from the Social Security Administration.
00:05These payments, crucial for millions, follow a staggered schedule, primarily based on your birth
00:10date. However, if you started receiving retirement, spousal, or survivor benefits before May 1997,
00:17or if you also receive Supplemental Security Income, SSI, your payment dates are different.
00:23SSI is a federal program providing vital monthly support to adults and children with disabilities
00:28or blindness, and to adults aged 65 and older. So, when can you expect your payment this July?
00:36On Tuesday, July 1, SSI payments will be issued. Then, on Thursday, July 3, retirement benefits
00:44will go out to those who've been collecting checks since before May 1997, along with retirees who also
00:49receive SSI. For the vast majority, your birthday dictates your payment day, Wednesday, July 9,
00:55is for those born between the 1st and 10th of any month. Wednesday, July 16, is for birthdays between
01:02the 11th and 20th. And on Wednesday, July 23, payments arrive for those with birthdays between
01:08the 21st and 31st. How much can you expect? The average retired worker benefit in May 2025 hit a new
01:17high, crossing the $2,000 mark for the first time. Now, a major change is on the horizon for nearly half
01:24a million beneficiaries still receiving paper checks. Due to an executive order signed in March,
01:30modernizing payments to and from America's bank account, all federal payments must be made
01:34electronically after September 30, 2025. This includes Social Security, SSI, and other federal
01:41disbursements. Why the shift? Paper checks are 16 times more likely to be lost, stolen, or altered
01:49compared to electronic transfers. This move aims to curb fraud and enhance efficiency. However,
01:57critics are raising concerns about the potential impact on vulnerable recipients, especially seniors
02:02who might struggle with digital access, compounded by recent cuts to digital equity funding.
02:07So, how can you prepare if you're still getting paper checks?
02:10First, use MySocialSecurityOnline to enroll in direct deposit and manage your account.
02:17Keeping your personal and payment information updated on SSA. Gov is critical.
02:24Second, be vigilant against fraud. The SSA will never ask you for money to set up or expedite your
02:30benefits. If contacted, verify the source. Finally, if you face genuine hardship or lack digital access,
02:38you can report it. Contact the SSA or the Electronic Payment Solution Center to discuss alternatives
02:44or apply for an exemption. Special circumstances can allow for non-digital payments, but these are
02:51evaluated case by case. The Social Security Administration aims to complete this digital
02:56transition for all federal benefit programs by September 30, 2025. Staying informed and taking
03:03proactive steps now will ensure your benefits continue without interruption.
03:08Money Explainers
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